More funds for Metro rail

More funds for Metro rail
New Delhi, Feb 26, DHNS

To expedite the construction of metro rail project in Bangalore, the Centre has increased its financial assistance to Rs 576 crore in the Budget as against the Rs 386 crore allocation last year.

The Budget, which underlined the urgency of improving urban infrastructures facilities, said that of the Rs 576 crore, the equity by the Union government will be Rs 100 crore and the rest will be raised from loan.

When the metro rail project was launched, it was targeted to complete all its reaches by 2010. However, due to delay in execution, the deadline has now been extended to 2013.
The Union Urban Development Ministry, one of the partners to implement the project, has expressed its worry over the delays.

In the Budget, National Institute of Mental Health and Neuro Sciences (Nimhans), Bangalore, has been allotted Rs 113 crore against Rs 125 crore of last year while Indian Institute of Science (IISc), Bangalore, will receive Rs 113 crore against Rs 125 crore last year.