NEW DELHI: A whopping investment of USD 120 billion will be made in next five years in the cash-strapped railways which is in the process of upgradation and expansion, Railway Minister Suresh Prabhu said on Tuesday.
He highlighted the challenges faced by railways like ticketless travelling and bad condition of toilets in trains and sought innovative ideas from the youth to address these, with a promise of awards for best among them.
Addressing a gathering of students and alumni from IITs and other premier institutes like National Law University and London School of Economics, he said the railways is facing many challenges which need to be addressed.
Railways needs massive investment for upgradation and expansion of its network, Prabhu said.
"There has been no investment in the railways for the last 20-25 years... There will be an investment of USD 120 billion in the next five years to catch up with the backlog," he said.
Riya Chopra (Delhi)
This railway minister is really making some work for Indian railways.. Hope he continues his good work..... and brings
Ark Here (Chennai, Tamil Nadu)
Govt is giving one sided picture! Few days back I waited hours in a local railway station for a journey of about 8 km by spending Rs,10. Government did not increase the frequency of the local trains for Kolkata suburb, but expects people to travel like a goat and pay them as human! In the south part of India, Indian Railways run almost semi-empty trains as no one bothers for local trains as road transport is efectively better and quicker! So in one words, minister pays some attentions to long distance trains but neglected local services over the years! May I know how much money railways makes/looses with metro services?
Shivaram L ()
Seal the platforms like airports to only allow passengers with tickets that will be a first line of defence against ticket less travel. This will also clean the platforms and remove menace of beggars, touts and anti social elements.
Titto Tripathy (Unknown)
Will this be only for infrastructure development or for new trains ??
wow...very great...we want to see those bullet trains and quick journeys within short periods very soon...thanks for Modi ji, as he at least started the base work and i am sure he is going to complete the same
nityas2005 NItyananda ()
Suresh Prabhu's arithmetic implies that for this financial year 2015-2016, an investment of USD 24 BN ( Rs 144000 crore) will be made . Let us see if that happens first, before evaluating further plans of the Railways.
It matters not how much money you pump into Indian Railways. It matter where it is used and how it is used. Take the example of Air India. Nevertheless, my good wishes are with the Railway Minister.
Prbhu is fast moving Railways towards Privatization. Without Privatization there is no chance of getting $120 Billion investment.
Railways is a Money pit. Why the government needs to invest in this ?
Azad () 8 hrs ago
Wow...i am feeling proud that i voted for BJP...
BLRINDIAN PEACE (Unknown)
MR. Suresh Prabhu FROM WHERE YOU WILL pump $120 billion to Indian railways in 5 years:
More new lines are needed.