Union Cabinet gives approval for forming JV companies with state governments
Q. Union Cabinet has given approval on 30th December 2015 for firming joint venture companies with ________ government.- Published on 31 Dec 15a. Central
b. State
c. UT
d. District
ANSWER: State
Union Cabinet on 30th December 2015 provided approval for forming a joint venture company with state governments to mobilise resources for numerous rail infrastructure projects to provide a bid to push the infrastructure sector. For improving the connectivity between India and neighbouring country Myanmar, Union Cabinet also approved construction of 69 bridges on the TKK or Tamu-Kylgone-Kalewa route of the Trilateral Highway in Myanmar. In the railways JV, Union Cabinet has taken the decision to limit initial paid up capital for Ministry of Railways to INR 50 crore for each state. JVs aim at financial participation of states and quicker decision making to ensure speedy implementation of rail projects.
