Union urban development ministry proposed to set up a National Capital Region Transport Corporation (NCRTC) for better coordination of transport infrastructure in the area.
According to the proposal, the ministry of urban development and the railways may hold 22.5 per cent each in the corporation, while the NCR Board may hold five per cent.
The state governments of Uttar Pradesh, Delhi, Rajasthan and Haryana would equally contribute the remaining 50 per cent share capital.
The initial capital of the proposed corporation is expected to be Rs 100 crore. NCRTC will be headed by an independent chairman. Its co-chairman will be secretary in the department of urban development.
Urban ministry wants to set up NCRTC for coordinating with state governments on completion and operation of major transport projects in the National Capital Region (NCR), which includes the Metro and the Rapid Rail Transit System.