Unlike in the previous years, the Union budget this time around hasn’t made individual allocations for any of the metro rail projects being undertaken in various cities in India, but has earmarked a cumulative capital allocation of ₹17,810 crore against equity, sub debt and pass through assistance.
KMRL’s response
Responding to this, Kochi Metro Rail Limited (KMRL) officials said KMRL had requested for an allocation of ₹238 crore as pass through assistance and ₹65.91 crore as sub debt. “We hope this amount will be released to KMRL in due course,” they said. The budget, however, has stated that there will soon be a new Metro Rail Policy with focus on innovative models of implementation and financing, as well as standardisation and indigenisation of hardware and software. There will be a new Metro Rail Act to be enacted by rationalising the existing laws with a view to facilitating greater private participation and investment in construction and operation.
Smart Cities mission
For the proposed Smart Cities, a common allocation of ₹3,989.5 crore is provided for in the budget. The Ministry of Urban Development guidelines on the mission suggested that the Union government’s contribution for the Kochi Smart City in the coming financial year would be ₹98 crore.
While the budget mentions a capital outlay of ₹507 crore for the public sector Cochin Shipyard, sources said it’s actually the money already earmarked by the yard itself for its proposed expansion plans and doesn’t indicate a fresh Central allocation.
The budget has allotted ₹37.28 crore to the Cochin Port Trust of which ₹10 crore is in the form of assistance.
