New Delhi: Hardselling Indian Railways as “the perfect destination”, Railway Minister Suresh Prabhu on Friday said its revenue would rise by 50 per cent over the next five years as it scouted for foreign investment.
Addressing India Investment Summit 2016 here, he said India is the “most happening country” in the world at a time when major economies are witnessing a slowdown, which he said makes it all the more compelling to invest in railway.The Railways, the Minister said, is trying to create a fund, with the World Bank as anchor and pension and sovereign wealth funds as co-investors. “The Railways is the perfect destination… stream of income is guaranteed. The Rlys is being owned by the Govt of India. So, the capital is definitely completely safe,” Prabhu told. On revenue growth, the minister is “sure that in next five years, (it) will increase at least by 50 per cent… so, revenues will rise and that will also provide some sort of comfort to investors”.
