Budget 2019-20: Metro-railway initiatives to be enhanced by encouraging more PPP

New Delhi: Finance Minister Nirmala Sitharaman on Friday said that corporate India is a job creator and called for cooperative arrangement between the private and public players (PPP) to develop metro rail infrastructure.

"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," she said while presenting the first Budget of the Narendra Modi government.

"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 spoke about improving the Railway infrastructure and said that this sector needs an investment of Rs 50 lakh crores between 2018-2030.

"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," she added.

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