Private sector support to put Indian Railways on fast track

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While stressing the need for support of the private sector to accelerate the development of the railways, Railway Minister Piyush Goyal on Sunday referred to the famous ‘railgaadi’ song of actor Ashok Kumar. He highlighted the need for a Public-Private Partnership (PPP) funding model for the sector.

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  • He said, “We want to end the era of slow-moving trains by making way for the fast speed-driven MEMU and electric trains, like the trains being run in suburban Mumbai (with the help of private sector)”.
  • The railways wants to attract an investment of Rs 50 lakh crore in the next 12 years to expand the facilities in passenger and goods trains through modernization, he said.
  • The Railway Minister said, “This big investment is impossible through the railway and government budgets. So, the way out is to work on a public-private partnership (PPP) model.”
  • Allaying fears of privatization of the railway network, he said, “The Indian Railways is a treasure of the country and its people. This will continue and reins of the railways will remain with the government.”
  • Tenders have been issued recently for the infrastructure development and revival of facilities at 5 railway stations in the country under the PPP model, he said.
  • Tenders may be issued in the coming days to develop Indore and other railway stations in the country under this model, he also said.

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