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Budget Expectations: 50 per cent of last budget allocation for Pune Metro spent; fresh capital inflows expected

This year, the Pune Metro project is expecting a budgetary provision of Rs 1,500 crore in the central government’s Union budget to be presented on February 1.

pune Updated: Jan 31, 2018 21:24 IST
Abhay Khairnar
Abhay Khairnar
Hindustan Times, Pune
Budget,Expectations,Pune
Maha-Metro is also expecting ₹1,300 crore as loan in the next fiscal.(HT PHOTO)

The Maharashtra Metro Rail Corporation Limited (Maha-Metro), which is in charge of the Metro rail project in Pune, has been able to spend around 50 per cent of funds allocated by the central and state government’s annual budget of 2017-18. This year, the Pune Metro project is expecting a budgetary provision of Rs 1,500 crore in the central government’s Union budget to be presented on February 1.

Last year was the first year time Pune Metro appeared in the ongoing fiscal after work began in May 2017. The central and state government approved Rs 700 crore for the Pune Metro project in 2017-18. Of the total amount, Rs582 crore has been released for the Pune Metro project till date.

Maha-Metro’s managing director, Brijesh Dixit, said that the Maharashtra Metro Rail Corporation Limited had been able to spend 50 per cent of the funding it received. He added that the remaining amount would be spent soon as many works are yet to materialise and some of the tenders have already been floated.

As the Union Budget is going to be presented on Thursday, Maha-Metro is expecting a fair budget allocation for Pune Metro.

Maha-Metro officials said that they are expecting Rs 750 crore from the Centre and Rs 750 crore from the state government. Along with that, Maha-Metro is also expecting Rs 1,300 crore as loan in the next fiscal. Cumulating the various budgetary provisions, around Rs 2,800-crore funding is expected in the next year for the Metro project, a Metro official said.

Along with the Metro project, Pune is also expecting funds for the Smart City project and the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) scheme in the next fiscal. Civic officials said that they are also expecting grants under the Prime Minister Awas Yojana (PMAY) in this year’s budget.

FUNDS TO COVER PROJECTS

Pune Metro project allocated Rs 700 crore in 2017-18

Pune Metro project has received Rs 582 crore till date.

Maha-Metro was able to spend 50 per cent of amount received

Maha-Metro is expecting Rs 1,500 crore from both state and Union budget in 2018-19

Maha-Metro is also expecting Rs 1,300 crore by way of loan in 2018-19

First Published: Jan 31, 2018 21:11 IST