CURRENT AFFAIRS

Detailed explanation-1: -NEW DELHI: Indian Railways has signed a joint venture agreement with the state government of Jharkhand for developing railway infrastructure in the State.

Detailed explanation-2: -1844 – First proposals for the construction of Railways in India were submitted to East India Company by R.M. Stephenson, a Railway Engineer in British India. 1849-East India company undertakes a construction of a 160 km Railway line from Calcutta to Mirzapur.

Detailed explanation-3: -Indian Railways (IR) is the state-owned railway company of India, which owns and operates the country’s rail transport. It is overseen by the Ministry of Railways of the Government of India.

Detailed explanation-4: -The PPP model can bring opportunities for investment, operating efficiency and modern and clean technology. PPP railway projects provide for shared use of rail tracks may lead to efficiency gains and an increased revenue basis (or reduced cost basis) for states and private investors.

Detailed explanation-5: -Railways were first introduced to India in 1853. By 1947, the year of India’s independence, there were forty-two rail systems. In 1951 the systems were nationalised as one unit, becoming one of the largest networks in the world.