Rail Budget 2016: Indian railways to target freight business revival, says Suresh Prabhu

He announced three new dedicated freight corridors across the country

India's state-owned railways is reviewing the tariff structure for its freight business and wants to expand the basket of commodities it transports to boost revenues, Railway Minister Suresh Prabhu said on Thursday.

Presenting the annual Rail Budget for 2016-17, Prabhu said the freight business which provides two-thirds of Indian railways' revenues was struggling as capacity constraints bite and industrial demand slows.

"These are challenging times, maybe the toughest," he told Parliament, announcing plans for three new dedicated freight corridors across the country.

"We need to look beyond the current approach to expand the basket (of commodities). We will make sure we recapture the traffic," said Prabhu