Will the State allocate Rs. 324 crore annually for five years for the Light Metro project in the two cites ?. A reply to this question is what the elected representatives, people, DMRC and the project officials are anxiously awaiting from the government.
The Rs. 324 crore yearly outgo of the State includes Rs. 200 crore for the capital city and Rs. 124 crore for Kozhikode. When the project is executed fully in 2021, this will come to Rs. 1,619 crore out of a completion cost of Rs. 6,728 crore. The Rs. 1,619 crore as State share (20 per cent) includes the equity of Rs. 869 crore, Rs. 409 crore (sub debt for central taxes) and Rs. 361 crore as sub debt for land. “Why can’t the State with a budget of Rs. one lakh crore spare Rs. 200 crore annually for the capital ?,’’asks DMRC Principal Adivser E. Sreedharan.
The Centre’s share (20 per cent) projected by the DMRC is Rs. 1,278 crore with yearly outgo of Rs. 256 crore for two cities. The remaining Rs. 3,831 crore (60 per cent) is to be mobilised through loans locally or from external funding agencies.
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