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Govt to embark on rail investment splurge thanks to cheap oil

Railways to get at least 25% boost in investment to over $9 billion

Reuters  |  New Delhi 

The decrepit state-run train services stand to receive at least a 25% boost in investment to over $9 billion, funded solely by falling fuel costs, according to officials familiar with a railway budget set to be unveiled on Thursday. The world's fourth largest rail network could get even more if Prime Minister Narendra Modi makes it a priority, as China did during its rapid economic growth over the past two decades. Read our full coverage on Union Budget There are high hopes that his nine-month-old government will plough money into investment in infrastructure needed to ...

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First Published: Wed, February 25 2015. 13:12 IST