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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.

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