Finance Minister Nirmala Sitharaman in her speech during the Budget 2021 announced Nashik Metro Neo project of Rs 5,000 crores. Apart from Nashik, the Metro Project for Nagpur was also proposed.

Finance Minister Nirmala Sitharaman said, “I propose around Rs 1,07,000 crore for capital expenditure of Indian Railways. The National Rail Plan for 2030 is also set up.”

She added, “Kochi Metro Railway phase to get part of Central funding along with Chennai, Bengaluru, Nagpur, Nashik for phase II.”

Maharashtra Metro Rail Co (MMRC) will work as theagency for the project. The state has allowed the project DPR before it was forwarded to MoHUA. There has been a venture in a few quarters over the chance of the project because of the outbreak of coronavirus that has impacted the entire economy.

Former Chief Minister of Maharashtra and current Opposition Leader Devendra Fadnavis reacted on the news took Twitter and wrote, “Congratulations Nashik! Congratulations Nagpur! We are happy that GoI appreciates our innovative approach & accepts model of #NashikMetro as a National Project. Not only this, but Nashik metro model will be implemented in other Indian cities too. #AatmanirbharBharatKaBudget.”

In another tweet he said, “In today’s #AatmanirbharBharatKaBudget GoI made a provision of ₹2092 crore for Nashik Metro. Thank you Hon PM @narendramodi ji , Hon FM @nsitharaman ji ! Nagpur Metro Phase-2 too got ₹5976 crore. Both these proposals were sent during our tenure of Maharashtra Government.”

After the Finance Minister declared improvement in Railway sector, rail stocks gone up. Finance Minister Nirmala Sitharaman increased spending of Rs 1,10,055 crore for the sector.