New Delhi: The central government and the government of the National Capital Territory of Delhi will share land cost by 50% each for the fourth phase of metro rail construction comprising three corridors, the union cabinet approved Wednesday.
This is in pursuance of the amendments to Metro Rail Policy, 2017 applicable only for Delhi in compliance to the Supreme Court order dated 6 September, a cabinet statement said. The three like of Delhi Metro Phase-IV projects are Aerocity to Tughlakabad, R.K Ashram to Janakpuri (West) and Mukundpur – Maujpur.
“The total cost of the project which is Rs. 24,948.65 crore remains unchanged. The contribution from GoI increases from the existing ₹4,154.20 crore to ₹4,643.638 crore results in a net increase of ₹489.438 crore. The amount of external loan from bilateral/multilateral agencies which DMRC (Delhi Metro Rail Corporation has to repay increases from the existing ₹11,462.60 crore to ₹12,930.91 crore with a net increase of ₹1,468.314 crore,” a cabinet statement said.
In other decisions, the Union Cabinet approved signing the Memorandum of Cooperation (MoC) between Government of India and Government of Japan to constitute the ‘India-Japan Steel Dialogue’ to strengthen cooperation in steel sector. The government said that the ‘India-Japan Steel Dialogue’ envisages enhancement of mutual understanding to secure sustainable growth in the steel sector. “The Dialogue aims to examine all aspects of cooperation in steel sector including promotion of investment in high grade steel making and finding new avenues of steel usage in India. The MoC will help in capacity building for high grade steel manufacturing in India,” the government said in a statement.
The cabinet also approved signing of MoU between Central Electricity Authority, India and Japan Coal Energy Centre, on Japan-India cooperation for Efficiency and Environmental Improvement for Sustainable, Stable and Low-Carbon supply of Electricity. The arrangement, the government said, will provide an enabling framework to address issues and barriers in expediting sustainable, stable and low carbon thermal power development by means of studies, training program and knowledge-sharing activities, outcomes of which are to be conducive to overall power development in India as well as to expedite relevant policy implementation by the Government of India. similarly, the cabinet approved the signing of MoU between Central Electricity Authority, India and Japan Coal Energy Centre, on Japan-India cooperation for Efficiency and Environmental Improvement for Sustainable, Stable and Low-Carbon supply of Electricity.
In yet another decision, the cabinet approved signing the Agreement on Social Security between the India and Brazil. In order to facilitate better understanding of the regulatory aspects between the Central Drugs Standard Control Organization (CDSCO) and Saudi Food and Drug Authority, and help in increasing India’s export of medical products to Saudi Arabia.
The Cabinet Committee on Economic Affairs also approved the extension of timeline up to 31 March 2022, and revision and re-appropriation of approved components of Prime Minister’s Development Package for development of Horticulture in the UTs of Jammu and Kashmir, and Ladakh.