Presenting the first Budget of the Modi 2.0 government on July 05, 2019 Union Finance Minister Nirmala Sitharaman said, corporate India is a job creator and called for cooperative arrangement between the Public Private Partnership (PPP) to develop metro rail infrastructure.
- She said,”I propose to enhance the metro railway initiative by encouraging more PPP model initiatives. A 210-kilometer line of metro will be made operational in 2019. Time is right for India to enter into aircraft financing and leasing.”
- “Adoption of PPP in metro rail projects has been an enduring challenge. The solution lies in innovative approaches and bankable projects,” she said.
- The Finance Minister also said that railways needs an investment of Rs. 50 lakh crores between 2018 and 2030.
- The Minister added,”Railways will be encouraged to invest more in suburban railways through Special Purpose Vehicle (SPV) structures like Rapid Regional Transport System (RRTS) proposed on the Delhi-Meerut route.”
Railway Budget 2019-20 highlights-
- Massive programme of railway station modernization to be launched this year.
- Railways to be encouraged to invest more in suburban railways through SPV structures such as Rapid Regional Transport System; more PPP initiatives to be encouraged in rail sector.
- Railway infrastructure will need an investment of Rs 50 lakh crore between 2018 and 2030.
- A Public-Private partnership will usher the new dawn of Indian railway. A PPP will make services better and faster.
- Government envisions using rivers for cargo transportation, which will also decongest roads and railways.
- 657 km of metro rail network has become operational in the country.