New Delhi, March 12 (IANS) The Railway Budget for 2015-16 was passed by the Lok Sabha on Thursday with Railways Minister Suresh Prabhu saying a strong push would be given to hike investment in the railways.
Replying to the debate in the house, Prabhu allayed fears that railways would be privatised, and announced the setting up of a high-level new body called Kaya Kalp Council to turn railways into a vibrant organisation commercially with the participation of private sector.
He said several projects announced by his predecessors have been pending for long for lack of funds.
Citing the deal with state-run Life Insurance Corp (LIC), Prabhu said plans were afoot to partner with other such units like Coal India Ltd. to boost railway infrastructure.
In line with the the funding programme outlined in railway budget, LIC on Wednesday committed Rs.150,000 crore to Indian Railways for development of various commercially viable projects.
"LIC has taken the task of supporting Indian Railways. It is a commercial decision. LIC will invest Rs.1.5 lakh crore over a period of five years," Finance Minister Arun Jaitley said here after signing of the memorandum of understanding (MoU) between the finance and railway ministries.
The investment would be done in bonds issued by various railway entities such Indian Railways Finance Corporation (IRFC), beginning next fiscal.
What Pakistan's Prime Minister Imran Khan said on America, Taliban, China, Israel, India, and Kashmir
Pakistan's Prime Minister Imran Khan has said that America should 'control itself', otherwise Afghanistan will collapse. He said that if this happens then Afghanistan will become a stronghold of
Asian Games 2023: Indian shooters continued their dominance on the fifth day, and won a gold medal for the country in 10-meter air pistol.
Gold medal in 10-meter Air Pistol Men Team event: On the fifth day of the Asian Games, shooters once again proved their mettle. India has won the gold medal in the 10-meter air pistol team men's
Congress President Sonia Gandhi joined Bharat Jodo Yatra, marched on foot with Rahul Gandhi and workers
Congress leader Rahul Gandhi is on 'Bharat Jodo Yatra' these days. The journey which started from Kanyakumari on 7th September has now reached Karnataka via Kerala. Congress interim president Sonia
PM Modi will distribute appointment letters to more than 71 thousand youth today, employment fairs will be held at 45 places across the country.
Prime Minister Narendra Modi will distribute more than 71 thousand appointment letters for new recruitments in various departments of the Central Government through video conferencing on Monday. On
Effect of returning monsoon: Heavy rain forecast in 13 states including Madhya Pradesh, Uttar Pradesh, Gujarat, and Rajasthan in the next 5 days
Heavy to very heavy rains are expected in the next five days in about 12 states of the country. These include Madhya Pradesh, Uttarakhand, Rajasthan, Gujarat, West Bengal. According to the
Then deteriorated matter / North Korea said - we will end all kind of contact with South Korea, now that our enemy country
Seoul North Korea on Tuesday decided to cease all contact with South Korea. North Korea said- We are closing all communication lines including the South Korea-connected hotline. It is now our enemy
Tejashwi Yadav: Lalu family resonates with joy; Tejashwi becomes a father again, and gives the good news to the RJD supremo through a video call
Amid the ongoing tussle over Tej Pratap Yadav, Rashtriya Janata Dal chief Lalu Prasad Yadav's house has been filled with joy. Lalu has become a grandfather for the second time. Tejashwi Yadav has
Coronavirus in China: China's condition worsened due to Corona, patients were forced to take oxygen while sitting in a wheelchair
A large number of people are suffering from the havoc of the Coronavirus in China. The condition of the hospitals in the country's capital Beijing is looking very bad. Some patients who reached the
US-Pakistan-China: How an American document increased the heartbeat of Pakistan and China, what is so special about it
A US government document has worked to increase the heartbeat of Pakistan and China. Though the reason for both is different the problem is for both. The US released the US National Security Strategy
India, China tensions: India is reducing military in Europe due to threat from China: US Secretary of State Pompeo
Everyone was keeping an eye on how India is seeing India-China tension, but the statements of US President Donald Trump and Foreign Minister Mike Pompeo on the whole controversy were not very
