Ministry puts condition for release of VGF
ECONOMY & POLICY

Ministry puts condition for release of VGF

Union Ministry of Urban Development put several conditions for release of its share of the viability gap funding (VGF) for the under-construction Mumbai metro rail project.

Among other conditions, the urban ministry wants the Mumbai Metropolitan Region Development Authority (MMRDA) to work towards a unified transport system, such as integrated ticketing with other modes of transport, commensurate fare rises for all modes of transport, a unified urban transport authority.

Rahul Asthana, Metropolitan Commissioner, MMRDA informed this after the review meeting with the union ministry.

During the meeting, MMRDA complained that the centre has not yet released over a fifth of its share of the VGF for the project even though most of the construction for the first metro corridor is over.

Asthana said wherever possible, MMRDA tried to integrate the metro with other modes of transport. We have tried to provide access to bus stops and railway stations from the metro.

The centre was to pay VGF of Rs 460 crore for the Versova-Andheri-Ghatkopar Metro. The project is being implemented on a public-private partnership basis. MMRDA was to bear Rs 190 crore. More than five years after the project took off, the centre is yet to release Rs 160 crore.

Union Ministry of Urban Development put several conditions for release of its share of the viability gap funding (VGF) for the under-construction Mumbai metro rail project. Among other conditions, the urban ministry wants the Mumbai Metropolitan Region Development Authority (MMRDA) to work towards a unified transport system, such as integrated ticketing with other modes of transport, commensurate fare rises for all modes of transport, a unified urban transport authority. Rahul Asthana, Metropolitan Commissioner, MMRDA informed this after the review meeting with the union ministry. During the meeting, MMRDA complained that the centre has not yet released over a fifth of its share of the VGF for the project even though most of the construction for the first metro corridor is over. Asthana said wherever possible, MMRDA tried to integrate the metro with other modes of transport. We have tried to provide access to bus stops and railway stations from the metro. The centre was to pay VGF of Rs 460 crore for the Versova-Andheri-Ghatkopar Metro. The project is being implemented on a public-private partnership basis. MMRDA was to bear Rs 190 crore. More than five years after the project took off, the centre is yet to release Rs 160 crore.

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