NATIONAL RAIL VIKAS YOJANA
The Railways have
introduced a non-budgetary programme of Rs.15,000 crores known
as National Rail Vikas Yojana during the current financial year
2003-04. Of these, Rs.8000/- crores will be for strengthening
Golden Quadrilateral connecting four metros, Rs.3000/- crore for
connectivity to major ports and Rs.3500/- crores for four mega
bridges.
To begin with,
Rail Vikas Nigam Limited has been established under the Companies
Act as a public sector undertaking to oversee funding and time
bound speedy implementation of the projects.
In this connection,
an amount of US$ 313 million has been tied up with Asian Development
Bank. Efforts are on for mobilizing resources both from multi-lateral,
bi-lateral and market resources. Projects under the three categories
of Golden Quadrilateral, Port Connectivity and Mega Bridges have
been identified and work on some projects already commenced. Besides,
part funding has been planned through Special Purpose Vehicle
(SPV) , Build Operate and Transfer (BOT) and Public Private Partnership
(PPP).
The completion
of projects under National Rail Vikas Yojana has been planned
in five years other than four mega bridges, which would take six
years.
