Metro Budget Increased By 258 Percent, 9 cities To Get Extra 313 Km Metro Lines

न्यूज़ वर्ल्ड इंडिया | 0
| August 21 , 2017 , 10:18 IST

The Metro Rail is the lifeline of the urban population as the convenient and comfortable mode of transport is the go-to choice for millions of people across the 8 cities where the Metro Rail is currently functional.

In a major boost to transport in big cities, nine cities including Delhi, Noida, Lucknow, Hyderabad, Nagpur, Kochi, Bengaluru, and Chennai are set to get an additional 313 km of Metro Rail connectivity by March 2019. Currently, the mass transit system is only operational along 370 km in eight cities.

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An urban affairs ministry official said, "To speed up Metro expansion in view of growing traffic and pollution, the central government has increased budgetary provision for Metro projects to Rs 42,696 crore during 2015-18, marking an increase of 258% over that of Rs 16,565 crore during the 2012-15 period."

The official added that the focus has been on ensuring close coordination with the respective states and agencies for quick implementation of the projects.

Most of the projects currently nearing completion were sanctioned during the time of the UPA government, while 3 projects in Nagpur, Ahmedabad, and Lucknow were approved during the NDA government. A total of 537 kms of metro sections are currently under construction.

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The Metro Rail projects that are implemented with a 50:50 equity joint venture model with the concerned states, the most commonly followed model, the Centre provides assistance of up to 20 percent of project costs except for land costs in the form of equity coming to about 14 percent of such costs and subordinate debt for around 6 percent. The concerned states make matching contributions and the remain funds are met from loans.