Maha Metro gets Rs.530 crores for Nagpur & Pune Metro projects

Nagpur (Urban Transport News): The Maharashtra Government sanctioned Rs.300 crore for Nagpur Metro and Rs 230 crore for Pune Metro Rail Project in the budget for the Financial Year 2019-20, tabled during ongoing assembly session on Wednesday.

Thus an amount of Rs 530 crores has been collectively sanctioned for Nagpur and Pune Metro rail projects. The budget being interim in nature, the budgetary allocation is initial.

The revised estimate at the end of this financial year, as always, is expected to exceed the amount sanctioned in the budget today.

The state Finance Minister Sudhir Mungantiwar tabled the budget in the House today. The Revised Estimate approved for the financial year 2018-19 has been hiked for both the projects – Rs 460 crore has been allocated against the Budgetary Estimate of Rs 310 crore for Nagpur and Rs 472.77 crore as against Rs 130 cr in the Budgetary Estimate for Pune Metro Project.

The budgetary allocation for 2019-20 has been pegged at Rs 300 crore for Nagpur and Rs 230 crore for Pune. The Rs 300 crore sanctioned for Nagpur incorporates Rs 200 crore as equity and Rs 100 crore as Sub-ordinate Debt (SD) for Central Taxes (CT).

On the other hand, the amount sanctioned under various heads for Pune project is Rs 170 crore as equity and Rs 60 crore as SD for CT.