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New Delhi, The <keyword id="61705" type="COMPANY" weightage="20" keywordseo="Delhi-Metro-Rail-Corporation">Delhi Metro Rail Corporation</keyword> (<keyword id="45312" type="COMPANY" weightage="20" keywordseo="DMRC">DMRC</keyword>) has been facing a financial stress with the losses to the tune of ₹1,500 crore during the heydays of the pandemic induced lockdown. Metro operations were halted during lockdown for a period of roughly six months, which drastically affected revenue from passenger travel. At the same time, operating expenses including Operation and Maintenance (O&amp;M) costs had to be continuously paid for the upkeep of the metro network which spans 285 stations and a total track length of 389 km. Additionally, there had been a decline in the non-fare revenue garnered from advertisement as well as shop rentals for the months when metro operations had been suspended. The DMRC has around 400 retail outlets at its stations. Owners of these retail shops have expressed their inability to pay rent to the DMRC on account of no sales. Even now, when the metro services have been resumed, it has been done with sub optimal capacity on account of following strict social distancing norms. In addition, the Delhi Metro had taken a soft loan of ₹35,198 crore from <keyword id="6395487" type="COMPANY" weightage="20" keywordseo="japan-international-cooperation-agency">Japan International Cooperation Agency</keyword> (JICA) at a concessional rate of 1.2-2.3 per cent for 30 years. For the financial year 2020-21, DMRC is required to pay ₹1,242.8 crore of which ₹434.1 crore is the interest while ₹808.7 crore is the principal amount. However, till July 2020, DMRC had been able to pay only ₹79.2 crore as interest payment. In the wake of <keyword id="392283" type="PERSON" weightage="20" keywordseo="financial-distress">financial distress</keyword>, the DMRC has turned to seek financial assistance from the <keyword id="6357307" type="COMPANY" weightage="20" keywordseo="Central-Government">Central Government</keyword>, Delhi, Haryana and Uttar Pradesh governments. It is learnt that the DMRC has written to the Central and state governments requesting financial help. It is yet to be seen whether the Central and the state governments come to the rescue of the DMRC since they too are reeling under high fiscal deficit. This is for the first time that the Delhi Metro is facing operational losses. Since 2002, the DMRC has never faced an operational loss owing to efficiency in operations and world class service standards. To tide over its financial stress, the Delhi Metro is brainstorming innovative methods of revenue generation. The DMRC is following a two pronged strategy of curtailing expenditure wherever possible and deferment of non-essential expenditure. It has decided to reduce perks and allowances of its employees to about 50 per cent in the coming financial year and also requested the Centre to defer the payment of its loan instalment to JICA for the year 2020-21. A Parliamentary Committee report had suggested innovative methods of revenue realisation for the DMRC. The average non-fare revenue of Metro, across the world, comprising of revenue from advertisements, property leasing and consultancy is close to around 40-50 per cent of total traffic revenue. However, for the DMRC, non-fare revenue accounts for only 15 per cent, which is abysmally low. In order to tackle this challenge, the committee suggested leasing of existing assets i.e. track and rolling stock, leasing of commercial spaces at stations, advertisement fee, parking fee as well as revenue generation by levying a cess on residential property development of nearby areas which have seen enhancement in value owing to metro operations. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/analysts-explain-why-indigo-paints-shares-fell-with-a-thud-just-like-burger-king-and-mrs-bectors-and-what-to-do-with-it-now/articleshow/80704864.cms">Indigo Paints joins the league of Burger King and Bector's — frenzied IPOs that fizzled out</a> <a href="https://www.businessinsider.in/tech/news/the-india-stack-that-bill-gates-and-sundar-pichai-so-love-is-set-to-get-much-bigger-thanks-to-the-indian-governments-new-blockchain-strategy/articleshow/80718403.cms">The India stack that Bill Gates and Sundar Pichai so love is set to get much bigger – thanks to the Indian government’s new blockchain strategy</a>

Delhi Metro facing financial distress with losses of ₹1500 crore due to COVID-19 pandemic

<keyword id="6366797" type="CITY" weightage="100" keywordseo="Delhi-Metro">Delhi Metro</keyword> Rail Corporation (<keyword id="45312" type="ORGANIZATION" weightage="100" keywordseo="DMRC">DMRC</keyword>) board has approved a rise in its fares, which would make travelling in <a href="http://www.businessinsider.in/Delhi-Metro-is-going-to-build-Indias-greenest-metro-corridor-This-is-how-they-plan-to-do-it/articleshow/54807555.cms">Delhi metro</a> a tad bit costlier. Also read: <a href="http://www.businessinsider.in/10-things-you-didnt-know-about-Delhi-Metro/articleshow/48857764.cms">10 things you didn’t know about Delhi Metro</a> The new fare would be implemented from Wednesday onwards, with the minimum fare hiked to Rs 10 instead of the present Rs 8 and the maximum fare hiked to Rs 50. As per reports, DMRC would again hike the fares in October this year, taking the maximum fare to Rs 60. The <a href="http://www.businessinsider.in/topic/DMRC-fare-committee">Fare Fixation Committee</a> had submitted its report in last September, in which it had recommended a fare hike from October 1 last year and again from October this year. This one-year gap would have meant that people don’t have to suffer two hikes within a few months. "But the DMRC Board took more time to accept the committee's recommendation. So, the fare hike that was supported to kick in from last October will happen from Wednesday," said a source. Also read: <a href="http://www.businessinsider.in/delhi-metro-smart-cards-to-be-non-refundable-from-april-1/articleshow/57391857.cms">Delhi Metro smart cards to be non-refundable from April 1</a> It’s for the first time in eight years that DMRC has increased its fares. However, to please the customers, the Board has decided to have discounted fare for people taking <a href="http://www.businessinsider.in/Delhi-Metros-4thphase-to-cover-103-km-and-serve-6-corridors/articleshow/56389815.cms">Metro</a> on Sundays and national holidays. It has also decided to provide luggage cabin in metro coaches. The committee had also recommended an automatic annual hike in fares, but the board rejected this recommendation.

Delhi Metro to go a bit costlier from Wednesday

The <keyword id="6366797" type="CITY" weightage="20" keywordseo="Delhi-Metro">Delhi Metro</keyword>'s non-executive staff today threatened to bring train services to a halt from Monday if their demands, including a pay hike, were not met, according to <keyword id="6367495" type="COMPANY" weightage="20" keywordseo="PTI">PTI</keyword> news report.The non-executive staff, including train operators, maintenance staff, station controllers and customer relation assistants, have been protesting since yesterday against the management's alleged failure in implementing a two-year-old decision to upgrade their pay scales."We will gather at the <keyword id="6562135" type="COMPANY" weightage="20" keywordseo="Yamuna-Bank">Yamuna Bank</keyword> station on Sunday evening. Thereafter, from 0000 hours of July 24, the protesting staff of around 9,000 will enforce a total shutdown," secretary of staff council Anil Kumar <keyword id="52339" type="PERSON" weightage="20" keywordseo="Mahato">Mahato</keyword> said.Delhi Metro had in 2015 agreed, "in principle", to upgrade pay scale of maintainers from Rs 8,000-14,410 to Rs 10,170-Rs 18,700 from July of that year. It was also decided to merge the pay scales Rs 13,500-Rs 25,520 and Rs 14,000-Rs 26,950.A new pay scale of Rs 20,600-Rs 46,500 was to be introduced, according to the agreement, which was decided upon following a similar employee stir, Mahato said."Since the recommendations of the 3rd pay commission have been accepted by the government and orders are to be issued any time, it is not an opportune moment to press for their demand for revision of pay scales at this juncture. All pay related issues shall be dealt shortly after issue of orders by the government," the <keyword id="45312" type="ORGANIZATION" weightage="20" keywordseo="DMRC">DMRC</keyword> management responded.The other demands of the agitating staffers include the right to form an union, suspension of disciplinary proceedings against three staff members, including Mahato and a <keyword id="6354572" type="ORGANIZATION" weightage="20" keywordseo="CBI">CBI</keyword> probe into alleged financial irregularities in the organisation.Delhi Metro, in a statement, said that issues are purely incidental to the individuals and the attempt on their part to push their personal agenda, and invoke others to cause disruption is uncalled for."The employees have been misled by these individuals and an appeal has been issued for all employees to stay calm and we hope that employees are not misguided by such elements. Staff council members are also called for discussion on these issues," it added. Since yesterday, the protesting staff, wearing black bands, are gathering at metro stations across Delhi-NCR and sloganeering against the management in between their shifts. As of now, there has been no disruption in metro services.

Travelling by Delhi metro this Monday? You need to be cautious

The Mandi House-<keyword id="86953" type="ORGANIZATION" weightage="100" keywordseo="Central-Secretariat">Central Secretariat</keyword> metro line will become operational from Thursday (June 26), reducing travel time for the commuters on the Violet and Yellow lines and decongesting the <keyword id="6366601" type="PERSON" weightage="100" keywordseo="Rajiv-Chowk">Rajiv Chowk</keyword> station. It will also provide a one-point transfer to commuters going from Central Secretariat to Vaishali or Noida. 
 Urban Development Minister Venkaiah Naidu will flag off the first train from <keyword id="150647" type="ORGANIZATION" weightage="100" keywordseo="Mandi-House">Mandi House</keyword> station at 9.30 am on Thursday. The project has been completed three months behind the schedule. 
 
The 3 km long underground corridor will just have Janpath station in-between and is estimated to benefit about 70,000 commuters. Mandi House will now serve as the interchange point for three lines – Noida-Dwarka Sector 21, Central Secretariat-Badarpur and Jahangirpuri-Huda City Centre. 
 According to Delhi Metro Rail Corporation (<keyword id="45312" type="ORGANIZATION" weightage="100" keywordseo="DMRC">DMRC</keyword>), it will reduce 40% of the crowd at Rajiv Chowk, easing the load on the busiest station of the network. Earlier, commuters had to change trains from the congested Rajiv Chowk station. 
 
“The Central Secretariat-Mandi House section has received the mandatory safety clearance from the Commissioner of Metro Rail Safety and the line is expected to be opened for commercial services for the public this week itself,” said DMRC spokesperson, Anuj Dayal. 
The distance between Central Secretariat station, which is connected to the Badarpur-Central Secretariat (Violet line) and the Jahangirpuri-HUDA City Centre (Yellow line), and Rajiv Chowk is 4 km.

Mandi House-Central Secretariat Metro Service To Start Tomorrow

After 14 years of continuous service of carrying masses, <keyword id="6366797" type="CITY" weightage="20" keywordseo="Delhi-Metro">Delhi metro</keyword> has now become old. The number of passengers has increased 20 folds since the initial phase and right now it ferries 27 lakh people everyday. 
 
Ask anyone who commutes daily by metro and listen to their grievances. Right from trains running late to halting abnormally, these are a regular at Delhi Metro, the lifeline of the nation’s capital. While it has been expanded and covers most of the city now, with a few more routes being added next year, it will be India’s largest metro network. 
 To combat the ageing, the <keyword id="61705" type="CITY" weightage="20" keywordseo="Delhi-Metro-Rail-Corporation">Delhi Metro Rail Corporation</keyword> (DMRC) has planned to streamline the system. <keyword id="910405" type="PERSON" weightage="20" keywordseo="Sharat-Sharma">Sharat Sharma</keyword>, director (operations) told the <keyword id="6474066" type="COMPANY" weightage="20" keywordseo="economic-times">Economic Times</keyword>, “"Nine stations on Line 2 and Line 3 are being been remodelled for better passenger convenience. This includes shifting and relocation of stairs, tickcounters and exitentry gates to ease congestion." 
 The nine stations are namely HUDA City Centre, <keyword id="6366601" type="PERSON" weightage="20" keywordseo="Rajiv-Chowk">Rajiv Chowk</keyword>, New Delhi, Kirti Nagar, Guru Dronacharya, MG Road and <keyword id="208523" type="PERSON" weightage="20" keywordseo="Noida-Sector">Noida Sector</keyword> 15, Noida Sector 16 and <keyword id="209917" type="ORGANIZATION" weightage="20" keywordseo="Noida-City-Centre">Noida City Centre</keyword>, where frisking gates have been improved, more ticket vending machines have been assembled. 
 <keyword id="445" type="PERSON" weightage="20" keywordseo="Sharma">Sharma</keyword> further said that at Rajiv Chowk, the Viewers' Galleryhas been made accessible to commuters to enable easy passage to either platforms there. 
 
(Image: BCCL)

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Delhi Metro facing financial distress with losses of ₹1500 crore due to COVID-19 pandemic

IANS

Delhi Metro to go a bit costlier from Wednesday

BI India Bureau

Travelling by Delhi metro this Monday? You need to be cautious

BI India Bureau

Mandi House-Central Secretariat Metro Service To Start Tomorrow

BI India Bureau

Delhi metro network to get refurbished after 14 years

BI India Bureau

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