Railways get proposals worth Rs 15,000cr in PPP mode: Gowda

Tags: News
Indian Railways have received proposals totalling Rs 15,000 crore for development of various projects under the PPP mode, Railway Minister Sadanada Gowda said today.

Gowda also defended the recent 14.2 per cent passenger fare hike and 6.5 per cent freight hike saying it was the need of the hour as there was no hike for the last 10 years and the organisation was "run on unrealistic and impractical approach."

"This Rail Budget is a budget with a difference. I have steered away from populism and focused on increasing revenue, harnessing new technology and safety and security," he said.

As regards the investments so far, he said, "We have received 79 last mile connectivity proposals, 22 private freight terminals, production units, sidings. In total Rs 15,000 crore worth commitments have been received in the recent past."

The Rail Budget 2014-15 was later passed by the House after a discussion during which Opposition members picked holes in his proposals.

Responding to the concerns of members of relying too much on FDI for development of railways, the Minister clarified that it will not be allowed in the core operation of railways.

He said foreign investment will be permitted only in big ticket projects like high speed corridor, dedicated freight corridor and suburban trains.

"FDI in railways is a positive signal to investors. It will be encouraged in railway infrastructure and not allowed in operation," he said.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • India’s festivals teach us to share our wealth and joy

    India is an aporia in its own true sense.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Zehra Naqvi

How smells evoke strong memories

Remember that time when a passing fragrance transported you to ...

Dharmendra Khandal

Indian zoos need a fresh approach

Recently, when a man jumped in a tiger trench of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture