Rail infrastructure requires Rs 50 lakh crore till 2030: Sitharaman

New Delhi: The Indian Railways is set to allow larger participation of the private sector through public-private partnerships (PPPs) in passenger and freight services, Finance Minister Nirmala Sitharaman said. "The railway infrastructure needs investment of Rs 50 lakh crores between 2018 and 2030. PPPs will unleash development in the railways sector" Sitharaman said, presenting the first budget of the new government on Friday. Sitharaman said that the development targets of the Indian railways cannot be met by the public sector alone, calling for larger participation of the private sector.The government will also open up rolling stock manufacturing to the private sector, Sitharaman said. This comes close on the heels of the 100 Days action plan of the Indian Railways, which pitched for 'corporatization' of rolling stock production units to improve efficiencies. The ministry also called for allowing private players to operate passenger trains on important routes in the country.

from Economic Times https://ift.tt/2Xpe1ZP