Railways' allocation increased to Rs.29,000 crore

Finance Minister P. Chidambram Monday increased the budgetary support to the railways from Rs.26,000 crore to RS.29,000 crore in the interim budget for 2014-15.

In his interim budget speech for 2014-15 presented to the Lok Sabha, Chidambaram said the government has to identify new instruments and new mechanisms to raise funds for railway projects.

He added that the railways need to mobilise huge resources through market borrowing and private public partnership (PPP) schemes.