The Delhi Metro Rail Corporation (DMRC) on Thursday was allocated Rs 3,470 crore in the Union Budget to fund construction of its Phase-III network, scheduled to be completed by March 2016, and proposed lines in the NCR.
Of the total fund allocated, DMRC got Rs 838 crore as equity for Phase-III, an increase over last year’s Rs 650 crore. The corporation also got Rs 1,723 crore as Pass Through Assistance (PTA), a dip over last year’s Rs 1,750 crore.
The grant for Metro expansion in Faridabad and Bahadurgarh is Rs 145 crore. In 2013-14, the grant received by DMRC was Rs 120 crore.
DMRC officials said the organisation has also got Rs 763 crore as subordinate debt for Phase-III for land acquisition and central taxes.
In the last Budget, DMRC had received Rs 2,576 crore for its various projects in Delhi and NCR.
“The funds provided in the Budget are adequate for the ongoing works of DMRC. As the projects progress during the year, DMRC might approach the government for more funds in the form of revised estimates and supplimentaries as required from time to time,” DMRC spokesperson Anuj Dayal said.
At present, DMRC runs six lines connecting various parts of the city.
Under Phase-III, two new lines — on Outer Ring Road and Inner Ring Road — are expected to come up by 2016. Meanwhile, expansion is also under progress on five existing lines.
In his Budget speech on Thursday, Union Finance Minister Arun Jaitley said urban Metro projects have proven to be “very useful” in decongesting large cities. “For two-million-plus cities, planning of Metro projects must begin now. The government will encourage development of Metro rail systems, including light rail systems, in the public-private partnership (PPP) mode, which will be supported by the Central government through VGF,” Jaitley said.