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bangalore metro phase 2 approved =>news
Re: bangalore metro phase 2 approved =>news
This is approved with the following comments for central Govt.
1.Bangalore: Metro commuters may have to cough up higher fare on select routes, thanks to a condition set by the Public Investment Board while clearing Namma Metro Phase II.
Approving the 72-km Namma Metro Phase II, the Board came up with the rider that the Bangalore Metro Rail Corporation (BMRC) should confirm the Financial Internal Rate of Return (FIRR) will be 6 to 6.5% in respect of the two new arterial lines proposed under the project: the RV Road-Bommasandra and Gottigere-IIMB-Nagawara lines.
A senior BMRC official disclosed that in order to confirm the higher FIRR, they might have to go for differential tariff where commuters could be charged more for travelling between more preferred destinations.
“For example, along the RV Road-Bommasandra line, if the Electronic City station is considered the most preferred, the BMRC could fix a higher fare for those getting down or boarding the station compared to other destinations,” he explained.
Another BMRC official said among the 16 stations on the RV Road-Bommasandra stretch, HSR Layout, Electronic City and Bommasandra are the prominent ones. “As far as the 18 stations on the Gottigere-IIMB-Nagawara
stretch are concerned, IIMB, JP Nagar, MG Road, Shivajinagar and Cantonment railway station will be the prominent ones,” he added.
The PIB approval comes with another rider that the Union Ministry of Urban Development has to confirm the availability of funds to meet government of India’s commitment in the Twelfth Plan for the Phase II project.
1.Bangalore: Metro commuters may have to cough up higher fare on select routes, thanks to a condition set by the Public Investment Board while clearing Namma Metro Phase II.
Approving the 72-km Namma Metro Phase II, the Board came up with the rider that the Bangalore Metro Rail Corporation (BMRC) should confirm the Financial Internal Rate of Return (FIRR) will be 6 to 6.5% in respect of the two new arterial lines proposed under the project: the RV Road-Bommasandra and Gottigere-IIMB-Nagawara lines.
A senior BMRC official disclosed that in order to confirm the higher FIRR, they might have to go for differential tariff where commuters could be charged more for travelling between more preferred destinations.
“For example, along the RV Road-Bommasandra line, if the Electronic City station is considered the most preferred, the BMRC could fix a higher fare for those getting down or boarding the station compared to other destinations,” he explained.
Another BMRC official said among the 16 stations on the RV Road-Bommasandra stretch, HSR Layout, Electronic City and Bommasandra are the prominent ones. “As far as the 18 stations on the Gottigere-IIMB-Nagawara
stretch are concerned, IIMB, JP Nagar, MG Road, Shivajinagar and Cantonment railway station will be the prominent ones,” he added.
The PIB approval comes with another rider that the Union Ministry of Urban Development has to confirm the availability of funds to meet government of India’s commitment in the Twelfth Plan for the Phase II project.