Govt explores funding options for NCR’s rapid transport

To fund the ambitious regional rapid transport system to be built by the NCR transport corporation, authorities would focus on financing mechanisms

Written by FE Bureau

August 2, 2013 04:05 IST

To fund the ambitious regional rapid transport system to be built by the NCR transport corporation, authorities would focus on financing mechanisms such as enhancing circle rates and property taxes near the areas through which the rapid corridor will pass. Levying of impact fee, borrowings from HUDCO and banks and raising money through bonds will also be considered. The government has planned three separate corridors connecting Delhi with Alwar, Meerut and Panipat at an estimated cost of R72,000 crore.

On Wednesday, all NCR states and the Centre entered into an agreement to form the National Capital Region Transport Corporation. Urban development secretary Sudhir Krishna said, ?Regional Rapid Transit System corridors cannot be funded through Gross Budgetary support as the requirement is huge. Various

innovative funding mechanisms have to be adapted. RRTS corridors are expected to be built in five years.?

This article was first uploaded on August two, twenty thirteen, at five minutes past four in the morning.