Railways on track despite Pay panel implementation: Prabhu

Railway Minister Suresh Prabhu assured Rajya Sabha that despite having undergone the most difficult year due to Pay Commission implementation, Railway is are on on track and is reducing capital expenditure and exploring all possible ways of revival. Replying to a debate on the Railway Budget, he said, poor procurement of coal, cement, iron ore and even food has affected Railway's capacity to get revenue. Mr Prabhu said, despite this, the Railway is going all out for doubling tracks and electrification.

style="font-family: Arial, sans-serif; font-size: 10pt;">Comparing India’s investment, which is a fraction of what invested by China in the railway, the Minister pointed out that China, which is a 10 trillion dollar economy, has invested two per cent of it, while India, which is only a two-trillion dollar economy has invested 0.4 percent of its GDP in the Railway. On public private partnership investment, Mr Prabhu said there is no other way to raise funds and almost all countries and even Kerala and West Bengal are exploring this mode to raise much-needed funds for expansion.