By Accommodation Times Bureau
The Lok Sabha passed the Central Road Fund (Amendment) Bill, 2017 today. The Bill seeks to amend the Central Road Fund Act, 2000, through which the cess levied and collected on high-speed petrol and diesel is distributed for development of rural roads, national highways, railways, state roads and border area roads. The present bill seeks to allocate two and a half percent of the CRF generated to accelerate the development and maintenance of national waterways by reduction of an equal percentage from the share of national highways. This would tentatively generate about Rs. 2,300 crore revenue for national waterways. The bill was introduced in the Lok Sabha on 24 July 2017.
