India's railway will borrow Rs 151.03 billion from markets for the financial year 2013-2014, railway minister Pawan Kumar Bansal said on Tuesday as he presented his ministry's budget to parliament.

The country's railway network is the world's fourth largest but it has suffered from years of low investment and political meddling. The result is a creaking system plagued by delays, overcrowding and slow freight delivery times that sap the competitiveness of Asia's third-largest economy.