None
EN
CAG report flags Metro ridership and revenue shortfalls
['The Hans India', 'About The Author', 'New Delhi']
Andhra Pradesh Breaking News, Telangana News, Hyderabad News Updates, National News, Breaking News
Bengaluru: The Comptroller and Auditor General’s performance audit on the implementation of Phase 1 and Phase 2 of the Bangalore Metro Rail Project by Bangalore Metro Rail Corporation Limited has been tabled in Parliament.
The report records that passenger numbers on Bengaluru Metro trains have remained well below expectations and that revenue targets have not been met.
Between 2016-17 and 2022-23 the Corporation anticipated fare revenue of Rs.
Although 45.24 hectares were projected for Phase 1, 62.67 hectares were taken; for Phase 2 the estimate of 165.09 hectares resulted in the acquisition of 145.16 hectares.
Approximately 2.23 lakh square feet of Metro property stood vacant, representing a forgone lease income opportunity of Rs.