NITI Aayog has granted in-principle approval for the implementation of the Mumbai Urban Transport Project Phase III. The approval has been granted subject to the condition that Indian Railways will undertake “fare reform” involving automatic and regular revision of fares in tandem with the price index. The estimated cost of the project has escalated from Rs 114.4 billion to Rs 155.22 billion. The cost has been revised owing to the inclusion of the communications-based train control system or motorman’s cab signalling technology on the Harbour Line of the project. Phase III involves quadrupling of the Virar-Dahanu road under Western Railway, doubli.