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Centre hikes budgetary allocation for Pune Metro to Rs 1,322 crore

pune Updated: Apr 05, 2018 15:34 IST
Shrinivas Deshpande
Shrinivas Deshpande
Hindustan Times, Pune
Pune Metro,Pune,Budgetary allocation

Maharashtra Metro Rail is a 50:50 Indian and Maharashtra government joint venture executing the Rs11,420 crore Pune Metro project. (Sanket Wankhade/HT PHOTO)

The central government has substantially hiked budgetary allocation for the Metro projects in Pune. An amount of Rs 1,322 crore has been allocated for the Pune Metro Project, said statement by Maha-Metro Corporation, which is responsible for executing the project.The total budgetary allocation for the Pune and Nagpur Metro projects of the state stands at Rs 2,829 crore as compared to Rs 1,850 crore allocated during the FY 2017-18, which is an increased allocation by Rs 979 crore, said Maha-Matro.

On the lines of central government, state government has allocated Rs 110 crore for financial year 2017-18.

Of the Rs 1,322 crore allocated by the government of India for Pune project, equity is Rs 250 crore, subordinate debt (SD) towards central taxes is Rs169 crore and PTA (Pass Through Assistance) against Overseas Development Assistance (ODA) loan is Rs 903 crore. The fund allocated for the FY 2017-18 was Rs 500 crore. Thus budgetary allocation for Pune project during the FY 2018-19 is higher by Rs 822 crore as compared to FY 2017-18 from Central government.

Maharashtra Metro Rail is a 50:50 Indian and Maharashtra government joint venture executing the Rs11,420 crore Pune Metro project. Maha-Metro is building 31.2-km Metro rail network in Pune which will have two corridors and have 31 stations in all.The project will cover a distance of 31.254 km, which includes the Pimpri-Chinchwad to Swargate corridor covering (16.6-km) and the Vanaz to Ramwadi corridor (14.7 km).

Pune The central government has substantially hiked budgetary allocation for the Metro projects in Pune. An amount of Rs 1,322 crore has been allocated for the Pune Metro Project, said statement by Maha-Metro Corporation, which is responsible for executing the project.The total budgetary allocation for the Pune and Nagpur Metro projects of the state stands at Rs 2,829 crore as compared to Rs 1,850 crore allocated during the FY 2017-18, which is an increased allocation by Rs 979 crore, said Maha-Matro.

On the lines of central government, state government has allocated Rs 110 crore for financial year 2017-18.

Of the Rs 1,322 crore allocated by the government of India for Pune project, equity is Rs 250 crore, subordinate debt (SD) towards central taxes is Rs169 crore and PTA (Pass Through Assistance) against Overseas Development Assistance (ODA) loan is Rs 903 crore. The fund allocated for the FY 2017-18 was Rs 500 crore. Thus budgetary allocation for Pune project during the FY 2018-19 is higher by Rs 822 crore as compared to FY 2017-18 from Central government.

Maharashtra Metro Rail is a 50:50 Indian and Maharashtra government joint venture executing the Rs11,420 crore Pune Metro project. Maha-Metro is building 31.2-km Metro rail network in Pune which will have two corridors and have 31 stations in all.The project will cover a distance of 31.254 km, which includes the Pimpri-Chinchwad to Swargate corridor covering (16.6-km) and the Vanaz to Ramwadi corridor (14.7 km).

First Published: Apr 05, 2018 14:48 IST