Noida Authority allocates Rs 1000 crore towards equity share to Noida Metro Rail Corporation

Meanwhile, giving a push to Metro connectivity, Noida has allocated Rs 1,000 crore towards its equity share to Noida Metro Rail Corporation in the budget. “We have also revised the funding pattern for our Metro corridors in keeping with the directions of the Union government. Grants due from the central government have been converted to equity share of Noida and Greater Noida. The Authorities will, however, be free to obtain loans from financial institutions subject to the public investment board (PIB) of the Union finance ministry,” Rama Raman Chairman said.