The Planning Commission is understood to be in favour of the Delhi Development Authority (DDA) pooling in funds for the third phase of Delhi Metro, a view long held by the city government. The commission is also said to be of the view that the Centre and city governments, who jointly own the DMRC, should increase their share in the third phase funding. The final modalities are, however, yet to be worked out.
The city government has been maintaining that since the DDA is the biggest land-owning agency in the city and has huge cash reserves, it should pool in funds for the project. The government has been saying that it does not have adequate funds for the project, which envisages covering around 65 km at a cost of more than `20,000 crores.
So far, the Centre and city governments were bearing 30 per cent of the total project cost, while at least 70 per cent was funded by international agencies like the Japan International Cooperation Agency and banks.
However, while the city government has run out of funds, largely on account of investment on Commonwealth Games, funding from the international agencies has also run into problems a couple of times.