The Cabinet has approved the formation of Joint Venture Companies with various state governments to mobilize resources for undertaking various rail infrastructure projects in the states. The initial paid up capital of Ministry of Railways would be limited to Rs 50 crore for each State. <br/><br/>Joint Venture Companies would be formed with equity participation of Ministry of Railways and concerned State governments. Each Joint Venture would have an initial paid up Capital of Rs 100 crore based on the quantum of projects to be undertaken.<br/><br/>This would ensure greater participation of State Governments in implementation of railway projects both in terms of financial participation as well as decision making process. <br/><br/>The government has approved the signing and ratification of agreement for exchange of information between India and Maldives with respect to taxes. The Agreement will stimulate effective exchange of information between the two countries which will help curb tax evasion and tax avoidance. <br/><br/>Cabinet has given ex-post facto approval for signing of Memorandum of Understanding, MoU, among BRICS countries on BRICS Network University. The negotiations were held during the 3rd BRICS Education Ministers meeting and Senior Officials meeting in November this year at Moscow. <br/><br/>The MoU will help in developing pro-active cooperation among the BRICS nations for the purpose of enhancement of scientific research, higher education, information exchange, and mobility of students, researchers and educators.