UTILISATION OF FUNDS IN THE PORT
SECTOR
The Annual Plan outlay
for the Port Sector during 2002-03 was Rs.1162.00 crores. Against
this actual expenditure was Rs.528.04 crores (provisional) which
amounts to 45.44% utilization. The shortfall in expenditure was
mainly attributed to review and pruning of the outlays taking
into account the decision to hand over some projects to the private
sector; reduction in outlays for ongoing as also new schemes based
on more realistic estimates; delay in finalization of tenders
and award of contracts; reduction in contracted cost as against
estimated coast resulting in reduction in expenditure and delay
in sanction of projects due to procedural constraints. This was
stated by Shri Dilipkumar Mansukhlal Gandhi, Minister of State
in the Ministry of Shipping in a written reply to Smt. N.P. Durga
in Rajya Sabha today.
The Minister further
stated that the Ministry of Shipping had impressed upon Chairmen
of Major Port Trusts and Heads of other organizations in the Port
Sector on the need for critically reviewing the plan schemes and
monitoring the pace of plan expenditure in order to ensure financial
discipline and better expenditure management. Implementation of
the schemes included in Annual Plan 2003-04 are being regularly
reviewed and monitored closely with a view to ensure optimum utilization
of the funds.
