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Title: Union Cabinet approves new metro rail policy
Source:Mint
Date:17 August 2017

The central government will approve and aid metro rail projects only if they have private participation and ensure last-mile connectivity for users, under a new policy cleared by the Union cabinet on 16 August 2017.Under the new metro rail policy, states will get powers to make rules and regulations and set up permanent fare fixation authorities. In line with global best practices, metro projects will be approved on the basis of ‘Economic Internal Rate of Return of 14%’, a change from the existing ‘Financial Internal Rate of Return of 8%’. “Private participation either for complete provision of metro rail or for some unbundled components (like automatic fare collection, operation and maintenance of services, etc) will form an essential requirement for all metro rail projects seeking central financial assistance,” says the policy.




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