Allot more funds for Kolkata Metro: Parliamentary panel

[] The standing committee on railways has asked the transport behemoth to allocate more funds to the Kolkata Metro Rail Corporation Limited, to cater to the needs of the congested city

The standing committee on railways, headed by Trinamool MP from Kolkata north, Sudip Bandyopadhyay, has said that the allocation to the Kolkata Metro Rail Corporation Limited (KMRCL) has been revised downwards by almost 25 per cent, from Rs 1,937 crores at BE (budget estimate) 2017-2018 to Rs 1,500 crores at RE (revised estimate) 2017-2018. Further, the budgetary allocation for the year 2018-2019 has been kept at Rs 1,100 crores, which is Rs 400 crores lower than RE 2017-2018.

You are reading: Allot more funds for Kolkata Metro: Parliamentary panel

Read also : Senior living communities: Design parameters that one should look for

[] Funds not a constraint for ongoing Kolkata Metro projects: GM

In this regard, we strongly opine that more funds should be allocated to the KMRCL, as it is not only the oldest running metro in the country but also caters to the needs of growing population of the largest city of eastern India, which is faced with acute congestion on roads,” the report which was tabled in both houses of parliament, on March 6, 2018, said.

The committee said that since the Kolkata metro was owned by the Railways, it was imperative for the railways to provide sufficient funds to it.

Read also : Realty industry hails RBI’s decision to allow banks to invest in REITs/InvITs

It recommended that instead of reducing fund allocation to KMRCL, the ministry should enhance the funding, so that all the ongoing works and projects are completed within the stipulated time frame, without any time and cost escalation.

“Once completed, operationalised metro lines will start paying off the railways’ incurred cost, as they will run in remunerative parts of the city,” the report said.

Copyright belongs to:

Category: Lifestyle

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button