DMRC: New policy to enable easier funding

New Delhi: With Union finance minister Arun Jaitley’s announcement that a new Metro rail policy will be introduced across the country, officials of the Delhi Metro said that the long-awaited policy was bound to enable easier financing and expansion of the network in the NCR region. The new policy is likely to focus more on innovative models for the Metro network by introducing standardised and indigenous hardware.

The Central government’s intent is to promote the Metro rail projects in the country is view of the Delhi Metro’s successful operation which has not only turned out to be an efficient and time-saving mode of travel in the NCR region but also worked out as an cost effective mode of public transport system.

Sources said that the new policy may also deal with the contentious issue of fare revisions at regular intervals so that the network does not bleed financially in the near future. Even a member of the Niti Ayog had recently written to the PMO to effect fare revision for financial stability of the Delhi Metro network.  

NITI Aayog vice-chairman Arvind Panagariya had written a letter to Nripendra Misra, principal secretary to Prime Minister Narendra Modi, that “at the current level, the fares are inadequate for the provision of high quality services and maintenance”. Mr Panagariya expressed reservation over the delay in implementing recommendations of a Centre-appointed “fare fixation committee”, which suggested an initial steep hike to make up for the seven years. Metro fares were last revised in 2009.

The Metro projects have been allocated Rs 17,810 crore this year, out of which Rs 150 crore has been given as a grant to the Delhi Metro in the Union Budget.