Rs 30K cr plan to upgrade rail infrastructure
Administrative ministries seem to be waking up to the importance of public spending in keeping the Indian economy afloat in the current slowdown. With repeated emphasis being made by Prime Minister Manmohan Singh at least the Indian Railways has decided to act. Indian railways have drawn up plans worth Rs 30,000 crore towards the upgrade of rail infrastructure and procurement of new assets of to shore up the infrastructural development and upkeep. The largest public sector giant has announced more than thirty projects. Apart from acquiring assets in the form of new coaches, wagons and locomotives, the railways are in the process of setting up a Rs 5,000 crore power plant, creating 300 model stations and investing Rs 1,800 crore on modern signalling systems.
Labels: Indian Railways 2008