New metro rail policy gets nod

The Union Cabinet on Wednesday cleared a new metro policy and stated that all future projects would take heed of their socio-economic impact and will not be based on the financial returns from the contracts.

A statement issued by the ministry of housing and urban development stated that the policy opens a big window for private investments across a range of metro operations and will make the PPP component mandatory for getting central assistance for new projects.  

“Private investment and other forms of financing have been made compulsory to meet the huge resource demand for capital-intensive high capacity ,” the statement mentions.