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Monetising the metro

Given that India needs around R40 lakh crore (at 2009-10 prices) over the next two decades to finance its urbanisation needs, it’s important to find innovative ways to get the money. So far, while building airports and metros, local governments have found it convenient to hand out huge dollops of land—250 acres for the Delhi airport and 960 acres for the Delhi metro—which can be used by developers to do commercial activity to cross-subsidise their costs. While that’s a good idea, there’s just so much land available to give out.

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