Centre may spend Rs 2.5 Lakh Crore on metro rail projects in India
New Delhi: After a failed public-private partnership (PPP) model to execute metro rail projects in India, the government will spend Rs 2.5 lakh crore to implement metro rail projects in various Indian cities, said ratings agency ICRA. The spending will be over the next five years, eventually helping not only the stressed infrastructure companies to present stronger financial results, but also companies involved in manufacturing and supply of rolling stock, it said. The government of India has standardised specifications for rolling stock and signalling systems for metro rail so that "Make in India" can be promoted. A month ago, Prime Minister Narendra Modi, during the inauguration of Kochi Metro, had said, "A number of initiatives have been taken to enhance public transport in the cities. Foreign investment has been invited in this sector. Fifty cities in India are ready to implement metro rail projects." In fact, in April 2017, the Union government also issued a Na...