Railways project 20% hike in plan outlay

The Indian Railway is projecting a nearly 20 per cent increase in its annual plan outlay. It plans to spend about Rs 14,192 crore during 2006-07 as against Rs 11,827 crore during the current year.

It would also come out with a 15-year plan instead of the usual five year plan to ensure that targets are set keeping the long-term perspective in mind.

"Taking lessons from China that has a long-term mission for 2005-15, we also would come out with such a document by the year-end," Geeta Thoopal, Additional Member (Finance) said at the World Bank conference on "Current Initiatives in Railway Management in India and China."

China has planned a $250 billion investment over the next 15 years, which is proposed to be financed through internal generation and private sector investment.