KOCHI: The new metro rail policy announced by Union Finance Minister Arun Jaitley is expected to boost the emerging mode of urban transportation. A new Metro Rail Act will be enacted by rationalising the existing laws. The policy will focus on innovative models of implementation and financing, as well as standardisation and indigenisation of hardware and software.
The policy will open up new job opportunities for the youth, observed the minister. The Act will facilitate greater private participation and investment in construction and operation. As the new policy is expected to encourage non-motorised transport system, it will have a positive impact on the projects initiated by Kochi Metro Rail Limited.
Unlike previous years, there is no specific allocation for any of the metro projects in the Union budget. Instead of giving separate allocations for various projects, a common provision of Rs 17,810.00 crore against equity, sub-debt and pass through assistance (PTA) has been provided. "The Kochi Metro Rail Limited has requested for an allocation of Rs. 238 crore as pass through assistance and Rs 65.91 crore as sub-debt. We hope this amount will be released to KMRL in due course," said Mr Elias George, managing director KMRL.
