In a bid to revamp the creaking infrastructure, the Indian Railways has lined up mega investment plan worth Rs. 96,000 crore to scale up its operations across networks including a new $3-billion electric locomotive unit and a station development plan for large cities. The railways is planning extensive consultations to work out a model that serves the twin goals with the minister maintaining that funds are not going to be a constraint. Railways’ capex has increased from Rs.35,000 crore five years ago to Rs.1.3 lakh crore during the current fiscal, which is partly led by the need to step up public investment at a time when the private investment remains muted due to excess capacity and stressed finances of several Indian companies. Complete modernization of railways’ signaling system, including automation at a cost of Rs.78,000 crore, is expected to get approval in the Budget. The Budget is set to focus on electrification as railway has advanced the deadline for completing switchover from diesel to electric by two years to 2020. As Railways may get Rs.65,000 crore as gross budgetary support, an increase of Rs.10,000 crore from the last one, it will generate funds from internal resources and also from market to meet the huge requirement for infrastructure modernization.
📅Published on:
29 January 2018
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