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

Alphabet gets CCI’s clearance to acquire stake in Flipkart

‘COVID was different’: SC bemoans distribution of free ration

Nagarjuna’s younger son Akhil Akkineni engaged

People getting heartburns after I became CM for second time: Siddaramaiah

Newborn baby kidnapped from Kalaburagi hospital in Karnataka

Gukesh draws with Liren in second game of World Chess Championship

All about ‘One Nation One Subscription’ scheme

Related Articles More

CAMPCO urges Centre to take action on areca nut ‘carcinogen classification’

Renukaswamy Murder Case: High Court defers hearing on Darshan’s bail plea to Nov 28

People getting heartburns after I became CM for second time: Siddaramaiah

Newborn baby kidnapped from Kalaburagi hospital in Karnataka

Assam woman found murdered in service apartment in Bengaluru

MUST WATCH

Grafting

Coconut Flower

Prakash Belawadi

Naxal Leader Vikram Gowda

Christmas Cake Fruit Mixing


Latest Additions

Alphabet gets CCI’s clearance to acquire stake in Flipkart

‘COVID was different’: SC bemoans distribution of free ration

Telugu actor Shri Tej booked for alleged cheating, false marriage promise

Five arrested in connection with botched angioplasty deaths at Gujarat hospital

Deceased Kannur official’s widow moves Kerala HC for CBI probe into his death

Thanks for visiting Udayavani

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