Nirmala Sitharaman spoke about the central counterpart funding to various Metro Rail projects.
Finance Minister Nirmala Sitharaman on Monday said that two new technologies -- MetroLite and MetroNeo -- will be deployed to provide metro rail systems at a much lesser cost in Tier 2 cities and peripheral areas of Tier 1 cities.
While presenting the Union Budget 2021-22, Ms Sitharaman said that the metro rail network of 702 km is already operational across the country, and another 1,600 km of the metro rail network is under construction in 27 cities.
"Two new technologies -- ''MetroLite'' and ''MetroNeo'' will be deployed to provide metro rail systems at much lesser cost with same experience, convenience and safety in Tier-2 cities and peripheral areas of Tier-1 cities," Ms Sitharaman said.
The Minister also spoke about the central counterpart funding to various Metro Rail projects.
"Central counterpart funding would be provided to Kochi Metro Railway Phase 2- of 11.5 km at a cost of Rs 1,957.05 crores and Chennai metro railway Phase 2 of 118.9 km at a cost of Rs 63,246 crores. The Bengaluru Metro Project- Phase 2A and 2B of 58.19 km will be provided funding of Rs 14,788 crores. While the Nagpur Metro Project Phase 2 and the Nashik Metro Project would be provided amounts of Rs 5,976 crores and Rs 2,092 crores respectively," she added.
Ms Sitharaman further said that the government will work towards raising the share of public transport in urban areas through expansion of metro rail network and augmentation of city bus service.
"A new scheme will be launched at a cost of Rs 18,000 crores to support the augmentation of public bus transport services. The scheme will facilitate deployment of innovative PPP models to enable private sector players to finance, acquire, operate and maintain over 20,000 buses. The scheme will boost the automobile sector, provide a fillip to economic growth, create employment opportunities for our youth and enhance ease of mobility for urban residents," she added.