Budget gives a Rs 3,120-crore push to Metro Phase III project
The Delhi Metro Rail Corporation (DMRC) on Thursday got an increased budgetary outlay of Rs 3,120 crore for 2013-14, for the construction of Metro Phase III in the capital.
The Union Budget outlay for the Delhi Metro for the 2012-13 was Rs 2,200 crore. The Phase III Metro — with seven corridors covering nearly 140 km of the city — will be the largest expansion project by the DMRC so far.
A major highlight of the Metro expansion is that it connects two arterial roads — the Ring Road and the Outer Ring Road. Phase III will also extend to the satellite cities of Faridabad and Bahadurgarh.
For the NCR expansion alone — to Faridabad and Bahadurgarh — the Delhi Metro has received Rs 120 crore.
“A dedicated amount for the Faridabad and Bahadurgarh Metro connectivity will expedite the construction of the line. The budgetary allocation will help in integration of far-flung pockets, which were so far not connected,” a senior DMRC official said.
In a move to further strengthen the financing arrangement of the Delhi Metro, the Finance Ministry has hiked the allocation of external funding through soft loans.
The DMRC gets a good share of its funds from Japan International Cooperation Agency (JICA). This assistance from JICA, in the form of soft loans, has been increased to Rs 1,750 crore. The assistance from JICA for the last fiscal was Rs 583
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