Thanking the opposition for allowing the bill to be passed unanimously, Reddy said: 'This bill is intended to usher in a Metro revolution.'
Similarly, the legislation would also help provide legal cover for Metro services in Chandigarh, Hyderabad, Kochi and Mumbai that are under various stages of consideration.
To many members who demanded that the Metro rail be introduced in other states also, Reddy said: 'The initiative should come from the states and the government is willing to organise 50 percent of the equity.'
He said some states had also adopted public-private partnership model and cited the instances of Mumbai and Hyderabad.
Speaking during the discussion on the bill, some members expressed concern over recent accidents at Metro construction sites, one of which claimed six lives in Delhi.
Reddy said the government was looking into it, but 'we are not doing very badly' on construction sites. 'We are way ahead than Singapore and just a little behind London,' he said.