Delhi Metro Rail Corporation
of Delhi Metro Rail Corporation
Delhi, the national captial with the population of about 12 million is, perhaps, the only city of its size in the world, which depends almost entirely on buses on it sole mode of mass transport.bus services are inadquate and heavily over-crowded. This sitution had led to proliferation of personilsed vehicles, so much so that Delhi has more registered vehicle than the total number of vehicles in Mumbai,Calcutta and Chennai put together. Nearly 70% of these are two wheelers. The result of extreme congestion on the road, ever slowing speeds, increasing accident rate, fule wastage and enviromental pollution . Delhi has now become the fourth most city in the world, with automobiles contributing more than two thirds of the total atmospheric pollution. Pollution related health peoblems aer reaching disconcerting levels.
To meet forecast transport demand for the year 2001, the number of buses will have to be atleast dobuled and personlised vehicles will grow three fold. This sure to lead to futher worsening of the levels of congesting and pollution, Which had already crossed acceptable limits in many part of the city.
Immediate steps are, therfore, needed to improve both the quality and availabilty of mass trasport service. This is possible only if a rail-based mass transit system, which is non-polluting, is introduced in the city without futher delay.
With a view to reducing
the problems of Delhi’s commuter, the launching of an Integrated Multi
Mode Mass Rapid Transport System for Delhi had long been under
consideration. The first concrete step in this direction was, however,
taken when a feasibility study for developing such a multi-modal MRTS
system was commissioned by GNCTD (with support from GOI) in 1989 and
completed by RITES in 1991. It is recommended a 198.5 km predominantly rail based network,
with first phase to cover a length of 55.3 km, report was completed by
RITES during 1995.
The Delhi MRTS is essentially a "social" sector project, whose benefits will pervade wide sections of economy. The modified first phase will generate substantial benefits to the economy by the way of:
Economic IRR of the project works out to 21.4%, even though the financial IRR is less than 3%
As urban MRT projects are mean to provide a safe, speedy and affordable mode of travel to the commuters, they have not generally been found to be financially viable in the most cities of the world, despite their large economic benefits. MRT fares cannot be fixed purely on the basis of commercial principles, without drastic decrease in ridership and defeating the very object of setting up such mass transit system. Hence, the city dwellers must necessarily supplement the contributions to be made by the system users to meet the costs of setting up. as well as running the system. Delhi being national capital and international city, the GOI and GNCTD must also contribute to meet part of these costs. It has accordingly been decided that the project will be financed by way of equity contributions from the GOI / GNCTD, soft loan from the OECF (Japan), property development revenue and certain decided levies / taxes on the city dwellers.
The loan will rapid partly from surpluses from the box revenue, partly through dedicated levies / taxes in the NCT.
The financial plan of the project has been approved by the GNCTD and GIO on 24.7.1996 and 17.9.19996 respectively.
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