Cabinet approves formation of JV with states for rail projects

Q.  Cabinet has approved the formation of JV with states for which projects?
- Published on 04 Feb 16

a. Rail
b. Road
c. Air
d. Port

ANSWER: Rail
 
Cabinet has approved the formation of JV with states for rail projects to ensure wider participation of states. Railways has formed JV companies with state government for mobilisation of resources for quick implementation of rail projects. JV companies will now be responsible for project identification, land acquisition and financing in addition to government funding and monitoring. Cabinet presided by PM Narendra Modi has taken the decision that JV companies would be formed with equity participation of Railways Ministry and concerned state governments. Each JV will have paid up initial capital of INR 100 crore associated with the project quantum of projects to be undertaken. The initial paid up capital is limited to INR 50 crore for each state.

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