Metro Projects get 19K Crores in Budget 2022

The government on 1st February 2022, allocated ₹19,130 crore in the Union Budget 2022-23 for various metro projects across the country. The budgetary allocation in the last fiscal for metro projects was Rs 18,978 cr.

The DMRC network’s current span is nearly 392 km with 286 stations (including the Noida–Greater Noida Metro Corridor and Rapid Metro, Gurgaon). Besides, metro services are operational in many other cities, including Lucknow, Mumbai, Banglore, Kochi, Hyderabad and recently operationalised in Kanpur.

Currently 723 km of metro network is operational in 18 cities, and additional over 1,000 km of network under construction in various cities. Separately, six new proposals are also being evaluated.

For all Metro Projects in the country, the Minister of Finance of India Nirmala Sitharaman has allocated Equity Investment of Rs 3,702 crore, Subordinate Debt of Rs 1,272 crore, Pass Through Assistance of Rs 14,156 crore and accordingly, in this budget, allocation made for all metro projects in India is ₹19,130 crore.

In her Budget Speech of 2022-23, the Finance Minister said that innovative ways will be encouraged for financing as well as faster implementation for building metro systems of appropriate type at scale. Also, the FM mentioned that multimodal connectivity between mass urban transport and railway stations in the country will be facilitated on priority. Also, the design of metro systems in India, including civil structures, will be re-oriented as well as standardized for Indian conditions and requirements, Sitharaman stated.

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