The State government has announced allocation of ₹500 crore for implementing the suburban rail project in the city.
The State providing its share partially will help the Special Purpose Vehicle implement the project which has remained on paper for over three decades.
To implement the 148-km suburban rail network with 57 stations, the Union and the State governments had agreed to provide 20% of equity each. The Union government will facilitate external assistance up to 60% of the project cost, which is estimated at ₹18,600 crore.
Announcing financial allocation to the Bengaluru Metropolitan Transport Corporation, the Chief Minister said in his budget speech that the corporation is purchasing 1,500 diesel buses at an expenditure of ₹600 crore to augment transport facility for the increasing population in Bengaluru city. For this, the government will provide ₹100 crore every year, for a period of seven years, in the form of loan subsidy.
The government is providing a grant of ₹100 crore for adding 500 ordinary electric buses to the fleet of the corporation.
The budget states that a comprehensive mobility programme for Bengaluru is being prepared for the first time. Infrastructure facilities, transit-based development and essential regulatory measures will be taken up with an objective of increasing the utilisation of public transport from 48% to 73%.
A vehicle location tracking system will be installed in passenger and goods transport vehicles moving in the State at an expenditure of ₹20 crore. For this, ₹8 crore will be provided from the Road Safety Fund.
