The Delhi Metro Rail Corporation (DMRC) has a revenue deficit totalling more than Rs 19,000 crore as the coronavirus pandemic halted its operations for months and affected its finances severely.
A note issued by AK Garg, Director (Operations), DRMC, on December 21, read: “In the last eight months, DMRC has earned only Rs 247.65 crore while expenditure was Rs 2,208.24 crore (approximately) including JICA (Japan International Cooperation Agency) loan and interest repayment due during this period.”
DMRC had to transfer Rs 1,910 crore from the project division to the operations and maintenance division. As a result, there is only Rs 260 crore left in the consultancy fund.
In view of the dismal state of finances, Delhi Metro officials (HODs of operation and maintenance division) were told to cut down expenses to the bare minimum required to run the trains, reported the Indian Express.Garg further pointed out that DMRC train operations were completely halted from 22.03.2020 to 06.09.2020. At the time there was “almost nil income from traffic earning as well as property business and parking revenues”. In fact, ridership continues to be low due to several restrictions that are still in place due to the pandemic and general fear in the minds of people. Besides, several offices and educational institutes are still shut due to the pandemic situation in the country.