Rajya Sabha Told DMRC Balances Affordable Fares with Massive JICA Loan

The Delhi Metro Rail Corporation (DMRC) continues to shoulder a substantial financial commitment, with its outstanding principal loan to the Japan International Cooperation Agency (JICA) standing at Rs 35,828 crore as of June 2026, according to information shared in the Rajya Sabha on Monday.

Replying to a written question, Union Minister of State for Housing and Urban Affairs Tokhan Sahu said the metro operator has already repaid nearly Rs 9,948.09 crore from its operational revenue, reflecting steady progress in servicing the long-term debt incurred for expanding Delhi's metro network.

The minister informed the House that the Central government and the Delhi government have continued to support the transit system through financial assistance over the past five years. During this period, the Centre released Rs 6,604.37 crore, while the Delhi government contributed Rs 6,155.44 crore in the form of equity, grants and subordinate debt.

Sahu said the outstanding principal amount relates to loans raised for implementing various phases of the Delhi Metro project, adding that the figures are based on the prevailing exchange rate. He also noted that the sanction orders for metro projects include well-defined provisions for loan repayment, ensuring a structured mechanism for debt servicing.

On the issue of passenger fares, the minister reiterated that fare fixation is governed by the provisions of the Metro Railways (Operation and Maintenance) Act, 2002. He emphasised that commuter affordability remains a key consideration whenever fares are determined.

To reduce dependence on ticket earnings, the DMRC has adopted multiple initiatives aimed at boosting non-fare box revenue, including commercial activities and other income-generating measures. These efforts, the government said, are intended to strengthen the corporation's finances while helping maintain an affordable fare structure for millions of daily commuters.

The latest disclosure underscores the scale of investment behind Delhi's expanding metro network and the continued focus on balancing infrastructure financing with affordable urban mobility and long-term fiscal sustainability.