Published On:March 2 2015
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Rs. 996 Crore to Keep 'Namma Metro' on Track.
A sum of Rs. 995.79 crore has been announced for Phase I and Phase II of 'Namma Metro' in the Union Budget.
Bangalore Metro Rail Corporation Limited (BMRCL) had requested Rs. 1,224 crore from the Centre for the financial year 2015-2016 - Rs. 624 crore for Phase I and Rs. 600 crore for Phase II.
'The amount announced in the budget is perfectly comfortable for us right now. The Centre has not yet given us a clear break-up for the two Phases,' said M Navin Kumar, Director of Finance, BMRCL.
'It is a matter of time before we also get a sum of Rs. 500 crore from Japan International Cooperation Agency (JAICA),' one of our prominent funders, he said.
'In case of any additional requirement, we can ask for it under the 'Revised Estimates' that will follow the budget,' the Director said. Another top official concurred with his view. “The amount released is quite sufficient for now.'
'Before the next financial allotment by the Centre, the State government will also release its share in its budget. So we do not have any financial issues and if we encounter them also, we can request for more amount under Supplementary Demands,' the official said.
The amount announced is nearly Rs. 50 crore over that announced in the financial year, 2014-2015.
During the previous fiscal, a total of Rs. 1,371.87 crore was provided for Namma Metro from the Centre - Rs. 947.87 crore was provided through the Union Budget and an additional Rs 424 crore was given later.
THE NEW INDIAN EXPRESS