Railway ministry pegged the investment requirement for the 347 ongoing new line, gauge conversion and doubling projects at about Rs 1.47 lakh crore as on April 1, 2012.
All sanctioned projects are progressing as per availability of resources, Minister of State for Railways Adhir Ranjan Chowdhury informed Lok Sabha.Targets for projects are fixed on yearly basis based on availability of funds. To expedite completion of ongoing projects, efforts are made to generate extra budgetary financing through State participation, PPP, defence funÂding, declÂÂÂaring some projects as National Projects and implementation of bankable projects through Rail Vikas Nigam. In addition, (i) the contract conditions have been modified to bring efficiency in contract management and field units have been empowered with further delegation of powers; and (ii) security, land acquisition and State Governments and Ministry of Environment and Forest for early approvals.
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