Union Budget 2021: Centre to fund 15% of Bengaluru Metro Phase 2 (A) and 2 (B) projects


Team Udayavani, Feb 2, 2021, 12:17 PM IST

Source: Unsplash

Bengaluru: Union Finance Minister Nirmala Sitharaman on February 1 announced the funding for Bengaluru Metro Phase 2 (A) and 2 (B) projects. The project is a 58.19 km stretch from Central Silk Board junction to KR Puram and KR Puram to Kempegowda International Airport and is estimated to cost Rs. 14,788 crore. The Union Government will be funding about 15% of the estimated cost.

Under flagship projects, the Bengaluru-Chennai Expressway’s construction will begin in 2021-2022 as per the budget document.

The allocation to R&D, health, agriculture, education, urban area sanitation, an extension of tax holiday to startups, capital gain exemptions, etc. is expected to boost the economy.

The opposition leaders have criticized the budget for handing the state a raw deal, whereas BJP leaders such as BS Yediyurappa claimed it as a pro-poor and pro-middle class budget.

About the center’s counterpart funding of the total project cost of Rs. 14,778 crore, the centre only funds 15% of the cost, 35% will be raised from multilateral and bilateral development agencies through the Union Government, 35% will be funded by State government and the rest 15% will be raised from the private sector.

Calling the announcement of ORR-Airport Metro a big support for public transport and economic activities in Bengaluru, Ajay Seth, MD, BMRCL asserted that the next two steps for formal approval are consideration and recommendation by the Public Investment Board and approval by the CCEA.

He further informed that MoHua working to get these two steps completed within March 2021.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

World Bunts Summit to be held in Mumbai on December 7

SC dismisses PIL seeking CBI probe into Tirupati laddus row

Salman Khan gets another threat; message sent to Mumbai traffic police helpline

SC overrules 1967 verdict holding AMU can’t be minority institution

BJP MP Tejasvi Surya, editors of Kannada news portals booked for allegedly spreading fake news

Egg distribution scheme for school children under scrutiny over alleged mismanagement

India Post M’luru division to offer doorstep service to pensioners for Jeevan Praman certificate

Related Articles More

World Bunts Summit to be held in Mumbai on December 7

DK Child Protection Unit to conduct campaign to raise awareness of child trafficking

Kambala: Tradition and modernity in coastal Karnataka

BJP MP Tejasvi Surya, editors of Kannada news portals booked for allegedly spreading fake news

Prime Minister’s brother Somabhai visits Udupi’s Sri Krishna Matha

MUST WATCH

Gho Pooja in Deepavali Festival

Melukote Deepavali

Ganapathi Co-operative Society Ltd

Udayavani Chinnara Banna 2024

Annapoorna Aahar | Food Places In Mysore


Latest Additions

World Bunts Summit to be held in Mumbai on December 7

SC refuses to examine plea to appoint ‘yoga mitra’ instructors in schools

Maha Vikas Aghadi a vehicle sans wheels and brakes: PM Modi

LDF lodges complaint with EC, seeks probe into distribution of food kits in Wayanad

SC dismisses PIL seeking CBI probe into Tirupati laddus row

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.