Moscow, Oct 29 (IANS): Hosts Russia will carry out all preparations for the 2018 FIFA World Cup on time and at the top level, Russian President Vladimir Putin has said.

"There is no doubt that Russia will meet the established deadlines and will certainly do all the works at a top-class level," Putin said Tuesday at the meeting of the World Cup steering committee, reports Xinhua.

Preparation for the World Cup is just beginning in many of Russia's regions. Although work is going to be hard, Putin expressed hope that it is going to lead to positive results.

Putin suggested to launch a special information portal to control all preparation stages of the mega event.

Over 664 billion rubles ($15.6 billion), half of the federal budget funds, will be allocated for implementation of the preparation and main programs of hosting the World Cup, Putin was quoted as saying.

"We would like to make all arrangements to prepare a grand holiday for football lovers across the globe," he said.

Putin said that Russia has all necessary resources for football's showpiece event despite economic difficulties, but its assets have to be used wisely during the organising process.

"We need to be hospitable and assiduous at the same time. Money has to be used sparingly and thriftily."

The president added that the security measures should be "efficient but not excessive".

"We have to ensure close cooperation and coordination of all agencies and services involved. There should be no problems or discomfort created for athletes or football fans," Putin said.

Foreign Minister Sergei Lavrov also said at the meeting that Russia is taking all possible measures to ensure a comfortable visa-free presence, as well as other measures, to provide convenience for visitors during the sporting extravaganza.