Railways to establish Financial Cell to seek advice from experts
India’s Union Railway Minister Suresh Prabhu announced that the size of the Plan Budget has increased by 52 percent to approximately EUR 14.5 billion in FY 2015-16 compared to around EUR 9.5 million in FY 2014-15.
The Central Government and internal generation constitute 41.6 percent and 17.8 percent of the total Plan Budget respectively.
The Railways Minister informed the members that for financing remunerative projects through market borrowings, it is intended to tap low cost long term funds from insurance and pension funds, multi-lateral and bilateral agencies which can be serviced through incremental revenues. Railways will create new vehicles to crowd in investment from long-term institutional investors and other partners.
Additionally, the Railways will also establish a Financial Cell to seek advice from experts.
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