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The Federation of Indian Chambers of Commerce and Industry (FICCI) has proposed Finance Minister Sitharaman and the Centre certain suggestions for Union Budget 2019-20. For instance, they should allow a concession arrangement on design, build, finance, operate and transfer (DBFOT) basis in the Union Budget. Industrial bodies have suggested that the FM should focus on expenditure on infrastructure.
After coming to power in 2014, Prime Minister Narendra Modi has shown interest to create a network of Metro Rail Systems across India. FICCI demanded the central government to allow the benefit of the claim of depreciation in case of Metro Rail systems.
Metro rail systems through DBFOT
In new ‘Metro Rail Policy 2017’, the central government termed construction of new Metro Rail systems through DBFOTs is a huge model of Public Private Partnership (PPP). “DBFOT is a way forward for the PPP model in metro rail,” it stated.
Currently, metro rail is operational in Delhi, Mumbai, Noida, Gurgaon, Kochi, Kolkata, Chennai, Bengaluru, Hyderabad, Jaipur, Lucknow, Ahmedabad, and Nagpur. Cities like Navi Mumbai, Pune, Agra, Bhopal, Indore, Patna, Meerut, Guwahati, Chandigarh, Vijayawada and Surat will have metro networks in the near future.
Rope propelled urban transport
In addition, FICCI demands that the customs duty on rope propelled urban transport be brought down to 5 percent. In its pre-Budget memorandum, it had stated basic customs duty relevant for rope propelled transport solutions is 10 per cent. Moreover, basic customs duty applicable for rope propelled transport solutions for tourism rests at 5 per cent under rules penned down by the Department of Tourism.
FICCI has termed rope propelled urban transport as a solution to reduce traffic and pollution in urban areas. It says that reduction of basic customs duty to 5 percent in Budget 2019 will be helpful for all sectors. Also, rope propelled urban transport solutions have an application in several programmes of the government. For example: ‘Metro Policy 2017’, ‘Smart City Projects’, ‘Last Mile Connectivity’ etc.
The post FICCI suggests steps to boost metro rail and urban transport system appeared first on Urban Transport News.
This article first appeared on urbantransportnews.com
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