Infrastructure

Govt clears Rs 86.8 bn for Maharashtra metro project

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The Union Cabinet has approved a new Rs. 86.8-billion (US$1.43 billion) Nagpur metro rail project in Maharashtra.

The decision comes in the wake of country’s poor infrastructure being blamed for causing a loss of as much as 2 percent in its Gross Domestic Product (GDP).

The green signal for the Nagpur project follows the Prime Minister Narendra Modi’s decision to allow 100 percent foreign investment in the railways as part of his plan to upgrade the nation’s infrastructure.

Modi-led NDA Government came to power with a promise of revamping the railways, roads and airport buildings.

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