Railways creates special northeast development fund

February 26th, 2008 - 9:40 pm ICT by admin  

A file-photo of Manmohan Singh

New Delhi, Feb 26 (IANS) Railway Minister Lalu Prasad Tuesday announced that rail network development in northeastern India, currently poorly connected, would be funded through the Northeast Rail Development Fund. Lalu Prasad, while presenting Railway Budget 2008-09 at the Lok Sabha, said he would request Prime Minister Manmohan Singh to ensure funding for rail projects in the northeast.

The railways would provide 25 percent of the money for the special fund. The minister urged the central government to provide the remaining 75 percent from the national exchequer.

He said new rail tracks connecting Tripura would be complete soon.

The railways have sought additional funds to the tune of $428 million from the central government for various ongoing projects in the northeast.

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