Budget bonanza for Namma Metro

This year, although common man feels the Budget is a burden, Bangalore Metro rail has managed to get Rs 900 crore funds.

Published: 17th March 2012 02:45 AM  |   Last Updated: 16th May 2012 06:36 PM   |  A+A-

1-BUD

BANGALORE: The Union Ministry of Urban Development got an increase of Rs 874 crore in its annual budget with a majority of the amount envisaged to be spent on  construction and extension of Metro network in cities across the country.

 Finance Minister Pranab Mukherjee announced that while Delhi Metro will be getting Rs 1,112.57 crore as equity, because of its huge expansion plan, Bangalore Metro will get Rs 900 crore and Chennai, Rs 990 crore as equity.

The total plan outlay for the ministry, which partly owns all Metro networks in the country along with the respective state governments, is Rs 7,729 crore as against the last year’s allocation of Rs 6,855 crore.

A total of Rs 3,164.57 crore will be infused into the Metro Rail Corporations of Delhi, Bangalore, Kolkata, Chennai, Mumbai, Jaipur and Kochi as Union Government’s equity.

Further, Rs 603 crore is earmarked for water supply and sanitation in Metro networks across the country.

As part of this allocation, the government also allocated Rs 570.88 crore as pass through assistance for Bangalore Metro, Rs 2,030 crore has been earmarked for Delhi Metro and Kolkata would receive Rs100 crore.

Chairman and Managing Director of the Bangalore Metro Sivasailam said that the Budget was favourable.

“Metro policies are already present. The current budget has been quite favourable overall. The Ministry of Urban Development too has made a proposal, and finance aspect has been considered,” Sivasailam said.

Urban experts claimed this was advantageous for not just Bangalore Metro but for other Metro constructions as well.

However, they specified that unless construction was completed in the stipulated time, allocating more funds would only harm taxpayers’ money. “Metro work is a white elephant’s work. It is the tax payers’ money and not just the government money that is being used in the construction that often gets delayed. Costs are going up and each time, more funding is required. Around Rs 1 lakh crore has been earmarked for transportation already,” said M N Sreehari, traffic advisor.

Stay up to date on all the latest Bengaluru news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp