New integrated transport policy to develop multi-modal logistics parks
The Dollar Business Bureau The government's magnified focus on improving transportation and logistics infrastructure in the country is evident from the increased budgetary allocation to the sector. In Budget 2017, the Finance Minister announced a kitty of Rs. 2.41 lakh crore for transportation related projects. Another fund of Rs. 64,900 crore was earmarked for construction of highways this fiscal, 12% up from last year's allocation. The Metro Rail Act, meant to achieve dual objectives of boosting private participation and providing better urban connectivity was also a much-welcomed step. The talk about state-of-the-art multi-modal logistics parks is also seen taking shape as the Narendra Modi-led government shares details of another grand scheme in-the-making, intended to enhance connectivity via various modes of ...
India and South Korea sign MoU on technical cooperation in rail sector
The Dollar Business Bureau | @TheDollarBiz Ministry of Railways is targeting total freight loading of 1,101 million tonnes in FY2014-15 South Korea will cooperate with India and provide its technical expertise to modernise the Indian railways under a Memorandum of Understanding (MoU) signed between India’s Ministry of Railways and the Ministry of Land Infrastructure and Transport (MOLIT) of South Korea in Seoul today. Arunendra Kumar, Chairman, Railway Board represented India during the signing of the MoU, while the Korean side was represented by Yeo Hyung Koo, Vice-Minister, MOLIT. India’s Ministry of Railways said in an official statement, "The MoU would enable technical assistance and cooperation between the Railways of the two countries on areas such as High Speed Rail, Modernisation ...
