The outstanding principal loan payable by the Delhi Metro Rail Corporation to the Japan International Cooperation Agency (JICA) stood at Rs 358.28 billion (bn) in June, the Rajya Sabha was informed. The DMRC has repaid nearly Rs 99.48 bn from its operational revenue since project inception, the reply said. The information was provided in a written reply by the Union Minister of State for Housing and Urban Affairs Tokhan Sahu. The figures were presented at prevailing exchange rates and reflect obligations across various phases of the metro programme.

In the last five years, cumulative amounts comprising equity, grants and subordinate debt released by the Centre and the Delhi government were Rs 66.04 bn and Rs 61.55 bn respectively, the minister noted. He said the sanction orders for DMRC projects contain provisions setting out the loan repayment structure. Such structured repayment arrangements are designed to align debt servicing with project cash flows and long term asset operation. The response highlighted that financial support from governments complements loan funding for urban rail development.

Sahu indicated that fare fixation is carried out in accordance with provisions of the Metro Railways (Operation and Maintenance) Act 2002 and that affordability for commuters is taken into consideration. The DMRC has informed the ministry that it has adopted various measures to increase non?fare box revenue to ensure an affordable fare structure. Those measures are intended to diversify income streams and reduce sole dependence on passenger fares. The ministry framed these steps as part of wider efforts to maintain an equitable and sustainable service model.

The repayment levels and government contributions underline the scale of long term financing required for metropolitan rail infrastructure and the continued role of multilateral lenders in such projects. Repayments from operational revenue offset some budgetary demand but sizeable outstanding liabilities remain. Officials presented the data as indicative of the fiscal and operational challenges that accompany extensive network expansion. Continued monitoring of revenue trends and cost management was described as important for maintaining service affordability.