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

Drugs worth Rs 6 crore seized in Bengaluru, five arrested

Siddaramaiah urges Nirmala Sitharaman to address NABARD’s loan cuts to farmers

Karnataka HC denies anticipatory bail to Prajwal Revanna in sexual harassment case

Delhi court stays defamation case against CM Atishi

Awards don’t create value for independent films in India: Manoj Bajpayee

Public Alert: Cyber fraudsters impersonating traffic police to demand fines

UP: 25 people booked for attacking civic officials for encroachment removal

Related Articles More

Drugs worth Rs 6 crore seized in Bengaluru, five arrested

Siddaramaiah urges Nirmala Sitharaman to address NABARD’s loan cuts to farmers

BJP stages protest against Congress govt in Karnataka over Waqf properties row

Loyalty Remembered: Mangaluru Airport’s K9 hero Jack passes away

Waqf issue: BJP stages Namma Bhoomi Namma Hakku protest in Bengaluru

MUST WATCH

Christmas Cake Fruit Mixing

DK Shivakumar

Rose Cultivation

Geethotsava

Naxal Operation


Latest Additions

Air pollution: SC flags Delhi govt’s failure to implement GRAP-4 curbs on entry of trucks

Drugs worth Rs 6 crore seized in Bengaluru, five arrested

Siddaramaiah urges Nirmala Sitharaman to address NABARD’s loan cuts to farmers

Satwik-Chirag enter semifinals, Lakshya loses to Antonsen in China Masters

BJP stages protest against Congress govt in Karnataka over Waqf properties row

Thanks for visiting Udayavani

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