As part of the Union Budget 2021-22, the Government of India has announced funding initiatives to raise the share of public transport in urban areas through an expansion of metro rail networks and the improvement of city bus services.
This includes an announcement of USD 2.42 billion (INR 180 billion) for a new scheme, to augment public bus transport through innovative public-private partnership (PPP) models to run more than 20,000 buses, while supporting the automobile sector, economic growth and create employment opportunities.
The Budget further commits to funding for metro rail infrastructure, including:
- INR 19.57 billion for 11.5 km of Kochi Metro Railway Phase-II
- INR 632.46 billion for 118.9 km of Chennai Metro Railway Phase-II
- INR 147.88 billion for 58.19 km of Bengaluru Metro Railway Project Phase 2A and 2B
- INR. 59.76 billion for the Nagpur Metro Rail Project Phase-II
- INR 20.92 billion for the Nashik Metro.