No Funds for 4 New AIIMS: Health Ministry looks to HRD Ministry to borrow funds
New Delhi: In order to complete the construction of four new AIIMS across the country, the Ministry of Health has decided to borrow funds from Human Resource Development Ministry (HRD).The estimated cost of the four new institutions is about Rs 6,000 crore. A recent media report suggests that financial support would be asked from HRD's financing arm Higher Education Funding Agency (HEFA).In...
Login or Register to read the full article
New Delhi: In order to complete the construction of four new AIIMS across the country, the Ministry of Health has decided to borrow funds from Human Resource Development Ministry (HRD).
The estimated cost of the four new institutions is about Rs 6,000 crore. A recent media report suggests that financial support would be asked from HRD's financing arm Higher Education Funding Agency (HEFA).
In the year 2014, the NDA government announced the establishment of the four branches of AIIMS in various parts of the country. Following are the branches of the institution with the estimated costs
"Given that HEFA has been set up to give a boost to infrastructure developments in higher education institutions, the loan amount would be utilised for the development of AIIMS – a key institution of medical education," an official justified the proposal, while speaking to Millennium Post.
The official further added that the proposal in this regard has been finalised and would be discussed in the next meeting of the HEFA, which is scheduled in this month.
“The loan amount would not be the liability of any of the four AIIMS as it would be paid back to HEFA by Finance Ministry in either by increasing the allocations for AIIMS or directly to the funding agency.”
Notably, the Union Cabinet had approved HEFA in September 2016 as a special purpose vehicle with a public sector bank (Canara Bank)
The construction has already started, a source told the Millennium Post, “Works like the construction of boundary walls, the design of institutions, budget estimation, etc have been completed in all the four AIIMS and tenders for further construction work have been floated.”
However, as per the experts, the low budgetary allocation to the PMSSY is hitting the construction work at AIIMS as this year's allocation has been reduced from Rs 3,975 crore to Rs 3,825 crore.
The estimated cost of the four new institutions is about Rs 6,000 crore. A recent media report suggests that financial support would be asked from HRD's financing arm Higher Education Funding Agency (HEFA).
In the year 2014, the NDA government announced the establishment of the four branches of AIIMS in various parts of the country. Following are the branches of the institution with the estimated costs
- AIIMS-Gorakhpur in Uttar Pradesh - Rs 1,011 crore
- AIIMS-Nagpur, Maharashtra- Rs 1,577 crore
- AIIMS- Kalyani, West Bengal- Rs 1,754 crore
- AIIMS-Mangalagiri in Andhra Pradesh - Rs 1,618 crore.
"Given that HEFA has been set up to give a boost to infrastructure developments in higher education institutions, the loan amount would be utilised for the development of AIIMS – a key institution of medical education," an official justified the proposal, while speaking to Millennium Post.
The official further added that the proposal in this regard has been finalised and would be discussed in the next meeting of the HEFA, which is scheduled in this month.
“The loan amount would not be the liability of any of the four AIIMS as it would be paid back to HEFA by Finance Ministry in either by increasing the allocations for AIIMS or directly to the funding agency.”
Notably, the Union Cabinet had approved HEFA in September 2016 as a special purpose vehicle with a public sector bank (Canara Bank)
The construction has already started, a source told the Millennium Post, “Works like the construction of boundary walls, the design of institutions, budget estimation, etc have been completed in all the four AIIMS and tenders for further construction work have been floated.”
However, as per the experts, the low budgetary allocation to the PMSSY is hitting the construction work at AIIMS as this year's allocation has been reduced from Rs 3,975 crore to Rs 3,825 crore.
Our comments section is governed by our Comments Policy . By posting comments at Medical Dialogues you automatically agree with our Comments Policy , Terms And Conditions and Privacy Policy .
Disclaimer: This site is primarily intended for healthcare professionals. Any content/information on this website does not replace the advice of medical and/or health professionals and should not be construed as medical/diagnostic advice/endorsement/treatment or prescription. Use of this site is subject to our terms of use, privacy policy, advertisement policy. © 2024 Minerva Medical Treatment Pvt Ltd