BENGALURU: Private funding in Metro projects, feeder systems as a mandatory part in project planning stage and tax-free bonds to mobilise resources. These are just some of the steps drafted in the maiden Metro policy, which is set to come out next month.
To relieve the huge pressure on the public exchequer caused by the capital intensive nature of Metro Rail projects, the draft policy suggests making it mandatory for state governments to explore the public private partnership (PPP) funding model.
Another major move proposed is making it mandatory for all Metro rails to have details of the feeder systems in place to ensure last mile connectivity for the public incorporated in the Detailed Project Report submitted to the government. “Last mile connectivity, NMT (non-motorised transport) infrastructure, induction of facilities for para transit modes will be an essential requirement,” the draft states.
Finance Minister Arun Jaitley had announced in the Union budget that the Centre was coming out with a new Metro Policy shortly.
“The draft was released to state governments recently during a consultation meet with them to incorporate their suggestions. The draft is in an advanced stage now,” said AA Rao, additional director general in the Press Information Bureau. It has already been sent to other ministries. “We are no working towards moving a Cabinet note on it,” Rao said.
Asked about the timeframe for the new Metro Policy to be finalised, sources said it could take just a month or a little longer.
A copy of the draft, available with Express, states, “In recent times, more and more cities have chosen the PPP model for development and implementation of Metro Rail projects, to leverage both public and private resources and expertise.”