Modi to target Rs.5 Lakh Cr Investment in Rlys to complete all sanctioned projects by 2019

Modi to target Rs.5 Lakh Cr Investment in Rlys to complete all sanctioned projects by 2019

New Delhi: The Narendra Modi sarkar is keen to attract investments in Railways by mobilising several additional and alternative resources, including private investment, FDI and public-private partnership and new initiatives (example: IRCTC’s Online eCommerce initiatives) in a bid to generate around INR 5 Lakh crore to complete all sanctioned projects before 2019.

Government, accordingly to D.V.Sadananda Gowda, the Railway Minister had only refrained from announcing any new projects in his Railway Budget speech as various projects announced by the previous government were still pending and hence there is no point in looking at new projects when the already sanctioned/announced ones are still pending, in which case, however, the overall availability of funds is limited.

Gowda said that “As such, it is not possible to allocate adequate funds to the projects on a regular basis, which is a prerequisite to fix timelines and schedules.”  However the Government is ambitious of meeting the deadline to complete all the sanctioned projects in hand by 2019.

Of the 362 new lines, gauge conversion and doubling projects, 113 have been included in the Railway Budgets during FY12, FY13 and FY14.

The progress and targets of the projects also get adversely impacted due to delays in land acquisition, forestry clearances and law and order problems, according to Sadananda Gowda.

However he reiterated the confidence in Government’s stand to complete all the projects within the possible deadline of 2019 fixed by Narendra Modi.