India Govt. Will invest $137 billion in railways in next 5 years. As we all know budget session is going on and already hype created because of oppose of Land ordinance between all these yesterday Railway minister Mr. Suresh Prabhu, Revealed Railway budget. Indian government unveiled plans on Thursday to invest $137 billion in its decrepit rail network over the next five years, heralding Prime Minister Narendra Modi’s aggressive approach to building infrastructure needed to unlock faster economic growth. Scroll below to know more whats a Modi’s Government rail Budget.
Indian Railway Government budget 2015
Presenting the rail budget two days before the Union Budget – also expected to hike infrastructure spending – Railway Minister Suresh Prabhu shied away from hiking passenger fares to finance the upgrades, but raised freight rates.
He said the budget “set the direction of a long and difficult road of reform.”( Source : in.reuters.com )
Mr Prabhu left the heavily subsidised passenger fares unchanged.
The state-run railways operate more than 12,000 trains, carrying some 23 million passengers daily.
But decades of neglect, low investment and subsidised fares have left the network in a shambles.
The fall in the price of diesel that powers most Indian trains and a pick-up in freight earnings has made funds available for investment, officials say. (Source : bbc )
Mr Prabhu told parliament that funds would be also raised from multilateral lenders, infrastructure and pension funds, as well as from “monetisation” of railway assets. He said the railway would not be privatised.
“Over the next five years, the railways have to undergo a transformation,” Mr Prabhu said.
“We have to make Indian Railways a benchmark organisation in safety, security and infrastructure.”
Mr Prabhu promised to make India’s railways safer, build more lines, increase the speed of journeys on nine major routes, and improve the experience of travelling with wi-fi in stations.
“Railways facilities have not improved substantially for the past few decades, which is the result of under-investment that affects capacity, leading to poor morale,” he said. (told bbc)
He said the share of rail revenue available for investments would rise to 11.5% in the financial year to start on April 1, up from 8.2% in the current year.
On-board entertainment on select Shatabdi trains, provision of Wi-fi in Category-B trains and 200 more stations to be brought under Aadarsh Station Scheme were some of the passenger amenities that the railway minister announced.
Goods earnings was proposed at Rs 1,21,423 crore, including rationalisation of rates, commodity classification and distance slabs. ( Source : business-standard )
Rail budget by Railway minister hd video :
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