Blog Entry# 1963565
Posted: Aug 15 2016 (17:23)
Last Response: Aug 15 2016 (17:23)
Other NewsAug 15 2016 (17:17) Railways to float Cabinet note for development fund | Business Standard News
For Better Managed Indian Railways~ 948 news posts
The railways ministry is set to float a Cabinet note soon for creating the Railways of India Development Fund, anchored by the World Bank, which would be used for modernisation of rail infrastructure in the country.
The proposal has already got a go-ahead from the finance ministry. “We would soon float a Cabinet note for setting up the fund, which would be up for inter-ministerial consultation,” said an official close to the development. According to media reports, the initial corpus of the fund would be around $5 billion and it is likely to be operational by the first half of 2017.
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