Chandigarh MC will pay back rRs.r412-crore loan through hiked water tariff: MC chief
Chandigarh, March 16 -- In the form of hiked water tariffs, from December 2029, the Chandigarh municipal corporation will have to return Rs.40 crore annually to the French government to pay off the Rs.412-crore loan taken for the ambitious 24x7 water supply project.
These details were shared by municipal commissioner Anindita Mitra during a special House meeting on Friday.
"The loan is required to be repaid on a quarterly basis over a period of 15 years after completion of the project, which is expected by December 2029. The instalment will be around €1 million quarterly, which means Rs.10 crore," said Mitra.
Once the project is completed, the hiked water tariffs will be notified by the Chandigarh administration and will be almos...
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