The Joint Commission, which was established in June 1987, provides an opportunity for the two neighbouring countries to review bilateral cooperation in all areas.
The 18.5-km railway track will start from Rupaidiya Railway Station in eastern Uttar Pradesh and pass through Jayaspur, Indrapur, Guruwa Gaun, Hawaldalpur, Rajhena to end in Kohalpur in Nepal.
In the bill, related to the management and regulation of information technology, the government has prescribed a fine up to Rs 1.5 million and/or five years imprisonment for individuals.
The prime minister said the agreement signed by Nepal and China for the assistance to railway connectivity is an important document of his visit.
Modi was speaking during a joint press meet after holding talks with Oli, who said that Nepal wanted to create a strong relationship based on mutual trust.
Indian PM Modi, Nepal counterpart K P Sharma Oli jointly inaugurate Janakpur-Ayodhya direct bus service
Modi flagged off the bus after visiting the famed 20th century Janaki temple, dedicated to the Hindu goddess Sita, where he offered special prayers.
After the bilateral talks, PM Modi said India will continue to support Nepal as per that country's priorities, adding both sides have agreed to expedite all connectivity projects.