Railways unveil Rs. 1.35 lakh-cr infra plans

In its quest to build world-class rail infrastructure across the country, Indian Railways chalked out an ambitious plan of Rs. 1.35 lakh-cr for the next financial year. To meet its investment targets, it plans to seek almost Rs. 60,000-cr from the finance ministry as gross budgetary support and another Rs. 25,000-cr from LIC as loan. The remaining amount will be raised by the Indian Railways Finance Corporation (IRFC) bonds, internal resources and public private partnerships (PPP). In this connection, the railway has already entered into a memorandum of understanding (MoU) with LIC to avail of an annual loan of Rs. 25,000-cr and that railway has also decided to secure funds between Rs. 20,000-cr and Rs. 25,000cr. Several projects will also be taken up on PPP model. Railways have also set up various joint ventures with state governments and funds spent through these JVs are accounted as PPP by railways. Railways plans to use funds for constructing freight corridors, improving connectivity in Kashmir and North-East, upgrading signaling, redeveloping stations, improving passenger amenities, acquiring rolling stock, expanding critical freight lines near coal fields and ports, said an official spokesperson.