Chief Minister's Sugam Transport Service Launched in Madhya Pradesh
| Aspect | Details |
|---|---|
| Event | Chief Minister's Sugam Transport Service approved in Madhya Pradesh. |
| Objective | Establish a convenient, safe, and well-organized passenger transport system in cities and rural areas. |
| Financial Sanction | Rs 101 crore 20 lakh sanctioned for the project. |
| Structure | - Holding company formed under the Companies Act, 2013.- Regional companies for Rewa and Gwalior.- Three-tier structure for monitoring. |
| Asset Utilization | Movable and immovable assets (e.g., bus terminals, bus stops) to be developed by the holding company. |
| Rule Amendments | In-principle approval for amendments in Madhya Pradesh Motor Vehicles Rules, 1994. |
| Operational Model | Public-Private Partnership (PPP) model adopted for bus operations. |
| Companies Act, 2013 | - Enforced on 30 August 2013.- Establishes National Company Law Tribunal (NCTL).- Introduces One Person Company concept. |
| PPP Model | - Long-term agreement between government and private sector.- Forms Special Purpose Vehicle (SPV).- Promoted in sectors like roads, railways, renewable energy, etc. |
| Benefits of PPP Model | - Timely and cost-effective project completion.- Enhanced quality and productivity.- Increased government income. |