`450 cr allocated for suburban rail project

Bengaluru: The much awaited Bengaluru Suburban Railway Project (BSRP) received a considerable allocation in the Union Budget 2023, which was announced by Financial Minister Nirmala Sitharaman.

The Bengaluru Suburban Rail Project has been approved for a total capital investment of Rs 1,350 crore for the years 2023 to 20244, of which 900 crores will come from internal and extra budgetary resources (IEBR). This is in contrast to the project's budgetary allocation of Rs 450 crore.

In order to construct a fin-tech city in a town on the outskirts of Bengaluru, to be built as a satellite town, on the model of Gujarat's GIFT city, the State government had requested support from the Union Budget. The Budget that was presented, however, made no mention of the provision.

The State government has asked for funding from the Union Budget to construct a fin-tech city on the outskirts of Bengaluru, to be built as a satellite town, on the same model as Gujarat's GIFT city.

Since Prime Minister Narendra Modi assured Bengalureans that his government would finish the project in 40 months when he placed the project's foundation stone last year, the BSRP has been a top priority for both the State and the Union governments.

When the suburban rail project building was sanctioned, it was estimated that a network of 148 km in the city on four routes would cost 15,767 crores. 40 per cent of each government is owned outright, with the remaining 60 per cent coming from foreign borrowing. After overcoming a variety of challenges, the KRIDE decided to construct the 25 km corridor between Baiyappanahalli to Chikkabanavara. 14 stations have been suggested along this 25 km long corridor.