Railways to set up task force to fastrack pvt investments

Admitting that private players face problems while investing in railway projects, the government today said it would set up a task force to clear such proposals within 100 days.

"Sometimes they (business community) have problems. They are keen to invest, but their proposals are unduly delayed by a 'typical negative approach'," Railway Minister Mamta Banerjee said while presenting Railways Budget.

Banerjee said the Railways need to develop a business culture to attract private investment and the matter would be discuss at the highest level.

"I will discuss with the Prime Minister, the Finance Ministry and Planning Commission regarding early clearance of projects," she said.

The Minister announced "a special task force to clear proposals for investments within 100 days".

She further said there is a need to develop new business models and invite domestic investment through public-private- partnership mode in areas like new lines, world class stations, auto hubs and high speed train corridors.

Banerjee said domestic investors have tremendous scope in Railways and that "will be our hope in the future".

She, however clarified: "I would like to assure my Railway family that we are not going for privatisation of the Railways. It will remain a government organisation."