Govt will adhere to Metro funding process

New Delhi, July 4: The Delhi government has decided to adhere to the existing funding mechanism of Metro projects for the upcoming Delhi Metro Phase IV, as stated by the Centre.

The move intends to expedite the 104 km-long Metro project that was approved by the AAP government in January.

Last month, Union urban development minister M. Venkaiah Naidu had written to chief minister Arvind Kejriwal asking him to adhere to 50-50 per cent equity sharing model.

The letter to Mr Kejriwal had come after the Delhi government had sought exemption from paying its share of the subordinate debt for Central taxes while clearing the ` 50,000 crore project.

“This is to inform you that the proposal sent by the Government of NCT of Delhi is not in conformity with the existing framework of funding pattern for Metro rail projects wherein Central taxes are shared equally by the central and state governments as subordinate debt,” Mr Naidu had said in the letter. Reacting to Mr Naidu’s letter, a Delhi government spokesperson said, “In principle, the government feels what share it gets from the Centre is very insufficient. But the CM has directed that despite this injustice being there, Metro projects should not be delayed at any cost. The government will pay its due share”.

The proposed corridors are Rithala to Narela, Inderlok to Indraprastha, Tughlakabad to Aerocity , Lajpat Nagar to Saket GBlock, Janakpuri (west) to R.K. Ashram and Mukundpur to Maujpur.