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Massive investment of $120 billion in next 5 years, Indian Railways

News:

  • An investment of USD 120 billion will be made in next five years in the cash-strapped railways which is in the process of upgradation and expansion.
  • Requiring huge resources, the government has already decided to allow FDI in certain segments of the railways, like coach manufacturing, station development, suburban rail and high speed network.
  • The malaise of ticketless travelling in trains which is a major problem that causes substantial losses to the national transporter, mostly in local and suburban trains.
  • Youngsters have been told to find solution to this problem. In order to encourage innovative solutions, Railways will announce awards for the best idea put forward.
  • Railways will come out with a new website to promote technology solution in Rail services.

Source: ET

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