Bangalore Metro | State cabinet allocates Rs 5000 crore for Namma Metro projects
Bengaluru: The Karnataka Government has allocated around Rs 5,000 crore as its share towards ongoing Phase-II projects of the Bangalore Metro Rail Corporation Ltd (BMRC) in budget. The government also made public the proposed length and route of Metro Phase-III for the first time. According to a BMRC official, “The state has given us a contribution of nearly Rs 5,000 crore. We had requested for Rs 5,600 crore in this year’s budget.” The sum will be utilised towards ongoing Phase-II works.” The 72.1 km Phase-II is an extension of all the four Phase-I lines as well as two new lines from Nagawara to Gottigere and the R V Road to Bommasandra line. The entire project costs Rs 26,405 crore out of which 55% is provided jointly by the Centre and the state and 45% is taken as loans. The Union budget also allocated funds for BMRC. This is the highest ever budgetary allocation for BMRC in the state budget. In 2016, it was earmarked Rs 1,881 crore, while in 2017 it was allo...