Union Cabinet on Wednesday cleared the new Metro Rail policy in a meeting in New Delhi. The new policy cleared will apply to all new metro projects in the country.
This is the first time that a separate Metro policy has been created in the country. Earlier, in 2007, the National Urban Transport Policy was created and the Metro was made a part of it.
The policy approved by the Cabinet will enable innovative finance such as land value capture, transit- oriented development for new Metro Rail projects.
The policy will help the Central government in standardising critical specifications of rolling stock and signalling systems of Metro Rail for promoting standardisation and indigenisation.
Besides the new metro policy, a National Policy on Transit Oriented Development (TOD) has been formulated and approved by the Union government.
But if a Metro project will not have enough revenue to be run by a private company, then the city will not include private players for the project.
At present, Metro projects with a total length of more than 350 km are operational in eight cities — Delhi, Bengaluru, Kolkata, Chennai, Kochi, Mumbai, Jaipur and Gurugram.
Metro projects are also under construction in Hyderabad, Nagpur, Ahmedabad, Pune and Lucknow.