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.
Andhra Pradesh Deputy Chief Minister Pawan Kalyan on Thursday said that the case of adulteration
Shah Rukh Khan Film Jawan Preview Out: Shah Rukh Khan's fans are eagerly waiting for his next fil
On the day of Diwali, there was a boom in the Indian stock market during Muhurta trading. On this
Katheria calls for better management at Taj Mahal
Agra, March 23 (IANS) Minister of State for Human Resource Development (HRD) Ram Shankar Kather
The encounter with Anil Dujana proved the Yogi government's strict policy against mafias once aga
Green tribunal seeks report on Ghaziabad's concretisation
Ghaziabad, March 9 (IANS) Following a petition filed by an environment activist, the National G
South Indian actor Yash received a lot of love and appreciation for his performance in the action
Corona vaccine is not available in the country and Prime Minister Modi is celebrating the Tika fe
The Central Government on Tuesday announced gallantry awards to be given to the Armed Forces Forc
Woman dies of black fungus infection
Gurugram Even though no concrete steps are yet to be taken at the district level regarding Black
