Business & Economy

Bengaluru Suburban Transport Project at a cost of Rs 18,600 crore proposed

NetIndian News Network

New Delhi, February 1, 2020

Finance Minister Nirmala Sitharaman today proposed a 148-km-long Bengaluru Suburban transport project at a cost of Rs 18600 crore, with the fare structure on the metro model.

The Central Government would provide 20% of equity and facilitate external assistance up to 60% of the project cost, the Minister said while presenting the Union Budget 2020-21 in Parliament.

Referring to efforts to ensure optimisation of costs of Indian Railways, she proposed setting up a large solar power capacity alongside the rail tracks, on the land owned by the railways

Four station re-development projects and operation of 150 passenger trains would be undertaken through Public-Private Partnership (PPP) mode.

More Tejas-type trains will connect iconic tourist destinations. High-speed train service between Mumbai to Ahmedabad would be actively pursued.

With an aim to build a seamless national cold supply chain for ‘perishables’, Sitharaman also proposed that the Indian Railways will set up a “Krishi Rail”- through PPP arrangements. There will be refrigerated coaches in express and freight trains as well, she said.

Referring to measures for improving roads Infrastructure, she said accelerated development of highways will be undertaken. “This will include the development of 2500 Km access control highways, 9000 Km of economic corridors, 2000 Km of coastal and land port roads and 2000 Km of strategic highways.

“Delhi-Mumbai Expressway and two other packages to be completed by 2023. Chennai-Bengaluru Expressway will also be started. It is proposed to monetise at least 12 lots of highway bundles of over 6000 Km before 2024,” she added.

Highlighting Prime Minister Narendra Modi's statement in the Independence Day Speech 2019 that Rs 100 lakh crore would be invested on infrastructure over the next 5 years Sitharaman said, “As a follow-up measure, I had launched the National Infrastructure Pipeline on December 31 of Rs 103 lakh crore. It consists of more than 6500 projects across sectors and are classified as per their size and stage of development.”

The National Skill Development Agency will give special thrust to infrastructure-focused skill development opportunities and that a huge employment opportunity exists for India’s youth in construction, operation and maintenance of infrastructure.

The Union Budget proposed to set up a project preparation facility for infrastructure projects. This programme would actively involve young engineers, management graduates and economists from Universities.

The Budget also proposed to direct all infrastructure agencies of the government to involve youth-power in start-ups.

The Finance Minister proposed a National Logistics Policy, to be released soon. It would clarify the roles of the Union Government, State Governments and key regulators and create a single window e-logistics market and focus on the generation of employment, skills and making MSMEs competitive.

NNN

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