The Central government has allocated Rs 19,518 crore to all Metro projects in India during the Union budget 2023-24. The outlay for 2023 includes equity investment of Rs 4,471 crore, subordinate debt of Rs 1,324 crore and pass through assistance Rs 13,723 crore. In recent years, the Union Finance Ministry has been allocating budget for all Metro projects in India, instead of the Delhi Metro’s alone, a senior DMRC official said.
The budget allocation for the year 2022-23 for all Metro projects was Rs 19,130 crore. The revised estimates for 2022-23 were Rs 15,628 crore, as per the budget documents.
Additionally, the central government has granted Rs 3,596 crore to the National Capital Region Transport Corporation (NCRTC) for the first Regional Rapid Transit System (RRTS) project in India, a fall of about 23 per cent from the budget outlay last year. The government had allocated Rs 4,710 crore to the NCRTC in the Budget 2022-23. The development of the Delhi-Ghaziabad-Meerut RRTS corridor is underway at a rapid pace across various locations in NCR. Stations along the corridor are taking shape, especially the stations of the priority section, the NCRTC said in a statement.
Harini is a content management professional with over 12 years of experience. She has contributed articles for various domains, including real estate, finance, health and travel insurance and e-governance. She has in-depth experience in writing well-researched articles on property trends, infrastructure, taxation, real estate projects and related topics. A Bachelor of Science with Honours in Physics, Harini prefers reading motivational books and keeping abreast of the latest developments in the real estate sector.
Related Posts
Budget 2023-24: Infra gets major push with 33% capex hike.
Budget 2023-24: No tax on income of up to Rs 7 lakh under new tax regime.
Budget 2023 caps capital gains on investment in residential house at Rs 10 cr.
Union Budget 2023-24: Industry voices.
Union Budget 2022-23: Government banks on infrastructure development to boost economic growth.
Access to quality housing in India has improved: Economic Survey 2020-21.
