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Indian Railways Set to Invest 50 Lakh Crores in The next 10 Years

Infra News - Published on Mon, 22 Jul 2019

Image Source: openmarkets.in
At the inaugural session of the two-day CII Rail Connect, held in New Delhi, Mr Suresh Angadi, Hon’ble Minister of State Railways spoke of several interesting developments aimed at modernization of Railways. “With growing consumerism and a large workforce, Indian Railways needs further investment, private participation and focus on freight transportation,” said the Minister addressing the industry and the various stakeholders. “The Government is focusing on market-friendly mechanisms and ease of doing business.”

Echoing the same vision for growth, Mr Vinod Kumar Yadav, Chairman, Railway Board said, “Indian Railways is now gearing up for quantum jump in infrastructure development.” He said that freight transportation has been cross-subsidizing passenger transport. There is no lack of demand, but capacity is a constraint due to lack of land clearance and delayed forest clearances. Under digitalization of railways, one of the many recent initiatives is the introduction of the real-time information system. A pilot project of GPS installation has been run on 4000 locomotives, and automated chartering of trains have been started.

Mr N Sivasailam, Special Secretary, Logistics, Department of Commerce, Ministry of Commerce and Industry also spoke at the inaugural session. “The logistics’ contribution to GDP stands at 13 per cent, comparable to that of developed nations of 7-9 per cent. The cause of concern is the declining trend of the contribution made by Railways. Therefore, we need to prioritise freight in rail transportation”. He emphasized that digitization, appropriate utilization of assets, encouraging PPPs, and proper dispute resolution mechanisms will go a long way in streamlining railways and attracting private investors.

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Posted By : Mohan Sharma on Mon, 22 Jul 2019
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