‘Railways needs Rs 3-trn yearly investment to meet country’s aspirations’

“If we won’t do it then we will never be able to cross subsidize passenger fare,” Ashwini Vaishnaw said

Topics


Indian Railways | Ashwini Vaishnaw

The Railways will need to target a revenue of Rs 3.5 lakh crore and an investment of Rs 3-lakh crore every year to meet the country’s aspirations, the government told Rajya Sabha Thursday.

During a discussion on the working of the ministry, Railway Minister Ashwini Vaishnaw attacked opposition members and past governments, alleging they only talked about vision and preparing concept notes, but did not taking any action to implement them.

The minister said that to meet the aspirations of the country, its citizens and the future generation over next 10 years, the Railways will have to target to ferry 1,000 crore passengers every year from about 800 crore currently, and increasing the cargo load from 140 crore tonne to 300 crore tonne.

“If we won’t do it then we will never be able to cross subsidize passenger fare,” he said.

“For this, we will have to increase cargo 2-2.5 times. Not freight charge, (but) volume. We will have to reach a revenue of Rs 3.5-lakh crore and invest Rs 3-lakh crore every year. Then only we will be able to meet the aspirations of this country,” he said.

The minister also alleged that past governments lacked the clarity of vision, but Prime Minister Narendra Modi made a clear decision that the Railways needs to move away from diesel and go for electrification.

“Good that you gave a concept but what work did you do? It’s good that you gave a vision document. It’s good that you gave the concept but will the country work on the concept? You will have to show the work,” he said, referring to the freight corridor project.

He said that the concept note for the corridor came in 2004, the foundation station was laid in 2006, but not a kilometre of the project was commissioned under the previous government.

“How many kilometres were commissioned? Zero. Only Zero. This was the condition. Today how many kilometers have been commissioned? 1,010 kilometres,” Vaishnaw said.

He said that a “policy paralysis” situation existed in the entire country under the previous regime and the Railway was affected as well.

“I don’t want to snatch your credit. You have a lot of things to your credit. 2G, coal, commonwealth. We don’t want any of your credit. These statistics are before you,” Vaishnaw said.

Agitated by Vaishnaw’s remarks, Leader of Opposition Mallikarjun Kharge interrupted his speech briefly.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.


We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor