KOCHI: The proposed Kochi Metro Rail project got a major thrust with the Centre allotting `60 crore in its annual Budget for 2012-13 presented on Friday. Of the total fund allotted in the Budget, an amount of Rs 49 crore was allocated as the investment on public enterprises by the Ministry of Urban Development. As Kochi Metro Rail is proposed as an externally-aided project with the fund from Japanese International Cooperation Agency, Rs 10 crore was allotted as Pass Through Assistance (PTA) while the remaining Rs 1 crore is included as debt provision for the reimbursement of Central taxes.“We are extremely happy to learn about the Budget allocation for Kochi Metro rail project in the Union Budget. This is a great impetus to Kochi’s biggest dream today and it is definitely going to accelerate the evolution of the project in a significant manner,” Kochi Metro Rail Limited (KMRL) managing director Tom Jose said.
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