Railways

Cabinet approves $1.4 bn new metro rail project

DELHI

The cabinet approved on Wednesday a new, 86.8-billion-rupee ($1.43 billion) metro rail project in Maharashtra, the government said in a statement.

The go-ahead for the Nagpur rail project comes weeks after Prime Minister Narendra Modi permitted foreign investment in railways as part of his efforts to upgrade the nation’s infrastructure for an economic turnaround.

Analysts reckon India’s poor infrastructure shaves off as much as 2 percentage points from its gross domestic product.

Read more at Economic Times

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