Metro projects get enhanced allocation in budget; Delhi gets Rs 150 cr for expansion into NCR

New Delhi: The Centre has set aside over Rs 17,810 crore for metro projects across the country in the Union Budget for 2017-18, which is a jump of nearly 14 percent over last year's allocation.

Presenting the budget, Finance Minister Arun Jaitley said a new metro rail policy will have innovative methods of financing. However, unlike last year, the budget document did not provide break-up for the individual projects like those being executed by the Delhi Metro Rail Corporation (DMRC).

The only separate mention was about Rs 150 crore being granted to Delhi Metro for its expansion into NCR areas such as Noida, Ghaziabad, Bahadurgarh, which is nearly double as compared to last year's Rs 87.4 crore.

Reuters

Reuters

This year, the pass through assistance i.e. loan amount provided by external agencies like JICA (Japan International Cooperation Agency) has been pegged at Rs 13,644 crore, as against last year's Rs 12,470.75 crore. While the Rs 42,000 crore Phase III project of DMRC is nearing completion and is likely to see a staggered launch this year, its Phase IV has recently been cleared by the Delhi government and it awaits the clearance of the Centre.

The mega project, as part of which 72 new stations will be built, will cost over Rs 50,000 crore, which is to be borne equally by the state and the Centre.

Vivek Zhang, Chief Marketing Officer at Vivo India also said the move to impose 2 per cent customs duty on PCBs might initially result in a hike in the cost of smartphones. He, however, did not quantify the potential hike.

Intex Technologies Chairman and Managing Director Narendra Bansal said the increase is "very marginal" and will have no impact on the consumer. "First, the increase is so minuscule that brands will absorb this impact and will not pass it on to the consumer. Second, globally and in India, prices of mobiles are coming down and every month cheaper handsets are making their debut in the market," he said.

In such a scenario, in future too, prices of mobiles will keep falling continuously with the result this increase in duty will get mitigated by the low cost of handsets, he added.


Published Date: Feb 02, 2017 07:36 am | Updated Date: Feb 02, 2017 08:24 am


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