India Receives Rs 5,536 Crore Loan For Metro Rail Projects From Japan
November 29th, 2015
In what could be a real boon to solve the urgent traffic and commuting problems in Indian cities, Japan has pledged Rs 1,080 crore for the Chennai Metro Rail Project (IV phase) and Rs 4,456 crore for Ahmedabad Metro Project.
The money is expected to bolster the development of metro rail system in both the cities, fast emerging as cities of great economic and strategic importance.
The PTI reported that “India and Japan have had mutually beneficial economic development cooperation since 1958. In the last few years, the economic cooperation between India and Japan has strengthened and grown into strategic partnership. With general political consensus and popular support for the greater cooperation between India and Japan, the partnership is poised for a great future, said the release.”
The Logical Indian’s Opinion – The development of better public transport in both cities will not only make commuting easy, but the overall development will create more jobs and bolster the local economies as well. The cities of New Delhi, Mumbai and Bengaluru have been struggling due to indiscriminate expansion in terms of population and industries.
All three cities receive massive influx of workers from other cities looking for jobs. It is of great importance that infrastructure development in other major cities happens fast so that these three cities do not crumble under the pressure. This news comes as a sign of better things to come.
However, there is also need to be cautious. Bengaluru Metro has seen delays and the city is still awaiting a seamless metro system. We hope that the development of Ahmedabad and Chennai metro railway system will follow the Delhi Metro’s path of success and give the citizens a better mode of public transport.