No 50 per cent from Centre, Karnataka government spent 87 per cent on metro: CM Siddaramaiah
Speaking at the foundation stone laying for Bangalore Metro Phase 3 on Sunday, where he shared the stage with Prime Minister Narendra Modi, Union Railway Minister Ashwini Vaishnaw, Union Minister for Housing and Urban Affairs Manohar Lal Khattar, among others, the CM said, 'Works for Bengaluru Metro started in 2005 when Dr Manmohan Singh was the Prime Minister. As per the agreement, metro construction should have been taken up in a 50:50 fund ratio. However, the state's contribution in building the metro is high.'
While acknowledging that the Centre is providing financial and technical assistance to metro, Siddaramaiah said that much of it comes in the form of loans and equity, which states must repay with interest. 'The State Government has provided its share of Rs 25,387 crore for Metro Phase 1, 2, 2A, 2 B and 3. For loan repayment, Rs 3,987 crore have been provided,' Siddaramaiah said. He said that so far, Rs. 59,139 crore have been allocated for metro projects with the state's contribution at 87.37% and the Centre's share at 12.63%. Deputy Chief Minister DK Shivakumar also joined the CM and said the state had a major share in metro construction.
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