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.
After cutting the embankment of Pakistan's largest lake, efforts are being made to stop the water
Chief Election Commissioner Rajeev Kumar on Tuesday said fake social media posts are affecting fr
Tremendous politics is going on in Delhi regarding the case of assault on Aam Aadmi Party's Rajya
Delhi Health Minister Satyendra Jain said that in the coming days, between 12 and 14 thousand cas
There are ups and downs in the cases of corona in the country. There has been an increase in the
The month-long tussle between Rajasthan Chief Minister Ashok Gehlot and former Deputy Chief Minis
Modi seeks Opposition Cooperation
New Delhi, March 3 (IANS) Prime Minister Narendra Modi on Tuesday sought cooperation of the opp
Union Home Minister Amit Shah has reached Varanasi on Friday for a two-day visit. The Home Minist
The 100th episode of Prime Minister Narendra Modi's monthly radio program Mann Ki Baat will also
Swine flu on the rise in Uttar Pradesh: Official
Lucknow, Feb 11 (IANS) Swine flu cases are on the rise in Uttar Pradesh, health officials admit
