`Delhi Govt will not be able to fund Metro`s third phase`
New Delhi: Delhi Government will not be able
to allocate required funds for the third phase of the metro
network due to financial crisis.
Delhi Finance Minister A K Walia said Government was
facing severe shortage of funds due to huge spending on
projects linked to the Commonwealth Games and so it will not
be able to contribute its share for the third phase of metro.
Walia said Delhi Development Authority (DDA), which earns
lot of money by selling lands in the capital, should be asked
to contribute Delhi Government`s quota of financial
The Minister even said that the Government would not be
able to make the remaining quota of payments for the second
phase of the Metro network and that DDA should also fund the
"The DDA should also fund the metro projects. They earn
lot of money by selling land in the capital. They should
contribute their financial resources for development of
transport network in the city," Walia told PTI.
Walia said the city Government was asked to pay Rs 1,265
crore after Japan Bank of International Cooperation (JBIC)
said it would not be able to provide more than 30 per cent of
the project cost for the third phase.
"It will not be possible for us to cough up this amount.
The DDA must come forward," Walia said.
Delhi government had sanctioned Rs three crore for the
preparation of detailed project report (DPR) of the third
phase of the metro network.
The DMRC plans to start the construction work on
Phase-III by the end of 2010.
In Phase-III, the DMRC envisages connecting Jahangirpur
with Sarai Kale Khan ISBT, Dilshad Garden with Ghaziabad ISBT,
Airport link-Sushant Lok (Gurgaon), Mundka-Delhi
border-Bahadurgarh, Badarpur-YMCA chowk and Gurgaon.
"We want DDA to pay the remaining amount of payment on
our behalf to the DMRC as we are facing lot of financial
difficulties," Walia added.
The Union Urban Development Ministry had told Delhi that
the Centre will contribute half of the total project cost
while Delhi government will have to cough up the other half.
More from India
More from World
More from Sports
More from Entertaiment
- CBI confirms Delhi health minister Satyendra Jain's indulgence in Hawala business
- Should army take strict action against stone pelters of J&K?
- Etawah: UP cops caught drunk while on duty
- Triple Talaq: Why AIMPLB are opposing the petitions filed in Supreme Court?
- DNA: Reason behind electricity crisis in India despite being power surplus nation
- The Kapil Sharma Show: No Sunday episode this weekend? Here’s why
- Kapil Sharma–Sunil Grover fallout: Kiku Sharda finally breaks silence
- Chinese national insults Indian flag, throws it in dustbin outside Noida Oppo office; massive protest takes place
- India vs Australia: Virat Kohli takes reconciliatory path, says his friendship comment was 'blown out of proportion'
- Sunil Grover joining AIB? Here’s the truth