New Delhi, Sept 6: The government will bring an ordinance to give statutory status to the dedicated central road fund (CRF), carved out of Re 1 cess on petrol and diesel, after Prime Minister Atal Bihari Vajpayee's return from the US visit on September 19."We plan to bring an ordinance to give statutory status to CRF," surface transport minister Rajnath Singh said on the sidelines of a seminar on "transportation of dangerous and hazardous goods" here on Wednesday.
CRF would be carved outside the consolidated fund of India, which at present holds the revenues collected from cess on petrol and diesel, he said, adding such funds would be utilised for development and maintenance of roads. Re 1 cess on petrol, levied in June 1998, and diesel, levied in March 1999, would fetch Rs 6,000 crore annually.
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