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Karnataka: Rs 349 crore sanctioned for Suburban Rail project

The state government sanctioned Rs 349 crore in the state budget towards the Special Purpose Vehicle (SPV) for the city’s suburban rail network.

Published: 17th February 2018 03:43 AM  |   Last Updated: 17th February 2018 03:43 AM   |  A+A-

By Express News Service

BENGALURU: THE state government sanctioned Rs 349 crore in the state budget towards the Special Purpose Vehicle (SPV) for the city’s suburban rail network. The Rs 17,000-crore plus project, in which 161 kms of railway tracks will be constructed, was recently cleared in the Union Budget and the Railways had sanctioned Rs 12,061 crore for its implementation while announcing an equal share to be borne by both the State and the Centre. The SPV is responsible for procuring loans to arrange 60 per cent of the project cost, which in turn will be borne equally by the State and the Railways.

The move, closely following the Centre’s allocation, has been seen as an expression of interest by the state government towards the project, and was welcomed by citizens. Transport expert Sanjeev Dhyamannavar said the sanction was a very good, positive step from the state and both the state and the Centre should now take the project forward.

However, traffic expert MN Sreehari said some key areas did not get the required allocation. “More buses should have been procured. The government should have announced a multi-level car park in every ward to free the roads,” he said.



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