A new Metro Rail Policy will be announced with focus on innovative models of implementation and financing, as well as standardisation and indigenisation of hardware and software. Finance Minister Arun Jaitley on Wednesday announced that a new Metro Rail Policy is being finalised to focus on Metro rail projects. "A new Metro Rail Act will be enacted by rationalising the existing laws. This will facilitate greater private participation and investment in construction and operation," he said.
According to Budget proposals, at least 25 railway stations of metro would be awarded best station in the year 2017-18.
The new Metro Rail Policy will be applicable to all metro projects across the country including Delhi Metro Rail Corporation, Bangalore Metro Rail Corporation, Chennai Metro Rail limited, Kolkata Metro Rail Corporation, Mumbai Metro, Jaipur Metro, Kochi Metro, Vizag Metro, Vijayawada Metro, Ahemdabad Metro, lucknow Metro, Nagpur Metro and Pune Metro.
A total of Rs 11,989.33 crore has been allotted to all metro projects including Rs 7606.90 for Delhi Metro Rail Corporation for the year 2017-18. This includes Grants to Delhi Metro Rail Corporation, equity investment, loan and Pass-Through Assistance to Delhi Metro Rail Corporation, Bangalore Metro Rail Corporation, Chennai Metro Rail limited, Kolkata Metro Rail Corporation, Mumbai Metro, Jaipur Metro, Kochi Metro, Vizag Metro, Vijayawada Metro, Ahemdabad Metro, lucknow Metro, Nagpur Metro, Pune Metro as well as other Metro Rail projects.