Delhi

Nod for revision in metro phase IV funding

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Now, Centre and Delhi government to share cost of land in 50:50 ratio

The Union Cabinet on Wednesday approved the revision in the funding pattern of Delhi Metro Phase-IV which will lead to the Delhi government and the Centre sharing the land cost in a 50:50 ratio.

The approval pertains to the three priority corridors which got the Centre’s nod earlier this year including the Aerocity-Tughlakabad, R.K. Ashram-Janakpuri West and Mulundpur-Maujpur corridors.

The decision was taken at a Cabinet meeting chaired by Prime Minister Narendra Modi.

Currently, the Centre and the Delhi government share the cost of Delhi Metro projects on a 50:50 ratio and with Wednesday’s approval, the land cost will also be shared in a similar ratio.

A statement issued by the government said that the move was in compliance with a September 6 Supreme Court order and in pursuance of the amendments to the Metro Rail Policy 2017, applicable only for Delhi.

“The total cost of the project which is ₹24,948.65 crore remains unchanged. The contribution from GOI increases from the existing ₹4154.20 crore to ₹4643.63 crore resulting in a net increase of ₹489.43 crore,” the statement read.

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Printable version | Jan 25, 2020 11:43:57 PM | https://www.thehindu.com/news/cities/Delhi/nod-for-revision-in-metro-phase-iv-funding/article30281161.ece

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