Rs. 6.5 lakh-cr worth rail projects on anvil

In the newest initiative, the Indian Railways is all set to kick-start stalled rail projects entailing a whopping investment of Rs. 6.5 lakh-cr, said the concerned minister, adding that the sector's freight share cannot be increased without being market oriented and to achieve its targets, the railway has to start these infra projects lying in limbo for various reasons. Stating that he is working on to reverse the decades of underinvestment in the rail freight infra side, the Railways has undertaken as many as 104 reforms to make the sector investors friendly. Noting that more than two-thirds of the revenue comes from freight, of which 50% flow from coal, as such there is a dire need to diversify the freight basket and reduce the reliance on coal. Listing some of the reforms he has initiated on this front, the freight rates are also reduced on many items, and have also done away with port congestion and handling charges and the entire process will be back on track by 2020, he said.

Published: 03 October 2016