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Crowdfunding plan drowns in apathy

NYOOOZ 2018-11-08 05:30:00

Crowdfunding plan drowns in apathy

  • | Thursday | 8th November, 2018


Thiruvananthapuram: The much hyped crowdfunding plan of the state government to rebuild the flood-ravaged state has failed to elicit any response yet from the public. This includes loans from World Bank and Asian Development Bank (Rs 7,200 crore), rural infrastructure development fund (Rs 400 crore), Nabard infrastructure development assistance (Rs 2,500 crore) and Hudco (Rs 1,300 crore), cess from GST (Rs 1,000 crore), development funds of local self-government institutions (Rs 1,500 crore) and state’s plan savings (Rs 2,000 crore), that will add up to Rs 15,900 crore. But as the government goes deeper and finer into the projects, we would need more expert consultancy, for which the government will have to pay. The remaining sectors also are facing the same fate. More than 90% of the projects listed in the website for which funds are being sought from the public have drawn a blank, or could raise only meagre sums like a few hundreds.

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