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The outstanding principal loan payable by Delhi Metro Rail Corporation (DMRC) to the Japan International Cooperation Agency (JICA) stood at INR 35,828 crore till June 2026, according to information shared in Parliament. The Centre said DMRC has repaid nearly INR 9,948.09 crore from its operational revenue while continuing to maintain an affordable fare structure. Over the past five years, both the Central and Delhi governments have also provided financial support through equity, grants and subordinate debt. The government added that metro fare revisions continue to follow the provisions of the Metro Railways Act.
The Delhi Metro Rail Corporation's (DMRC) outstanding principal loan payable to the Japan International Cooperation Agency (JICA) stood at INR 35,828 crore till June 2026, the Centre informed Parliament earlier this week. The loan relates to the implementation of various phases of the Delhi Metro project, which has largely been financed through long-term soft loans from JICA.
Replying to a question in the Rajya Sabha, Union Minister of State for Housing and Urban Affairs Tokhan Sahu said the outstanding principal amount was calculated at the prevailing exchange rate. He added that the sanction orders for DMRC's metro projects include suitable provisions for the repayment of these loans.
The minister also informed Parliament that DMRC has repaid nearly INR 9,948.09 crore of the JICA loan from its operational revenue, reflecting the metro operator's continued repayment of debt through its earnings.
The government further said that during the past five years, the Centre released a cumulative INR 6,604.379 crore towards equity, grants and subordinate debt for DMRC projects. During the same period, the Delhi government released INR 6,155.443 crore under the same heads, highlighting continued financial support from both governments for the capital-intensive metro network.
On the issue of metro fares, Sahu said fare fixation is carried out in accordance with the provisions of the Metro Railways (Operation and Maintenance) Act, 2002. He added that commuter affordability remains an important consideration while determining fares.
The minister further said DMRC has adopted several measures to strengthen its non-fare box revenue so that ticket prices can remain affordable. These revenue sources include income from property development, station retail spaces, advertising, parking, telecom infrastructure and other commercial activities, which help reduce dependence on passenger fares.
JICA has been one of the largest financial partners for the Delhi Metro since the project's first phase, providing low-interest, long-tenure loans that have supported the expansion of the network across multiple phases. The Delhi Metro is widely regarded as one of India's most successful urban mass transit systems and has become a model for metro rail projects in several other cities.
Source PTI
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