The Delhi Government on Saturday released an amount of Rs 200 crore to Delhi Metro Rail Corporation (DMRC) for Phase-III of Mass Rapid Transit System (MRTS) projects. While the DMRC would ensure time-bound progress of the project, it would also furnish monthly physical and financial progress to the Transport Department.
The Metro Corporation will also submit audited utilisation certificate for previous years and furnish details of funds released by GNCTD and Government of India for MRTS Phase-III. The Administrative Department will specify the purpose on which expenditure may be incurred in precise terms for which equity is being granted. The expenditure will be incurred only for the
purpose for which equity has been sanctioned and for the targets, which have been assigned to DMRC. The DMRC will also exercise due prudence and frugality while incurring expenditure out of equity share and no wasteful expenditure whatsoever shall be incurred in any manner. The Transport Department will carry out periodical appraisal of the performance of DMRC for ascertaining as to whether the targets assigned to DMRC are being achieved.