The Union Finance Minister Nirmala Sitharaman on Saturday announced Rs 18600 crore for the development of the Bengaluru rail suburban transport project. The darling city will be getting a 148 km long suburban rail transport network and it will have the fares based on the Namma Metro model.
Suburban railway gets centers’ nod
The long-pending and the most demanded suburban rail project for Silicon City took a final drive on Saturday with FM Nirmala Sitharaman making a legal announcement in the Budget and promising to provide 20% of equity and promote external assistance up to 60% of the project cost.
“Suburban train project for Rs 18,600 crore will be given to Bengaluru. The Centre is all set to provide 20% of the funding and give external funding assistance of up to 60% of the cost,” said the Finance Minister.
A 148 KM suburban rail project
After Delhi, Mumbai, Kolkata, Chennai, and Secunderabad, Bengaluru will become the latest city to have its own suburban rail network. The state government has proposed a revised detailed project report (DPR) that suggests around 55-odd suburban railway stations.
At the present moment, the 148-km long suburban rail project is pending before the Cabinet Committee on Economic Affairs (CCEA) for permission. The railway officials say that the final Cabinet agenda for the suburban rail project will be put before the CCEA once it gets clearance from the Finance Ministry.
And now the Finance Minister had mentioned about the Centre’s commitment to the project, the cabinet agenda may soon get the ministry’s approval.
The identified four corridors are Chikkabanavara–Yeshwantpur–Byappanahalli, KSR Bengaluru city–Devanahalli, Kengeri–KSR Bengaluru–White field and Heelalige -Yelahanka–Rajanukunte.
Delighted Chief Minister
Addressing the suburban railway project decision by the center, the Chief Minister said, “We are going to contribute money in the Budget. We want to develop it in three years. We will start work as quickly as possible.”
The CM further praised FM Nirmala Sitharaman’s decision to approve Bengaluru suburban rail.
“The move will support the infrastructure facilities in Bengaluru which has turned out to be a popular investment objective for the MNCs. This will help us to reduce traffic congestion in this investment-friendly city,” said Yeddyurappa.