Urging the Centre to join hands with the State government to develop Bengaluru, Chief Minister Siddaramaiah on Sunday said that the State was meeting as much as 87.37% for the Namma Metro projects.
“The Centre is giving just about 12.63% of the project cost, while the State government is meeting 87.37%. So far, the Centre has provided only ₹7,468.86 crore of the total ₹59,139 crore spent on the project,” the Chief Minister said, while also acknowledging the Centre’s assistance in the project.
“The Centre is extending technical and financial assistance to the project. However, the State has spent ₹25,387 crores to implement Namma Metro Phase 1, 2, 2A, 2B, and 3. The State government has also provided ₹3,987 crore for loan repayment. Though there is an agreement between the Centre and State governments on 50:50 investment in Namma Metro, the State government has to repay the loan along with interest. The Centre has only equity. I would like to remind the Prime Minister that because of this, the State government’s investment has been 87.37%.” he said.
“I urge the Centre to provide more funds for development of Bengaluru in the interest of national development. I hope that in providing better services to public, the cooperation between the Centre and the State will further strengthen the federal set-up.”
