PM announces financial assistance for Mumbai makeover schemes

Prime Minister Manmohan Singh today announced financial assistance for phase two of the Mitihi River Development Project and the first corridor of the metro railway between Varsova-Andheri and Ghatkopar.

The PM made the announcement at a function organised to hand over a cheque of Rs 400 crore for Mumbai's storm water drainage scheme, called Brimstowad.

Singh expressed his concern over the city coming to a grinding halt for at least four to five days every year during the monsoon. "This not only dents the city's image, but also affects the country's image, as Mumbai is India's premier city," he said, adding, "More importantly, it shakes the confidence of investors."

Improvement of the condition of Mithi River, which flows from the Virar Lake to Mahim creak, is one of the important measures to solve this problem and the central government is currently actively considering assisting the Mithi River Improvement Scheme, Phase II, he announced.

"The proposal to finance the Viability Gap Funding (VGF) for the metro's first corridor is also under active consideration of the central government," the PM said.