PM sets deadlines for award of railway, road & port projects
He has set a deadline of December 31 for an inter-ministerial group to finalise its proposal for a Rail Tariff Authority (RTA) , which will suggest rationalisation of passenger fares. There has not been any hike in passenger fares for the last nine years, which has strained railways’ finances. The absence of passenger fare hikes means the government has lost about R24,000 crore over the same period. The Union Cabinet will consider the proposed RTA latest by January 15, 2013, as per a statement issue by the Prime Minister’s Office (PMO).
The Prime Minister said that a state support agreement for the R21,000- crore elevated rail corridor will be signed with Maharashtra in the next 15 days. This project is currently under the pre-bid stage and the government plans to invite bids before the 2013 Rail Budget. The deadlines have been decided after a series of review meetings Singh recently held with the ministries concerned.
To remove financing constraints for road projects, the highway ministry would seek suggestions of the Prime Minister’s Economic Advisory Council. The council would examine the suggestion of banks to keep loans
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