The Union Cabinet approved the redevelopment of Railway Stations by Indian Railway Stations Development Corporation Limited (IRSDC) as Nodal Agency and main Project Development Agency. The redevelopment will be undertaken through simplified procedures adapting various business model and for longer lease tenure of up to 99 years. This program will help provide state-of-the-art amenities for passengers, generate additional revenues and will be overall at least cost neutral to Ministry of Railways (MoR) over a basket of stations.
The Union Cabinet approved the Memorandum of Understanding (MoU) between India and Russia on bilateral cooperation in the road transport and road industry. The MoU will be signed during the upcoming visit of Russian President to India. Both the countries will benefit by mutual cooperation in the field of Road Transport and Road Industry. Increased co-operation, exchange and collaboration with Russia will contribute to establishing a long-term and effective bilateral relationship of communication and cooperation in road transportation and road industry and Intelligent Transport System (ITS).
The Union Cabinet approved the signing of a MoU between National Small Industries Corporation Ltd (NSIC) – a Public Sector Undertaking of the Union Ministry of Micro, Small & Medium Enterprises (MSME) and JSC-Russian Small & Medium Business Corporation (RSMB Corporation), Russia. The MoU will be signed during the upcoming visit of Russian President to India. The objective of the MoU is to promote cooperation between the Small & Medium Enterprises (SMEs) of the two countries.
The Union Cabinet gave its ex-post facto approval to the Second Protocol amending the Comprehensive Economic Cooperation Agreement (CECA) between India and Singapore. The CECA was signed on August 24, 2018. The Union Cabinet approved the implementation of Indore Metro Rail Project comprising Ring Line of length 31.55 Km from Bengali Square – Vijay Nagar – Bhawarsala – Airport – Patasia – Bengali Square. The line will connect major public nodes and city cluster areas of Indore. The numbers of stations on the Ring Line are 30.