Budget 2018: High-speed rail gets major push

NEW DELHI: In a major boost to the Regional Rapid Transit System (RRTS) corridors that will connect Delhi with NCR towns, the Centre has allocated Rs 659 crore for Phase I of the project in the Union Budget. The budgetary allocation to the National Capital Region Transport Corporation (NCRTC), which is implementing the high-speed regional rail system for the first time in the country, is a massive hike compared to the previous budget in which just Rs.0.01 crore was allocated for the project.
The first phase of RRTS consists of three prioritized corridors — Delhi-Ghaziabad-Meerut (92.6 km); Delhi-Gurugram–Rewari-Alwar (180 km); and Delhi-Sonipat-Panipat (111 km). “The Delhi–Ghaziabad–Meerut corridor will be the first one to be executed and pre-construction work has already been initiated,” said an NCRTC spokesperson. “This high-speed rail will cover the distance between Meerut and New Delhi in less than 60 minutes.”
In contrast, Delhi Metro Rail Corporation (DMRC) has received a grant of Rs 50 crore for its expansion in NCR. Sources in DMRC said that the grant is meant for two corridors – Noida Sector 32 to Electronic City and Dilshad Garden to New Bus Adda (Ghaziabad). This is apart from the total fund allocated for all Metro projects in the country — Rs. 14,314.60 crore.
With Phase III of Delhi Metro nearing completion and Phase IV yet to be approved by the Delhi government and Centre, the quantum of funds to be disbursed to DMRC from the consolidated fund will depend on the Phase IV project being approved, a source said.
The sanctioned cost for Phase III is Rs. 44816.91 crore, including all taxes as well as extension to Haryana and Uttar Pradesh. Of this, JICA has funded 50.96% for projects in Delhi. The equity amount for the Centre and Delhi government is 10.55% each for projects within Delhi.
For Budget 2018-19, the total Metro allocation by the Centre consists of an equity investment of Rs 2,341 crore, subordinate debt amounting to Rs 1,550 crore and a pass through assistance of Rs 10,373 crore.