Budget 2023-24: Rs 19,518 crore allocated for metro projects all over India

Officials announced on Wednesday that the Union Budget 2023-24 has set aside a sum of Rs 19,518 crore for metro projects throughout India.

Finance Minister Nirmala Sitharaman in her speech in Lok Sabha said, “Our vision for the Amrit Kaal includes technology-driven and knowledge-based economy with strong public finances, and a robust financial sector. To achieve this, Jan Bhagidari through Sabka Saath Sabka Prayas is essential”.

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A senior official said the total budgetary outlay for year 2023-24 for all metro projects stands at Rs 19,518 crore.

The allocation in 2022-23 was Rs 19,130 crore. However, the revised budget estimates for the same for 2022-23 was 15,628 crore, according to budget documents.

In recent years, the Union Ministry of Finance has been allocating budget for all metro projects in India, instead of the Delhi Metro alone, a senior official at the DMRC said.

The outlay for this year includes equity investment of Rs 4,471 crore, subordinate debt of Rs 1,324 cr and pass through assistance Rs 13,723 crore.

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The Centre has allocated Rs 3,596 crore to the National Capital Region Transport Corporation (NCRTC) for the country’s first Regional Rapid Transit System (RRTS) project, a fall of about 23 per cent from the outlay in the last budget.

In the Budget 2022-23, the government had also allocated Rs 4,710 crore to the NCRTC.

The Delhi-Ghaziabad-Meerut RRTS corridor is being constructed at a rapid pace at various locations. Stations on the corridor are taking shape specially the stations of the priority section, the NCRTC said in a statement after the Budget speech on Wednesday.

(With agency inputs)