Big blow for metro projects.
The Centre has kept an outlay of Rs 14,264.60 crore for metro projects across the country in the Union Budget for 2018-19, a reduction of nearly 20 per cent from the allocation in the previous budget.
Presenting the budget today, Finance Minister Arun Jaitley said infrastructure is the "growth driver" of the economy and urbanisation is the government's "opportunity and priority". However, the budget document did not provide a break-up for the individual projects like those being executed by the Delhi Metro Rail Corporation (DMRC). The budget also proposed a grant of Rs 50 crore to the Delhi Metro for its expansion into NCR areas. The allocation for metro projects for 2017-18 was Rs 17,810 crore and for expansion into NCR areas, the DMRC was granted Rs 150 crore.
This year, the pass through assistance such that loan amount provided by external agencies, has been pegged at Rs 10,373 crore while the equity investment figure stands at Rs 2,341 crore. According to the DMRC, the sanctioned cost for the Phase III project, which includes extension to Haryana and Uttar Pradesh, stands at Rs 44,816.91 crore. Union Minister Piyush Goyal on Thursday welcomed the Budget 2018, describing it as a "visionary" budget.
Earlier in the day, Finance Minister Arun Jaitley presented the Union Budget in the Parliament. Talking to ANI, Union Railways, Coal and Power Minister Goyal said, "It is a visionary budget. It is not populist but yet caring every section of the society". He added that fiscal prudence has also been maintained, and at the same time, a deep focus has also been given to rural India. The minister also termed the government?s decision to provide health insurance to poor as a "game changer".
"The poor of the country who used to often in the debt trap because of health expenses have been given a cover of Rs 5 lakh per family, which will cover 10 crore families. It is a game changer; moving towards healthcare for all", Goyal said. He added that the Budget has shifted focus now for strengthening the country in terms of infrastructure so that country becomes ready and prepared for a modern tomorrow and a new India.
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