Indian passengers travel on a suburban train in the financial hub Mumbai on February 24, 2016. Indian Railways Minister Suresh Prabhu is scheduled to present the railway budget to parliament on February 25.  AFP PHOTO / PUNIT PARANJPE
Indian passengers travel on a suburban train in the financial hub Mumbai on February 24, 2016. Indian Railways Minister Suresh Prabhu is scheduled to present the railway budget to parliament on February 25. AFP PHOTO / PUNIT PARANJPE

New Delhi: Union Finance Minister Nirmala Sitharaman on Friday stressed that the railways need an investment of Rs 50 lakh crore from 2018 to 2030 and proposed public private partnership to unleash faster development of passenger and freight services.

"It is estimated that railway infrastructure would need an investment of Rs 50 lakh crore between 2018 to 2030. "Given that the capital expenditure outlays of railways is between Rs 1.5 to 1.6 lakh crore per annum, completing even all sanctioned projects would take decades.

"It is therefore proposed to use public private partnership to unleash faster development and completion of tracks and rolling stock manufacture and also delivery of passenger freight services," she said.

"Railways will be encouraged to invest more in suburban railways through Special Purpose Vehicle (SPV) structures like Rapid Regional Transport System (RRTS) proposed on the Delhi-Meerut route," she added.

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