Nearly 20 percent reduction in budget for metro projects

The Centre has kept an outlay of Rs 14,264.60 crore for metro projects across the country in the Union Budget for 2018-19, a reduction of nearly 20 per cent from the allocation in the last fiscal

The Centre has kept an outlay of Rs 14,264.60 crore for metro projects across the country in the Union Budget for 2018-19, a reduction of nearly 20 per cent from the allocation in the last fiscal. Presenting the budget today, Finance Minister Arun Jaitley said infrastructure is the "growth driver" of the economy and urbanisation is the government's "opportunity and priority".

However, the budget document did not provide a break-up for the individual projects like those being executed by the Delhi Metro Rail Corporation (DMRC). The budget also proposed a grant of Rs 50 crore to the Delhi Metro for its expansion into NCR areas. The allocation for metro projects for 2017-18 was Rs 17,810 crore and for expansion into NCR areas, the DMRC was granted Rs 150 crore.

This year, the pass through assistance such that loan amount provided by external agencies, has been pegged at Rs 10,373 crore while the equity investment figure stands at Rs 2,341 crore. According to the DMRC, the sanctioned cost for the Phase III project, which includes extension to Haryana and Uttar Pradesh, stands at Rs 44,816.91 crore.

Catch up on all the latest Mumbai, National and International news here

Download the new mid-day Android and iOS apps to get updates on all the latest and trending stories on the go

The content/reporting displayed on our website www.mid-day.com is provided "AS-IS," "AS AVAILABLE, by us from third party, agencies, sources, without any verification from our side. It may contain error, bugs and other limitations. The reader's can rely on the content at their own will. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability, data, text, images, video, messages, or any other material whatsoever or for any claims/loss/action that the reader may suffer as a result of relying on the content on our site. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!