The Railways will have joint venture arrangements under which the Centre and States will have 50 per cent equity each and joint ownership in rail projects, aiming to speed up their implementation and improve coordination with State governments. “The new company formed will have representatives from State governments on the Board of Directors. They will decide on the project’s priorities and its implementation,” Railways Minister Suresh Prabhu said during Question Hour in the Rajya Sabha. He observed that 17 States have agreed to the new arrangement as of now.
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