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Aiming at a major push for infrastructure, the railways will raise Rs 35,000 crore with World Market assistance to create a separate fund for investment in rail sector.
The proposed Railways of India Development Fund (RIDF) would be independent of rail budget and intended for all big ticket rail-based projects, including station redevelopment, rail expansion, port connectivity and freight terminal up gradation in PPP model.
The World Bank is understood to have given its in- principle approval for the creation of the fund and the railways will seek cabinet approval for setting up RIDF next month. Besides, the railways will also seek cabinet nod for going ahead with the Rs 17,000 crore speed enhancement project in Delhi-Mumbai and Delhi-Howrah sectors.
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