Delhi Metro gets budget of Rs 7,701 cr for Phase III construction
New Delhi- The Union Budget has allocated budget of Rs 7,701 crore to Delhi Metro in the Budget 2013-2014, for Phase-III metro construction in Delhi.
In 2012-2013 fiscal, Rs 4,511.89 crore (Plan and non-Plan combined) was allocated to the Delhi metro. Union Budget has increased the allocation by Rs 669.23 crore under the 2013-14 Budget.
The finance minister P Chidambaram has announced an additional Rs 120 crore grant to the Delhi Metro which was Rs 100 crore in the previous fiscal, under the Budget provisions under the object head grants for creation of capital assets. A spokesperson of Delhi Metro Rail Corporation (DMRC) said that the grant is meant for expansions in Faridabad and Bahadurgarh under the National Capital Region.
The amount combines both Plan and non-Plan allocations with the Central Government providing Budget support of Rs 3,000 crore while the rest is non-Plan allocations.
Of the funds allotted to the urban development ministry, finance minister P Chidambaram announced a major part to Delhi Metro project. The budget will be used for laying another 103 km of tracks in the national capital.
The Finance ministry said that the central government will consider Rs 650 crore as its equity in the Delhi Metro, while it will get a pass through assistance (PTA) of Rs 1,750 crore. Besides this, the government is planning to invest around Rs 5,181 crore in Delhi Metro which is over 34 percent from the revised estimate of Rs 3,848 crore, that was allocated in the 2012-2013 fiscal. While the equity is provided as a provision for investment, the PTA is given for externally aided projects.
Phase III project has already been initiated by DMRC. As per the plan, it will cover an additional 103 km of the capital. Presently, metro tracks have been extended over nearly 190 km in Delhi. The Phase III metro is expected to be completed by 2016.
Around two million passengers have been making use of metro service in Delhi each day. Delhi metro is making over 2,800 trips per day.
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