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Govt to invest Rs 8.5 lakh cr in railways over 5 years

Freight rate hike to fetch Rs 4,000 cr; no increase in passenger fare

Agencies  |  New Delhi 

The government will increase investment in the Indian Railways to Rs 8.5 lakh crore over the next five years, Railway Minister Suresh Prabhu said in his budget speech on Thursday, promising to modernise existing tracks but shying away from raising passenger fares to fund the expansion. Presenting the railway budget, Prabhu said the government would “set the direction of a long and difficult road of reform”. Read our full coverage on Union Budget Freight rates for cement, coal, foodgrain & pulses, urea, kerosene and cooking gas were increased by up to 10 per cent, to mop ...

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First Published: Thu, February 26 2015. 14:20 IST