JOIN USBudget approval for suburban rail: Officials to wait for pink book
The Centre on Saturday approved the cost of the Bengaluru suburban rail at Rs 18,600 crore in a move seen as a big push for the 148-Km local train network that is seen as a long-term solution to the city's traffic congestion.
This was announced by Finance Minister Nirmala Sitharaman while presenting the Union Budget 2020 on Saturday.
Senior railway officials noted that the Centre's formal approval for the sharing of equity and the cost of the project was a big boost but only the pink book can clarify as to the emphasis the project will get in the overall scheme of things.
"The approval will be placed before the Cabinet Committee of Economic Affairs for further details, which will decide the details of allocations to ministries and major projects. Only the pink book can provide clarity on the matter," an official at SWR said.
As outlined by the extended Railway Board, the state and Centre will each share 20% of the cost and raise the remaining 60% through external funding.