Private investment in Metro rail

Finance Minister Arun Jaitley on Wednesday said that a new metro rail policy will be announced and the existing Metro Rail Act will be rationalised to attract private investments in metro rail constructions.

“Metro rail is emerging as an important mode of urban transportation. A new metro rail policy will be announced with focus on innovative models of implementation and financing, as well as the standardisation and indigenisation of hardware and software. This will open up new job opportunities for our youth,” Jaitley said, while presenting the Budget.

“A new Metro Rail Act will be enacted by rationalising existing laws. This will facilitate greater private participation and investment in construction and operation,” he said.

At present, most metro railways, except for Mumbai and Hyderabad, are funded by both the Centre and the state governments. However, as more states are demanding metro railways, the urban development ministry has been pushing for private investment in the ventures.