Hyderabad, Jan 19 (IANS) The Indian Railways has decided to form Special Purpose Vehicles (SPVs) with all the states to undertake specific railway projects in the concerned states, said Railway Minister Suresh Prabhu.
He told reporters here Monday that the SPVs will be formed with equity participation from the Railways and the state governments concerned.
"Some state or other always complains justice is not done to them in sanctioning railway projects. We have decided to have SPVs with each state to meet its specific requirements," he said.
The minister said each state will decide the priorities and send it to the Railways, which will execute projects under the SPV.
"What surplus is generated will remain with the state for expansion of rail network and other works," he said.
Prabhu, who flagged off two new trains at Secunderabad Railway Station, said during a meeting with Andhra Pradesh Chief Minister N. Chandrababu Naidu three days ago they decided to form the SPV.
He said he would propose the same to Telangana Chief Minister K. Chandrasekhar Rao during a meeting with him here later in the day.
Stating that demands for new trains, new railway lines and other railway projects continue to come from the states, the minister said bringing investments to meet the requirements was a challenge for the Railways.
Asked whether his statement that Railways is in bad financial position means an imminent hike in fares, Prabhu remarked: "Burden of Railways is burden of common man as the Railways belongs to common man."
"We have to make sure how railways are run properly, giving more benefits and more amenities to common man," he added.
Amid growing tension in the world, the US Navy has raised the concern of western countries by say
The common man may get another setback amid rising inflation. Petrol-diesel may become more expen
HC asks Delhi Police to curb illegal sale of acids
New Delhi, March 30 (IANS) Taking strong note of acid attacks on women, the Delhi High Court ha
A day after the controversy started over the bag check of Shiv Sena (UBT) chief Uddhav Thackeray,
The outbreak of the Corona epidemic seems to be decreasing in the country for the last week. The
Muslim quota meet in Pune Refused use of ground
Pune, Feb 2 (IANS) Police Monday refused permission to a proposed Muslim conference on reservat
India has to participate in the ODI World Cup in its hosting in October-November this year. Team
Defense Minister Rajnath Singh has said that according to the vision of Prime Minister Narendra M
The fire that came on Monday in Turkey and Syria created havoc. Thousands of people got absorbed
For special treatment go to Pakistan: Shiv Sena to Muslims
Mumbai, March 3 (IANS) "If the Muslim community in India want any special treatment as Muslims,
