PPP to be unleashed to develop rail infrastructure: Finance Minister

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New Delhi: Presenting the first Budget of the Modi 2.0 government Finance Minister Nirmala Sitharaman Friday said corporate India is a job creator as well as wealth creator and called for Public Private Partnership (PPP) to develop rail infrastructure.

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  • She said, 657 km of metro rail network has become operational across the country.
  • Railway infrastructure will need Rs 50 lakh crore investment till 2030, she said.
  • Schemes such as Bharat Mala, Sagarmala and UDAN (Ude Desh Ka Aam Nagrik) are bridging rural urban divide and improving transport infrastructure, the minister said.
  • “Railways will be encouraged to invest in suburban railways through special purpose vehicles (SPVs) and enhance metro rail network through PPPs,” she said.
  • Government envisions using rivers for cargo transportation, which will also decongest roads and railways, she said.
  • She added, railway stations modernisation will be launched this year.
  • The minister said,”I propose to enhance the metro railway initiative by encouraging more PPP model initiatives.”
  • She said, a 210-kilometer line of metro will be made operational in 2019.
  • “Adoption of PPP in metro rail projects has been an enduring challenge. The solution lies in innovative approaches and bankable projects,” she said.

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