Railways funds situation too close for comfort: Prabhu

Prabhu said that Railways cannot be privatised like road sector or aviation sector.

By: Express News Service | New Delhi | Published: December 13, 2014 3:48 am

Railway Minister Suresh Prabhu on Friday described the national transporter’s financial situation as “too close for comfort” during the Agenda Aaj Tak programme. “There is no fund for big investment. There is a requirement of Rs 6 lakh crore to Rs 8 lakh crore for completion of announced projects,” he said.

When asked if passenger fares would be raised, he said, “Passenger service should be improved before increasing the fares. Safety cannot be compromised. There is a need for big investment. Some burden has to be shared by people.”

Talking about people’s expectations from Railways, Prabhu said wishlists presented by MPs alone would cost the transporter “about Rs 20,000 crore”.
He made it clear that railways cannot be privatised on the  pattern of other sectors like road and aviation. “Outcomes are important. Railways cannot be privatised like road sector or aviation sector,” he said, adding that there were areas where a PPP has been employed.

“We have allowed 110 per cent FDI in rail sector,” the minister said.

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  1. B
    Dec 13, 2014 at 6:54 am
    He is going to sell the railways lock stock and barrel!!The media and the opposition is focussed on gaining votes/clicks by attending to silly bloated issues.Some years back it was argued that introduction of private buses will help consumers.But now people are fed with the services they offer.The rail privatisation will be even worse.Wake up and keep the government on track.