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States used over 92% of funds released under PMGSY

New Delhi, Mar 21 (UNI) The Centre has released Rs 21433.51 crore upto March 7 under the Pradhan Mantri Gram Sadak Yojna, out of which Rs 19782.38 crore (92.30%) has already been spent, the Rajya Sabha was informed today.

Minister of State for Rural Development Chandra Sekhar Sahu said in a written reply that only seven States have spent less than 80% of the funds released to them.

He said steps have been taken to improve the pace of implementation of the PMGSY through training of field staff including contractors' staff, providing interest free advance for procurement of required plants and machinery, continuous and regular three tier quality monitoring system such as On-line Management, Monitoring and Accounting System (OMMAS), visit by National Quality Monitors and visit by Area Officers.

The progress is also monitored through the monthly and quarterly progress reports, and regional and performance review meetings some of which are chaired by the Union Minister of Rural Development Raghuvansh Prasad Singh, he added.

UNI

Sterling Biotech Q1 net up 23.18 pc

Mumbai Apr 29 : Sterling Biotech Ltd on Friday posted an increase of 23.18 per cent in net profit at Rs 30.23 crore for the first quarter ended March 31, as compared to Rs 24.54 crore for the same quarter last fiscal. The total income of the company grew at 21.72 per cent to Rs 134.69 crore for the first quarter from Rs 110.65 crore in the corresponding period last year, Sterling Biotech informed the Bombay Stock Exchange. The shares.....
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