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‘Railways need investment of Rs 50,000 crore to become world’s best organisation by 2030’

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Railway Minister Piyush Goyal has stated that railway is touted to become the world’s best organisation by 2030. For achieving this objective Rs 50,000 crore investment is necessary which can’t be fulfilled only by the government. Therefore privatization is necessary in some departments of railways. Goyal stated that railways have reached Goa and time has come to take further steps to make the state ready for tourism activities.

Goyal stated, “I am not talking about privatization of railways but it will be required in some section of the organisation. Railways are a premier institution for transportation and budget has taken care of this aspect. It is necessary to attract an investment of Rs 50,000 for the next 10 to 12 years. Steps have been taken to augment security of passengers and it has been decided to double the investments for railways. It has been decided to allocate 1.60 lakh crore for development of railways. In the year 2014-15 the railways had been allocated an investment of 40 to 45 thousand crore.”

“The government can’t itself attract Rs 50,000 crore investment for railways and private investment will be sought. We are concerned about the development of railways,” he added.

Private firms will be allowed to lay new railway lines and license will be provided by the government for the same.

 

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