Union Budget 2023-24: Government Allocates Rs 19,518 Crores to Metro Projects Across India

This year's outlay comprises of Rs 4,471 crore equity investment, Rs 1,324 crore of subordinate debt and Rs 13,723 crore of pass through assistance.

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NEW DELHI (Metro Rail News): Officials declared on 1st February that the government had allotted Rs 19,518 crore to all metro projects around India in the Union Budget 2023-24. In her speech in Lok Sabha, Finance Minister Nirmala Sitharaman articulated her ambition for the ‘Amrit Kaal’, which involves a proficient technology and knowledge-based economy with strong public finances and a firm financial sector.

She also highlighted the importance of Jan Bhagidari through Sabka Saath Sabka Prayas to accomplish this.

A senior representative of the Union Ministry of Finance asserted that the total budgetary outlay for the year 2023-24 for all metro-related projects in India is Rs 19,518 crore.

This figure is over the Rs 19,130 crore allocated in the previous financial year of 2022-23, with the revised budget estimates for the same being Rs 15,628 crore, as stated in the budget documents. This year’s outlay comprises Rs 4,471 crore in equity investment, Rs 1,324 crore of subordinate debt and Rs 13,723 crore of pass-through assistance.

The National Capital Region Transport Corporation (NCRTC) has been provided with Rs 3,596 crore by the Centre for the Regional Rapid Transit System (RRTS) project, which is a decline of 23 per cent from the previous budget.

In Budget 2022-23, the government had also set aside Rs 4,710 crore for the NCRTC. According to a statement issued by the NCRTC after the Budget announcement, the Delhi-Ghaziabad-Meerut RRTS corridor is being developed rapidly in multiple areas, and the stations on the route are being constructed at a fast rate, particularly those on the priority section.

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