Law to ease fund flow for Metro

In Budget speech, Jaitley said Metro rails are emerging as an important mode of urban transportation

The central government’s promise of a new legislative framework for Metro rail systems would help us, say companies in the sector. They’d clarity on operations, safety, regulation and construction.

Currently, various laws govern the sector, such the Indian Railways Act of 1989 and even the Indian Tramways Act of 1886. Industry is also hoping for a framework which would suggest innovative financial models for such projects, highly capital-intensive. They’d also like a single nodal agency to address issues on alignment, shifting of utilities’ lines and like items and on environment clearances.

“The main risk in execution is obtaining the right