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PIB approves Rs 560 bn Metro Rail Projects across India

2023-11-17

The Public Investment Board (PIB) has granted approval for metro rail ventures in Agra, Kanpur, Ahmedabad, and Patna. Additionally, it has given the green light to the Delhi-Ghaziabad-Meerut Rapid Rail Transit corridor. The Central Government intends to kickstart the development of these proposed projects, totalling Rs 560 billion, ahead of the upcoming Lok Sabha elections.

Officials have confirmed that the financial implications of the proposed metro rail projects have received approval. The detailed reports have been submitted to the Central Government for the final nod.

The Kanpur metro project is designed to encompass key areas such as IIT, Rawatpur, Bada Chauraha, Motimahal, Kanpur Central, ISBT Jhakarkatti, and Naubasta. The Agra Metro project is estimated to cost Rs 82.62 billion, while the Ahmedabad Metro Phase II project is budgeted at Rs 75 billion. The government is poised to finalise approvals for five metro rail projects nationwide?two in Uttar Pradesh, one each in Gujarat and Bihar, and the initial phase of the Rapid Rail Transit System (RRTS) in the National Capital Region?before the enforcement of the poll code of conduct.

Additionally, the government aims to lay the foundation stone for metro projects requiring an investment of approximately Rs 560 billion.

A significant hurdle in the RRTS project is the Delhi government's reluctance to contribute its share, citing a fund crunch. Sources reveal that the Centre is actively devising strategies, including the potential utilisation of a portion of the green tax collected in the city from heavy and commercial vehicles entering Delhi, to address this issue.