The new metro rail policy that was unveiled by the central government recently, will boost private investment in metro projects, facilitate rail operations and promote competitiveness, union urban development minister, Narendra Singh Tomar said, on August 21, 2017. It will also bring uniformity in the metro projects, Tomar told reporters, on the sidelines of a function in Indore.
“Under the new policy, the states have been given more powers. We want to boost social and economic development through metros, in cities,” the urban development minister added. He said that an authority would be constituted, to decide the fares for the metro under the new policy. The new policy has opened up new avenues for investment in metro projects, he added.
Tomar said that they were looking for institutions to provide loans of Rs 14,485.55 crores, for the ambitious metro projects in Indore and Bhopal, after the Japan International Corporation Agency (JICA) refused to fund these projects. “Madhya Pradesh chief minister Shivraj Singh Chouhan is very excited over the metro projects in both the cities. As soon as the MP government sends a proposal under the new policy, we will evaluate and approve it,” the minister added.