New Delhi, March 11 (IANS) In line with the the funding programme outlined in last month's Railway budget, state-run Life Insurance Corp (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.
The railway ministry described it as "one of the largest funding for the Indian Railways" and "yet another fulfilment of the railway budget's commitment".
Following his presentation of the Railway budget for 2015-16, Railway Minister Suresh Prabhu had said that in view of the difficult fiscal situation, the Railways had lower expectation of union budgetary support.
Amidst the tension with India, Bangladesh and Pakistan are getting closer. What is happening in B
Satyapal Malik has now clarified on his claim that Amit Shah has raised questions on the attitude
Is this agreement between China and Bhutan a tension for India?
On Thursday 14 October, the foreign ministers of China and Bhutan held a meeting via video confer
Bengaluru: "Haye Rey Bengaluru traffic", loss of Rs 19,725 crore every year; claim in the study
Rs 19,725 crore is being lost every year due to traffic in Bengaluru alone. This is not us but it
Two Glock pistols and other weapons recovered from the terrorists killed in a joint operation by
Anti-hijab girls in Iran have waged a war of words against the dictatorial government. Many anti-
Economic Survey: Union Home Minister Amit Shah said- India is ready to emerge as a global superpower
Union Home Minister Amit Shah on Tuesday said India is poised to emerge as a global superpower an
After finding Pakistan and US-made shells and cartridges in the garbage on Tanki Road in Kotgarvi
Efforts are on to rescue those trapped in the tunnel after the disaster in Tapovan in Chamoli dis
Maharashtra Political Crisis: Amidst the political ruckus in Maharashtra, Chief Minister Uddhav T
