New Delhi(PTI): Railway Ministry Suresh Prabhu said Saturday that private fundings would be attracted to…
New Delhi(PTI): Drawing a comparison between the railway systems of India and China, Railway Minister Suresh Prabhu on Friday said not enough investment has been made in the railways in the country in the last 40 years.
“Railways are the backbone of India’s economy and therefore we have decided to launch a major programme to revamp the railway network. In the last thirty, forty years we have not invested enough into the railways….” Prabhu said.
Mentioning about a study published recently, he said, “in 1990 China’s railway network was smaller or equal to India. In the last 25 years China has overtaken India significantly.”
China’s growth as economic power, as one among the largest exporters and manufacturers of the world, has been possible due to its strong railways network facilitated by the country’s investment in the sector, he added.
Noting steps taken by him to make railways commercially viable, Prabhu said “…I’am very sure we can add two to three per cent to India’s GDP only by making railways work proper.”
“We cannot make railways work proper unless we make investment in the railways…,” he added.
The central government had earlier said Rs 8.5 lakh crore will be invested in Railways over a period of five years.
Prabhu was speaking after inaugurating a new station building here, built at a cost of Rs 5.5 crore and various other railway projects elsewhere.