Monday, 30 January 2017

Government spending huge amount to modernise railways

The Rail Minister has said that the central government is spending huge amounts to modernise infrastructure, particularly in the railways sector to push growth. Commenting on the issue, Railways Minister Suresh Prabhu told the media, “The government will invest more in railways this year as compared to the previous year's.” "Railways used to put Rs 30,000- Rs 40,000 crore in a year into railway infrastructure. 

We increase the investment to Rs 1 lakh crore. Last year, it was Rs 1.21 lakh crore and this year, it will be definitely higher almost Rs 3 lakh crore has been invested in the span of two-and-half years," he said. “These investments are in addition to whatever the ministry allocates out of the budget and by giving contracts to different agencies,” the minister added. He further said these huge investments in infrastructure and the new indirect tax regime Goods and Services Tax (GST) would help in spurring the economic growth of the country.

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