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News Entry# 288943
Dec 17 2016 (19:17)  Despite rise in investment, Railways still needs more: Prabhu (
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News Entry# 288943     
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Even though the investment in Railways has stepped up by three times in the last two years compared to the last decade, the sector is still suffering from lack of investment, Railway Minister Suresh Prabhu said today. Mr Prabhu said the Government at present was not only relying on the traditional budgetary sources for investment, but other external sources also. While public investment was a key source of investment, the organisation had opened various sectors for private participation.
The areas include manufacturing of diesel and electric locomotives, railway station redevelopment, integrated multimodal transport system, Mr Prabhu said while addressing the 89th Annual General Meeting of FICC here. "It has initiated railway station redevelopment and different models are implemented in Habibganj, Bhubaneswar, Gandhinagar
and Surat," the Minister added.
Mr Prabhu specified that one of the significant steps by Railways was bringing structural changes in management for faster decision making process and would bring accountability in Railway operations.
Talking about Rail Vikas Shivir, he said that 1.3-million employees shared innovative ideas in rail operations and advanced a roadmap for substantial progress of the sector.
Emphasising the challenges in the sector, the Minister said that railways was suffering from lack of investment, customer service, capacity augmentation, freight and timely service. The biggest impediment for growth was lack of infrastructure and government was continuously working in a positive direction.
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