Indian railways given $137bn boost in budget, India's government has announced plans to invest $137bn (£88bn) in its ageing railway network over the next five years.
Unveiling the annual railway budget, Railway Minister Suresh Prabhu said the cash boost will help modernise existing tracks and introduce faster trains.
Mr Prabhu left the heavily subsidised passenger fares unchanged.
The state-run railways operate more than 12,000 trains, carrying some 23 million passengers daily.
But decades of neglect, low investment and subsidised fares have left the network in a shambles.
The fall in the price of diesel that powers most Indian trains and a pick-up in freight earnings has made funds available for investment, officials say............Read More
Unveiling the annual railway budget, Railway Minister Suresh Prabhu said the cash boost will help modernise existing tracks and introduce faster trains.
Mr Prabhu left the heavily subsidised passenger fares unchanged.
The state-run railways operate more than 12,000 trains, carrying some 23 million passengers daily.
But decades of neglect, low investment and subsidised fares have left the network in a shambles.
The fall in the price of diesel that powers most Indian trains and a pick-up in freight earnings has made funds available for investment, officials say............Read More
