BackRailways needs massive investment, says Suresh Prabhu
Suresh Prabhu says Indian Railways is losing traffic because of the lack of investment
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New Delhi: Railway Minister Suresh Prabhu on Tuesday said the need of the hour for the public transporter is massive investment and new technology without which it will not go any further.
“There is a need for investment in the railways. In China the investment on the railways is about ₹ 9 to 10 lakh crore whereas here (in India) ₹ 40,000 crore a year," Prabhu said after inaugurating the Late Comrade Umraomal Purohit Memorial Research Centre.
He said the railways is losing traffic because of the lack of investment. “As a result rail traffic was going to other sectors. So we decided for investment in the railways and investment will go up in the coming years."
Comparing Indian Railways with Amtrak, a US railroad service, Prabhu said: “According to a report, Amtrak was derailed because of the lack of investment. We should learn from Amtrak. They did not invest in so its future was doomed."
Emphasising on the investment, he further said, “According to a research report, Indian Railways was also suffering because of the lack of investment like what happened to Amtrak. There is a need for investment in railways."
Highting the importance of technology in rail operation, Prabhu said, “Beside infrastructure, new technology should also come. The world’s best technology should come. But we should not always import technology. We should have research and development centre for the development of technology."
As far as raising passenger fares and freight rates is concerned, he said, “We are setting up regulatory body to decide on it."
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