- With a focus on long-term growth of India, Railway Minister said that his ministry is looking at $500 billion investment in Railways in the next 10-12 years.
- The focus is on increasing capacity and modernising railways, because of earlier low investments in this sector the cargo and passenger traffic had suffered.
- Prabhu also cited the advantages of Cabinet giving its approval for the revised cost estimate of Rs 81,459 crore for the Eastern and Western Dedicated Freight Corridor (DFC) Project.
- DFC will increase Rail revenues, add speed to goods movement, reduce congestion and passenger trains will run at increased speed, punctuality.
- The Cabinet on Wednesday gave its approval for the revised cost estimate of DFC Project, including land costs and financing plan.
- The revised cost estimate comprises construction cost of Rs 73,392 crore of the Eastern and Western DFC with a land acquisition cost of Rs 8,067 crore.