Section 6

Establishment of Central Road and Infrastructure Fund.

The Central Road and Infrastructure Fund Act, 2000

Act 54 of 2000
Ministry of Finance
Department of Investment and Public Asset Management

About this Act

An Act to give statutory status to the existing Central Road Fund governed by the Resolution of Parliament passed in 1988, for development and maintenance of national highways and improvement of safety at railway crossings, and for these purposes to levy and collect by way of cess, a duty of excise and duty of customs on motor spirit commonly known as petrol, high speed diesel oil and for other matters connected therewith.

All sections

    6. Establishment of Central ¹[Road and Infrastructure Fund].--(1) With effect from such date as the Central Government may, by notification in the Official Gazette, appoint in this behalf, there shall be established for the purposes of this Act, a Fund to be called as the Central ¹[Road and Infrastructure Fund].
     (2) The Fund shall be under the control of the Central Government and there shall be credited thereto--
         (a) any sums of money paid under section 4 or section 5;
         (b) unspent part of the cess, being already levied for the purposes of the development and maintenance of national highways;
         (c) the sums, if any, realised by the Central Government in carrying out its functions or in the administration of this Act;
         (d) any fund provided by the Central Government for the development and maintenance of State roads.
     (3) The balance to the credit of the Fund shall not lapse at the end of the financial year.

Notes

¹. Subs. by s. 206, ibid, for "Road Fund" (w.e.f. 1-4-2018).