The central government on Monday agreed to immediately release Rs 5 crore for Maharashtra government's project of turning the country's first aircraft carrier INS Vikrant into a naval museum.

The state government has already sanctioned Rs 105 crore for the project, which will see the carrier converted into a museum with a souvenir sales counter, a conference hall, a viewers' gallery and restaurant.

INS Vikrant had played a pivotal role in India's victory over Pakistan in 1971 war.

Defence Minister George Fernandes conveyed the Centre's decision to Maharashtra Chief Minister Sushil Kumar Shinde.

Earlier, Shinde telephoned Fernandes and drew his attention to the view expressed by naval authorities that unless urgent repairs were carried out, there was a possibility of more damage to the carrier during the monsoon season.

Shinde had told Fernandes that the state government alone cannot bear the responsibility and the Centre should also contribute.