Shri Piyush Goyal pitches for private investment in railways

Union Railway Minister Shri Piyush Goyal on 13.03.2020 made a strong pitch for private investment in railways, saying it will help the Centre realise the goal of Rs 50 lakh crore investment in the sector over the next 12 years.

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  • In his reply in Lok Sabha to a discussion on demands for grants of his ministry, the minister said if it is only left to the government to raise all the money, then welfare schemes will be hit and it may be forced to boost revenue by raising taxes and fare.
  • He favoured using skills of the private sector and facilities it may bring at less cost, saying it will strengthen the railways and help its expansion.
  • Mr. Goyal said that there is a need for Rs 50 lakh crore investment in the railways in the next 12 years.
  • He said allocations for the sector was enhanced to Rs 1.61 lakh crore this year from Rs 54,000 crore in 2013-14.
  • He said that the increased allocation is being used on 58 super critical and 68 critical projects.
  • The current government fixes big target and make all efforts to achieve that, the minister added.
  • He said,”We fixed a target for electrification of 6,000 km of rail line and reached 5,200 km as against 600-650 km of electrification in 2013-14.”
  • The railways has started the tendering process to launch 44 more Vande Bharat Express, high speed trains, in the country.

Image Credit: SCR