India News | Delhi Government's New Project: DTC Depots to Become Commercial Hubs, Aim for Rs 2,600 Crore Revenue
Get latest articles and stories on India at LatestLY. The Delhi Transport Corporation aims to generate Rs 2600 crores in revenue after its depots become commercial hubs.
By Tanya Chugh
New Delhi [India], May 15 (ANI): The Delhi Transport Corporation aims to generate Rs 2600 crores in revenue after its depots become commercial hubs.
The decision comes in a bid to rescue the continuously loss-making Delhi Transport Corporation (DTC), and the Delhi government has accelerated work on a commercial development plan.
Approvals have been granted for the redevelopment of Banda Bahadur Marg and Sukhdev Vihar depots, a top source told ANI.
The Banda Bahadur Marg depot is expected to generate revenue of Rs 1,858 crore and whereas the Sukhdev Vihar depot will generate revenue of Rs 758 crore.
These multi-level depots and projects will generate revenue through parking, advertising, installation of mobile towers and office space rentals, aiming to enhance infrastructure and DTC's financial health.
The project will follow a self-sustaining model without any DTC or government investment. The aim is to redevelop these bus depots, enhance facilities and infrastructure to generate revenue, and improve DTC's finances, as it has been in loss for quite some time now. The project is expected to be completed in 21 to 28 months.
The CAG reports tabled in Delhi's Vidhan Sabha revealed that DTC's losses have increased substantially, with accumulated losses surging from Rs 25,299.87 crore in 2015-16 to Rs 60,741.03 crore in 2021-22.
The report raised serious concerns about DTC's financial health and operational performance, as the fleet size has also reduced in previous years. It recommended reforms to improve the condition.
With the aim of improving the bus facilities, the Delhi government launched mini electric buses DEVI on 2nd May in the national capital to boost last-mile connectivity. The government further plans to discard the old buses, the fleet which has finished its time and replace them with new electric buses. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)