Budgetary allocation for Nagpur, Pune Metro Substantially Hiked

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Budgetary allocation for Nagpur, Pune Metro Substantially Hiked
Budgetary allocation for Nagpur, Pune Metro Substantially Hiked

MAHARASHTRA METRO RAIL CORPORATION LIMITED

PUNE:  The Union Government has substantially hiked budgetary allocation for the twin Metro projects i.e., Nagpur and Pune. While an amount of Rs. 1,507 crore has been allocated for the Nagpur Project. Pune Metro has got Rs. 1,322 crore. The total budgetary allocation for the two Metro projects of the state stands at Rs 2,829 crore as compared to Rs.1850 crore allocated during the FY 2017-18 i.e., an increased allocation by Rs.979 crore. The state government has also allocated Rs.310 crore for Nagpur Metro and Rs.130 crore for Pune Metro. The fund allocated for the FY 2017-18 was Rs.260 crore and Rs.110 crore respectively. Thus fund allocated for the FY 2018-19 is higher by Rs.70 crore as compared to FY 2017-18. Of the Rs 1,507 crore allocated by Government of India (GOI) for Nagpur project, Rs 279 crore is Equity, Rs. 185 crore as Subordinate Debt (SD) towards Central Taxes and Rs 1,043 as Pass Through Assistance (PTA) against KfW and AFD loan. The fund allocated by GOI for Nagpur Project for the FY 2017-18 was Rs. 1,350 crore. Thus for the FY 2018-19 Nagpur project got an additional allocation of Rs. 157 crore as compared to FY 2017-18 from GOI. Of the Rs. 1,322 crore allocated by GOI for Pune project, Equity is Rs. 250 crore, Subordinate Debt (SD) towards central taxes is Rs. 169 crore and PTA 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 GOI.

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