Agra Metro Project
Agra Metro Project consists of two corridors with a total length of 29.4 km. It connects famous tourist attractions like Taj Mahal, Agra Fort, Sikandra etc., with railway stations and bus stands. Its construction work is to be inaugurated by Prime Minister Modi. The project is expected to benefit 29 lakh people in the city of Agra as well as more than 60 lakh tourists who visit the place each year.
About the Agra Metro Project
The project will help boost Ease of Living of the people of Agra and will benefit the tourists visiting the city. The estimated cost of the project is Rs 8,379.62 crores. The project is to be completed in five years. The feasibility study of the Agra Metro Project was conducted in 2016. The Detailed Progress Report of the project was prepared by RITES (Rail India Technical and Economic Service Limited).
The costs of the project was estimated as Rs 350 per kilo metre. The prices were estimated based on the Price Index.
Price Index in India
There are three major Price Indices used in India. They are Wholesale Price Index, Index of Industrial Production and Consumer Price Index
Wholesale Price Index
It is the main measure of inflation in the country. The important fiscal policy and monetary policy changes are linked to WPI. It is in use since 1939 and is published since 1947 regularly. The WPI is calculated by the Office of Economic Advisor operating under Department of Industrial Policy and Promotion of the Ministry of Commerce and Industry.
Index of Industrial Production
It measures the changes in the industrial production. It is calculated by the Central Statistics Office operating under the Ministry of Statistics and Programme Implementation. The eight major core industries such as crude oil, electricity, cement, refinery products, steel, fertilizers and natural gas are included in Index of Industrial Production.
Consumer Price Index
It measures changes in retail price goods and services. It is used as measure of inflation in more than 157 countries. It is calculated by Central Statistics Office.
Category: Economy & Banking Current Affairs