IN a major policy reform initiative, India’s cabinet approved a proposal on April 5 to establish an independent rail regulator, which will be responsible for setting Indian Railways’ (IR) freight and passenger tariffs and ensuring a level playing field for stakeholders and investors.
PRESENTING India’s first combined budget on February 1, finance minister Mr Arun Jaitley announced an enhanced plan size of Rs 1.31 trillion ($US 20.8bn) for Indian Railways (IR) for the 2017-18 fiscal year and announced the setting up of a Rail Safety Fund (RRSK).
INDIA’s National High Speed Rail Corporation (NHSRC), Japan International Consultants for Transportation (JIC), Nippon Koei, and the Oriental Consultants Global Company Limited joint venture has been appointed as general consultants to execute India’s first high-speed rail corridor linking Mumbai with Ahmedabad.
INDIA’s cabinet granted approval on November 30 for the Rs 109.5bn ($US 1.6bn) Mumbai Urban Transport Project Phase 3 (MUTP 3) project, which aims to expand rail infrastructure in the Mumbai, Thane, Palghar and Raigad districts of the western state of Maharashtra.
INDIAN Railways (IR) is exploring options to extricate itself from a Japan International Cooperation Agency (JICA) precondition that binds it to acquire rolling stock and systems equipment from Japanese companies, after talks with a Kawasaki-led consortium over the acquisition of 200 freight locomotives broke down.