MUTP-3: Niti Aayog seeks financial plan from Rlys

MUMBAI: The Niti Aayog, whose approval is necessary for the Mumbai Urban Transport Project (MUTP)-III to move forward, has sought a financial plan for the suburban railway system that caters to around 75 lakh commuters.
Railway minister Suresh Prabhu had said on November 9 that the project will come before the Cabinet for approval once Niti Aayog gives its nod.“Niti Aayog has sought the details of the funding and how the railway plans to run the suburban system, which is already reeling under heavy losses,” a senior railway officer said. Mumbai Railway Vikas Corporation (MRVC) has already started preparing a white paper to highlight the “true picture” of the financial burden the suburban rail system brings on the railway ministry due to non-revision of fares and subsidized season tickets. “Unless the Niti Aayog gives the approval, we cannot approach the World Bank to finalize the loan agreement,” an official said.
For MUTP I and II, the project funding had come from the World Bank. The repayment of these loans is being done by levying a surcharge on suburban commuters. For MUTP I and II, the surcharge is levied in accordance with the fare slab. For MUTP III, the Railways has proposed a surcharge of 25% on the fare.
The MUTP III project, planned at an outlay of Rs 10,000-crore, includes augmentation of the Airoli-Kalwa route, quadrupling of tracks between Virar-Dahanu and doubling of Panvel-Karjat-Khopoli route.