GHAZIABAD: The second phase of Ghaziabad's ambitious Metro project -from Dilshad Garden in Delhi to New Bus Stand -is facing uncertainty over funding.
Principal secretary (housing) and Ghaziabad Development Authority (GDA) chairman Sadakant Shukla on Monday said the UP government had not allocated any funds for the project in its budget and the state agencies that had promised to partly fund the Rs 2,208 crore project were now backing out.
However, modalities are being worked out for ensuring the ongoing Metro work is not affected due to paucity of funds and a decision is likely to be taken soon in Lucknow over external funding for the project if state government agencies failed to pay up their share of costs, Shukla said.
In fact, the Metro project is being jointly funded by the Centre, the Delhi Metro Rail Corporation (DMRC) and the UP government. While the Centre and DMRC have pledged Rs 730 crore for the project, the state government will be bearing a burden of Rs 1,478 crore. The state government funds will be made available by GDA, the UP Housing Board, the Ghaziabad Municipal Corporation and the UP State Industrial Development Corporation.
"There is no separate component in the state budget for the ongoing Ghaziabad Metro project, though a sum of Rs 700 crore has been reserved in it for the Lucknow Metro. Certain state government agencies have expressed their inabilities to bear their share of financial burden for the Metro project," he said.
"As of now, work on the project is progressing smoothly without any financial constraints whatsoever.However, an external funding or external loan might be necessary . " added Shukla.
Principal secretary (housing) and Ghaziabad Development Authority (GDA) chairman Sadakant Shukla on Monday said the UP government had not allocated any funds for the project in its budget and the state agencies that had promised to partly fund the Rs 2,208 crore project were now backing out.
However, modalities are being worked out for ensuring the ongoing Metro work is not affected due to paucity of funds and a decision is likely to be taken soon in Lucknow over external funding for the project if state government agencies failed to pay up their share of costs, Shukla said.
In fact, the Metro project is being jointly funded by the Centre, the Delhi Metro Rail Corporation (DMRC) and the UP government. While the Centre and DMRC have pledged Rs 730 crore for the project, the state government will be bearing a burden of Rs 1,478 crore. The state government funds will be made available by GDA, the UP Housing Board, the Ghaziabad Municipal Corporation and the UP State Industrial Development Corporation.
"There is no separate component in the state budget for the ongoing Ghaziabad Metro project, though a sum of Rs 700 crore has been reserved in it for the Lucknow Metro. Certain state government agencies have expressed their inabilities to bear their share of financial burden for the Metro project," he said.
"As of now, work on the project is progressing smoothly without any financial constraints whatsoever.However, an external funding or external loan might be necessary . " added Shukla.
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