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Consider the following statements regarding the Central Road and Infrastructure Fund:
- It is used for the railway infrastructure as well as social infrastructure works.
- It is managed by the Ministry of Finance.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
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Consider the following statements regarding the Central Road and Infra...
Introduction:
The Central Road and Infrastructure Fund (CRIF) is a fund created by the Indian government to finance the development and maintenance of road and infrastructure projects. It was established in 2000 under the Finance Act, 2000.
Statement 1: It is used for railway infrastructure as well as social infrastructure works.
The first statement is correct. The Central Road and Infrastructure Fund is utilized for the development and maintenance of not only road infrastructure but also railway infrastructure and social infrastructure works. The fund aims to support the growth and development of various sectors by providing the necessary financial resources.
Statement 2: It is managed by the Ministry of Finance.
The second statement is also correct. The Central Road and Infrastructure Fund is managed by the Ministry of Finance of the Government of India. The ministry is responsible for administering the fund and ensuring its proper utilization for the intended purposes.
Conclusion:
Both the statements are correct. The Central Road and Infrastructure Fund is used for railway infrastructure as well as social infrastructure works. It is managed by the Ministry of Finance. The fund plays a crucial role in financing and supporting various infrastructure projects in the country, contributing to the overall development and growth of the nation.
The Central Road and Infrastructure Fund (CRIF) is a fund created by the Indian government to finance the development and maintenance of road and infrastructure projects. It was established in 2000 under the Finance Act, 2000.
Statement 1: It is used for railway infrastructure as well as social infrastructure works.
The first statement is correct. The Central Road and Infrastructure Fund is utilized for the development and maintenance of not only road infrastructure but also railway infrastructure and social infrastructure works. The fund aims to support the growth and development of various sectors by providing the necessary financial resources.
Statement 2: It is managed by the Ministry of Finance.
The second statement is also correct. The Central Road and Infrastructure Fund is managed by the Ministry of Finance of the Government of India. The ministry is responsible for administering the fund and ensuring its proper utilization for the intended purposes.
Conclusion:
Both the statements are correct. The Central Road and Infrastructure Fund is used for railway infrastructure as well as social infrastructure works. It is managed by the Ministry of Finance. The fund plays a crucial role in financing and supporting various infrastructure projects in the country, contributing to the overall development and growth of the nation.
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Consider the following statements regarding the Central Road and Infra...
Recently, the Union Minister for Road Transport and Highways said that the Setu Bandhan Scheme approval has been granted for 7 bridge projects in Arunachal Pradesh under the Central Road and Infrastructure Fund (CRIF).
- It is an initiative of the Ministry for Road Transport and Highways.
- Objective: It has introduced to improve inter-state connectivity, especially on the rural areas at the borders where state roads do not get the required attention.
- It is aimed at replacement of railway line Level Crossings (LCs) with Road Over Bridges (ROBs)/Rail Under Bridges (RUBs) in states.
Key facts about Central Road and Infrastructure Fund
- It was established in 2000 under the Central Road Fund Act, 2000.
- It was previously known as Central Road Fund.
- Its subject matter belongs to the Ministry of Finance.
- The fund consists of a cess imposed along with excise duty on the petrol and diesel.
- The Central Road Fund Act, 2000 was amended in 2018 and its objectives are as follows
- To use proceeds of the road cess under CRIF to finance other infrastructure projects such as waterways, some portion of the railway infrastructure and even social infrastructure, including education institutions and medical colleges.
Hence both statements are correct.
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Consider the following statements regarding the Central Road and Infrastructure Fund: It is used for the railway infrastructure as well as social infrastructure works. It is managed by the Ministry of Finance.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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