TED Baillieu has put his hands out to Canberra for $640 million to bankroll transport projects, much of it for planning work.
No money has been set aside to build the big-ticket projects, including the east-west road tunnel and a new underground railway.
And there is no firm timetable on when these projects would be undertaken.
The Premier has revived the controversial 18km road link from the Eastern Freeway to CityLink to the Western Ring Road.
Mr Baillieu said: "We've always said we don't have a problem with tolls."
But the Public Transport Users Association has criticised the Baillieu Government for prioritising the road link ahead of public transport upgrades.
President Daniel Bowen said it would only serve to further clog the roads with traffic.
"The last thing Melbourne needs is yet another multi-million dollar freeway through the suburbs," he said.
"Every major road that has been built in Melbourne and elsewhere has eventually just been filled up with traffic. You're effectively spending a lot of money just to get more traffic on the roads."
Mr Bowen said upgrading public transport around Melbourne's suburbs so that people could complete non-CBD point-to-point trips by public transport would make cross-city travel easier and remove the need for people to drive.
"They are following through on many of their promises on public transport which is good to see but what we haven't seen is a big picture public transport vision for Melbourne and Victoria and that's what lacking," he said.
The road, billed as an alternative to the West Gate Freeway, was suggested by infrastructure expert Sir Rod Eddington in 2008 but later shelved by the Brumby government.
Last week, Sir Rod said the private sector would be very interested in the project as a toll road.
The entire project, costing billions of dollars, could take up to 12 years to build.
Another of Sir Rod's multi-billion-dollar ideas, an underground railway from Footscray to Caulfield, will now go only to South Yarra.
Mr Baillieu's infrastructure blueprint has been submitted to the Federal Government's advisory body, Infrastructure Australia, which decides how Canberra splits up its cash.
Of the 13 projects listed in the submission, 10 are for planning and pre-construction works, worth $376 million.
The remainder of the money includes work on tram upgrades along High St, Northcote, freight network improvement and electronic freeway control on the Monash.
Mr Baillieu conceded there was not enough money to pay for the works.
"We recognise there's a funding hole," Mr Baillieu told the Herald Sun.
"This is about getting some planning money so we can bring projects ready to proceed when funding becomes available."
A heavy involvement of the private sector is likely, and this could include the imposition of tolls on the east-west road.
"I'm not in a position to say yay or nay to that. I wouldn't rule anything out at this stage," Mr Baillieu said.
The Government has adopted two Metro ideas, including nine-car trains on the Dandenong line and modern signalling on the Sandringham line.
Other ideas mooted by the Government in the submission include work on the new port at Hastings, level crossing removal and an Avalon train line.
If Canberra doesn't hand over the money, the Baillieu Government will be forced to find its own cash.
The projects will compete with those from other states for scarce federal dollars