Indian Railways modernisation to cost over Rs 14 lakh cr in 10 yrs: Assocham

Modernisation of the Indian Railways is likely to cost more than Rs 14 lakh crore over the next 10 years, an industry body has said.

“Indian Railways requires modernisation which would cost more than Rs 14 lakh crore over the next ten years, so that it could have an extensive network to cover the entire country,” Assocham said.

Besides, there should be an emphasis on developing entrepreneurial and managerial skills, it said.

Indian Railways, which is the third largest rail network in the world, employs 14 lakh employees, it added.

“The rail lines measure up to 64,015 kilometres, up from 53,596 kilometres in 1947,” Assocham said.

The chamber said that there was a need to increase the government spending on rail network in the country.

Both developed and developing countries are spending hundreds of billion of dollars each year to add more rail lines. China is spending $ 300 billion (about Rs 14 lakh crore) over the next three years to expand and modernise its rail network, the chamber said.

http://articles.economictimes.indiatimes.com/2011-08-17/news/29896717_1_rail-network-indian-railways-rail-lines

Published in: on August 18, 2011 at 4:48 pm  Leave a Comment  
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