Cabinet approves setting up of non-lapsable fund in northeast

New Delhi, Feb 3 (ANI): The Cabinet Committee on Infrastructure on Thursday approved the setting up of a non-lapsable fund called 'North East Region Rail Development Fund' (NERRDF) for national projects in the north eastern region.

The NERRDF is to be funded to the tune of 25 percent through Railway Gross Budgetary Support (GBS) and balance 75 percent by Ministry of Finance as non-dividend additionally to GBS.

The funds to be provided as non-dividend bearing additional budgetary support by Ministry of Finance may be allocated at the beginning of the year.

This will ensure assured flow of funds for the national projects so as to complete them in a time-bound manner. (ANI)