DMRC seeks Rs 62 billion in revised budget for 2024-25
RAILWAYS & METRO RAIL

DMRC seeks Rs 62 billion in revised budget for 2024-25

As the Delhi government begins revising budget estimates for the 2024-25 fiscal year, the Delhi Metro Rail Corporation (DMRC) has requested over Rs 62 billion to meet various capital and operational expenses.

In a letter to the Delhi transport department, DMRC stated that it requires Rs 28.72 billion to pay its share of a loan from the Japan International Cooperation Agency (JICA), which funded the metro’s expansion. Additionally, over Rs 20 billion is needed to cover exchange rate fluctuations, which must be addressed within this fiscal year. The agency also sought financial support for completing Phase 3 of the metro expansion and advancing the construction of Phase 4 corridors.

DMRC, a joint venture between the Delhi and central governments, currently operates a 393-kilometer metro network across the capital and the National Capital Region (NCR). Construction on 65 kilometers of three priority corridors is underway, with completion expected by 2026. The metro expansion, funded by government equity and soft loans from JICA, links key parts of Delhi with neighbouring cities like Gurgaon, Faridabad, Noida, Ghaziabad, and Bahadurgarh.

According to the Union Ministry of Housing and Urban Affairs (MoHUA), the revised completion cost for the Phase 3 expansion requires the Delhi government to contribute Rs 24.15 billion. In its budget revision request, DMRC asked for Rs 7.24 billion to be included in the current fiscal year's estimates.

The metro agency has also requested Rs 4 billion for capital expenditures to ensure smooth progress on Phase 4. In its original budget proposal for 2024-25, DMRC sought Rs 17.72 billion —Rs 9 billion for capital projects and Rs 8.22 billion to cover operational losses. However, the Delhi government allocated only Rs 5 billion, which has since been disbursed.

In a recent communication to the transport secretary, DMRC’s finance director emphasised the urgency of releasing Rs 48.72 billion to settle dues with JICA. "While the funds required for Phase 3 and 4 projects can be disbursed in installments as needed, the pending JICA loan amount and exchange rate adjustments must be paid to MoHUA in one go," the letter stated.

As the Delhi government begins revising budget estimates for the 2024-25 fiscal year, the Delhi Metro Rail Corporation (DMRC) has requested over Rs 62 billion to meet various capital and operational expenses. In a letter to the Delhi transport department, DMRC stated that it requires Rs 28.72 billion to pay its share of a loan from the Japan International Cooperation Agency (JICA), which funded the metro’s expansion. Additionally, over Rs 20 billion is needed to cover exchange rate fluctuations, which must be addressed within this fiscal year. The agency also sought financial support for completing Phase 3 of the metro expansion and advancing the construction of Phase 4 corridors. DMRC, a joint venture between the Delhi and central governments, currently operates a 393-kilometer metro network across the capital and the National Capital Region (NCR). Construction on 65 kilometers of three priority corridors is underway, with completion expected by 2026. The metro expansion, funded by government equity and soft loans from JICA, links key parts of Delhi with neighbouring cities like Gurgaon, Faridabad, Noida, Ghaziabad, and Bahadurgarh. According to the Union Ministry of Housing and Urban Affairs (MoHUA), the revised completion cost for the Phase 3 expansion requires the Delhi government to contribute Rs 24.15 billion. In its budget revision request, DMRC asked for Rs 7.24 billion to be included in the current fiscal year's estimates. The metro agency has also requested Rs 4 billion for capital expenditures to ensure smooth progress on Phase 4. In its original budget proposal for 2024-25, DMRC sought Rs 17.72 billion —Rs 9 billion for capital projects and Rs 8.22 billion to cover operational losses. However, the Delhi government allocated only Rs 5 billion, which has since been disbursed. In a recent communication to the transport secretary, DMRC’s finance director emphasised the urgency of releasing Rs 48.72 billion to settle dues with JICA. While the funds required for Phase 3 and 4 projects can be disbursed in installments as needed, the pending JICA loan amount and exchange rate adjustments must be paid to MoHUA in one go, the letter stated.

Next Story
Infrastructure Energy

Ore Transit Halt Causes Rs 20 Mn Daily Loss, says Mining Association

The Pakistan Bureau of Statistics (PBS) reported an extraordinary 850 per cent surge in gas prices over the past four months. The Goa Mineral Ore Exporters' Association (GMOEA) stated on Wednesday that continuous disruptions in transporting iron ore from Vedanta Sesa Goa's Bicholim mine block are causing daily losses of nearly Rs 20 million. According to GMOEA secretary Glenn Kalavampara, villagers' "unreasonable demands" are having detrimental financial and reputational effects.The GMOEA emphasized that the government bears responsibility for addressing these concerns, as it had auctione..

Next Story
Infrastructure Energy

Pakistan Hit by Staggering 850% Gas Price Hike Amid Soaring Inflation

The Pakistan Bureau of Statistics (PBS) reported an extraordinary 850% surge in gas prices over the past four months. During a session of the National Assembly chaired by Deputy Speaker Ghulam Mustafa Shah, detailed data on the rising costs of essential commodities were presented. The PBS highlighted that sugar prices had increased by 53.5 per cent, while palm oil prices rose by 61 per cent over the past five years. Additionally, soybean oil, wheat, and crude oil experienced a 35 per cent price hike during the same period. The PBS attributed the overall inflation to the rising c..

Next Story
Infrastructure Energy

Iranian Oil Minister Appointed as OPEC President

Iranian Oil Minister Mohsen Paknejad has been chosen as the rotating president of the Organization of the Petroleum Exporting Countries (OPEC) for 2025. OPEC announced the election of its upcoming president in a press release on its website and expressed gratitude to Marcel Abeke, Gabon's minister of petroleum, for his leadership as the organisation's president in 2024. This announcement was reported by Xinhua news agency, citing Iran's official news agency, IRNA. IRNA reported that Paknejad expressed his dedication to leveraging all his capabilities to ensure the organisation's cons..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000