Bangalore: Union Minister S Jaipal Reddy
today expressed disappointment over Finance Minister Pranab
Mukherjee putting brakes on funding new city projects but said
he understood the fiscal compulsions.
"I (the Urban Development Ministry) need more money.
Everybody agrees. All the ministerial colleagues agree... they
need money for their respective towns", Reddy said at the
Business Standard Infrastructure meet 2010 here.
"Of course, the Finance Minister is not able to spare
more money. I would say our Finance Minister is in bad fiscal
mode. He (Mukherjee) says no more projects, no more missions.
Not at the moment. Let me (Mukherjee) stabilise my (the
country`s fiscal) position", he said.
Reddy later told reporters in response to questions that
he wants the allocation for urban infrastructure projects to
"I want new projects in all big cities to be taken up. I
would want more money made available for small and medium
towns. So, naturally, if I were the Finance Minister, I would
not agree (to increase the funds now given the fiscal
position). He is trying to be fiscally prudent", he said.