Jaipur, Aug 29 (Calcutta Tube) The Rajasthan government is set to introduce new taxes and other revenue measures to raise money for the Jaipur Metro, part of whose network will be operational in 2013, an official said here Saturday.
The work on the first phase of the Jaipur Metro Rail Project (JMRC), which is estimated to cost Rs.12.50 billion (Rs.1,250 crore), will begin next month.
Funds of nearly Rs.6 billion (Rs.600 crore) would be allocated by the Rajasthan government in the name of Jaipur Metro Fund.
‘The government has already taken a decision to raise the registration fee for vehicles and the road tax. It also plans to raise Rs.3 billion (Rs.300 crore) by imposing an entry tax on commercial vehicles,’ an official said.
‘The finance department is also going to hike the stamp duty on the sale of property from the present five percent to six percent,’ he added.
The economically weaker sections and low income groups will be exempted from this hike.
The first phase of the project, between Mansarovar and Chandpole, will be at a length of 9.2 km.
The proposed second phase of the project, between Ambawadi and Sitapura at a length of nearly 27 km, will be constructed at a cost of Rs.78.50 billion (Rs.7,850 crore) and is likely to be operational from 2014.
Out of the Rs.12.50 billion (1,250-crore) investments in the first phase, the Rajasthan government would make available Rs.6 billion (Rs.600 crore) over a period of three years.