pm-modi-criticizes-metro-policy-questions-viability-amid-political-promises

Prime Minister Narendra Modi has raised concerns about election promises that jeopardize the financial stability of states. In a pointed interview with the India Today Group, he criticized political strategies that deplete state resources.

 

Addressing the issue, PM Modi said, "You build a metro in a city, and then to win elections, you promise free bus rides to women. This means you are taking away 50% of your metro passengers."

 

His comments appeared to target Telangana Chief Minister Revanth Reddy's free-bus-rides-for-women scheme, which has impacted the Hyderabad Metro, operated by L&T.

 

L&T's president, whole-time director, and CFO, R Shankar Raman, in an interview with BT TV, mentioned the company's plans to potentially sell off the Hyderabad Metro by 2026 due to declining ridership.

 

He attributed this decline to the state government's free bus ride scheme, which he claimed made metro ridership "less interesting."

 

Prime Minister Modi's remarks during the India Today interview sparked significant discussion on social media, with many applauding his stance on critical issues such as wealth creation and income inequality.

 

L&T holds a 90% stake in the Hyderabad Metro project, while the Telangana government owns the remaining 10%. The company has a 65-year concession to operate the metro system.

 

Raman expressed concerns about the sustainability of such political promises, stating that while private investment is essential for developing a modern, environmentally friendly transport system, funds are being diverted to support polluting bus services.

 

PM Modi emphasized the dual negative impact of such policies on state finances and the environment. "You have disrupted traffic and the environment too. You made bus rides free and drained the metro's finances. Now, how will the metro move forward? How will the country progress?" he questioned.

 

In response, Telangana Chief Minister Revanth Reddy stated that if L&T wishes to exit the Hyderabad Metro project due to the free bus ride scheme, they are free to do so.

 

Reddy affirmed his commitment to the Congress's promise of free bus rides for women and transgenders, indicating that the government would seek another operator if L&T chose to withdraw.

 

"There is nothing much to worry about," he reassured in an informal session with several publications.