The transformation of Mumbai and its expanding metropolitan area will pay a huge price. A large-scale investment of 4 trillion rupees is required from the coffers of the state government and its institutions, because the total proposed cost far exceeds 5.01 billion rupees to make the city “prepared for the future”. In order to recover this expenditure, it is also proposed to establish a “unified transportation fund” for which Mumbai people may have to pay taxes.
Need investment At present, the population of MMR is equivalent to that of Australia, and in order to cater to such a large population; MMRDA has made a detailed breakdown of the possible costs that may occur in the next few years. “We will need to invest approximately Rs 4 trillion in various projects to prepare Mumbai and MMR for the future,” said SVR Srinivas, MMRDA Metropolitan Commissioner. On Thursday, there was also a panel discussion on CTS-2, which was composed of senior officials from state and central government agencies.
According to the source, some of the discussion points include resource mobilization, current income resources, and proposed sources of income for capital, operation and maintenance; timely implementation of the inadequacy of the transportation and transportation infrastructure planned in the MMR. According to the report, the total expenditure will reach 501 crore rupees. This includes spending Rs 22.1 crore on the subway network, Rs 95,608 crore on suburban trains, Rs 16,000 crore on dedicated bus lanes and buses, and Rs 11.4 crore on highway development.
Passenger water transport will be required. Rs 1,875 crore, Rs 3,550 crore. For the bus terminal, the railway terminal is 1,500 crore, the truck terminal is more than 2,000 crore, and the vehicle management system exceeds 45,200 crore. “The area and transportation need to be revitalized.
For example, BEST has approximately 3,500 buses, and its fleet needs at least 10,000 buses in order for people to leave private cars and turn to public transportation,” said Aaditya Thackeray, Minister of Tourism and Environment. Means of generating income MMRDA also proposes to levy a certain percentage of development costs and include it in stamp duty to recover from Mumbaikars of MMR.
The report pointed out that it is possible to generate revenues of Rs 3.67 to 41 crore through various means.
News Source : FREE PRESS
