Railways has not got its share of investments, says minister

Source:  www.business-standard.com

Indian Railways would need at least $100 billion of investments to expand its network and improve service standards, Railway Minister Suresh Prabhu said on Thursday, during his inaugural address at the Business StandardInfrastructure Summit.

“Unlike roads and airports, which benefited (from investments), Indian Railways has not got its share of investments. That has caused many problems. We need to add 30,000 km of tracks across the country; that will cost about $50 billion,” Prabhu said, adding the spin-off benefits would be huge for manufacturing sectors.

The minister further said long-delayed investments in India Railways could be raised through various means, such as mobilising funds of public-sector undertakings and tapping pension funds from countries like Australia and Canada. These could give a major boost to Prime Minister Narendra Modi’s Make in India programme. More info

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