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.
The head of the data analyst department of Congress raised questions about the old pension system!
Amid the election atmosphere in the country, many promises and issues are coming to the fore. The
The Indian team on Sunday registered its sixth consecutive win by defeating defending champions E
Researchers at Ben-Gurion University of Israel have created an electro-optical corona test kit th
According to the Forbes list, Gautam Adani, the world's fourth richest person, has said that unde
Finance Minister Nirmala Sitharaman will introduce the new Income Tax Bill approved by the Select
Prime Minister Narendra Modi has flagged off Vande Bharat from Katra railway station to Srinagar.
Bollywood superstar Salman Khan has been in the news for the past few days. In fact, at 5 am on S
US President Joe Biden has called Russian President Vladimir Putin a war criminal for his attacks
Will Lawrence Bishnoi contest elections now? Who gave him the offer to join politics?
There is not much time left for the Maharashtra Assembly elections. In such a situation, a strang
Because of the rapid spread of Corona in many countries of the world including China, the Governm
