- News>
Delhi govt announces tax relief of Rs 460 cr to Metro Rail
New Delhi, June 04: Delhi government today announced tax exemptions worth Rs 460 crore to Delhi Metro Rail Corporation (DMRC) even as it took a dig at the Centre for not releasing the entire amount earmarked for it for the joint ambitious project.
New Delhi, June 04: Delhi government today announced tax exemptions worth Rs 460 crore to Delhi Metro Rail Corporation (DMRC) even as it took a dig at the Centre for not releasing the entire amount earmarked for it for the joint ambitious project.
The city government also announced waiver of one per cent cess of the total project cost of phase-ii of the project worth Rs 70 crore payable by DMRC to the department of industries and decided to grant an interest-free loan of Rs 20 crore to dmrc for setting up an it park or software export zone, an official spokesman said.
Chief Minister Sheila Dikshit, who chaired a high-level meeting here today, approved exemption of sales tax worth Rs 140 crore and work contract tax amounting to Rs 250 crore to DMRC, he said.
The meeting, also attended by Transport Minister Ajay Maken, city government and DMRC officials, was told that the Centre had paid only 40 per cent of the amount, 10 per cent less than that earmarked for the detailed project report (DPR) for Phase-II of Metro, the spokesman said.
Delhi government, being a half partner in the project, decided to release its share of 50 per cent with immediate effect, he said.
Dikshit also told the DMRC to take up the matter of land acquisition with the Central government and Lt Governor Vijai Kapoor in view of delay on this front.
Bureau Report