Delhi/NCR: Govt releases Rs 200-cr to DMRC for Metro projects
A Government official revealed on Wednesday that a sum of Rs 200 crore has been released by the Government to the Delhi Metro Rail Corporation (DMRC) “as contribution to equity as a first installment in the current year of 2014-15.”
According to the information shared by the unidentified Government official, an amount Rs 3,561.60 crore has already been released to DMRC for Phase-III (underway) of DMRC, which is a 1995-established joint venture between the Government of India and the Government of Delhi State.
In addition, the Government has also released an amount of Rs 3,695.20 crore for Phase-II (2005-2011), and a sum of Rs 1,716.00 crore for Phase-I (1998-2006).
Furthermore, revealing that a total amount of Rs 100 crore has been sanctioned against reimbursement of DVAT, the official said that Rs 50 crore out of the sanctioned amount has been disbursed in the ongoing financial year.
With regard to the funding for the construction of Metro network in Delhi, the official said that – as per the budget estimates for the year 2014-15 – the Delhi Government proposes to release to DMRC the Equity amount of Rs 827 crore; along with an amount of Rs 26.51 crore in Subordinate debt for land, Rs 348 crore towards Reimbursement of Central Taxes; and Rs 100 crore towards Reimbursement of DVAT.
Source- The Pioneer
