More good news is in store for the Delhi Metro. If the environmental and social benefits are measures in terms of the economic rate of return,the Delhi Metro Rail Corporation (DMRC) will recover the full cost of construction of Phase-I by December 2011,states a recent study conducted by the Central Road Research Institute (CRRI).
An earlier study in 2007 by the institute had anticipated that the DMRC would break even by 2013. The recent study conducted earlier this year,however,anticipates this in another two years. The study has also found that due to a large number of private vehicles going off the road due to Metro ridership,there has been a marked reduction in the number of accidents and emission of greenhouse gases.
The time period of breaking even has decreased mainly because of the increasing ridership,which was 5 lakh per day in 2007 and has gone up to 8.5 lakh this year,when CRRI conducted a fresh study. The Economic Rate of Return also went up from 16.90 per cent to 19.98 per cent in these two years because of the increase in footfall, Anuj Dayal,DMRC spokesperson,said.
The study states that if the social and economic benefits of the Metro are quantified,the value of accrued benefits of Phase-I will be Rs 10,801.64 crore by the end of March 2012. The cost of construction for Phase-I was Rs 10,571 crore.
These benefits are a result of the saved passenger time,fuel cost,reduction in capital and operating cost of vehicles,reduction in environmental damage,fewer accidents and lesser infrastructure maintenance cost, the study stated.
The study also found that a majority of vehicle owners who have the option of using the Metro have already shifted to the public rapid transit mode.
In 2009,the Metro will take on the daily share of 57,953 vehicles spanning all other modes of travel,such as cars,buses,two-wheelers,autorickshaws among others.
The number of two-wheeler users who have shifted to the Metro has shot up from 32.81 per cent in 2007 to 66.3 per cent this. The number of car owners who have shifted to the Metro has increased from 52.35 per cent to 62.29 per cent in these two years.
One-fourth of all Metro commuters (24.8 per cent) are two-wheeler owners; almost one-fifth (18.11 per cent) are car owners.
* In 2009,Metro to take up share of 57,953 vehicles
* Value of accrued benefits of Phase I by March 2012 Rs 10,801.64 crore
* Two-wheeler users who have shifted to Metro in 2009 66.3 %
* Number of car owners who have shifted to Metro in 2009 62.29 %