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India to invest $137bn in railway network

  • India will invest $137 billion in its railways in the next five years, the government announced on Thursday.

    The country’s Railway Minister, Suresh Prabhu said the huge investment will help modernize the rail network and launch faster trains. Passenger fares have been left unchanged. 

    The Indian railways carry around 23 million people every day.

    Prabhu has ruled out privatization of the railways, but said the network has to “undergo a transformation” with a focus on “safety, security and infrastructure”.

    Tagged as: India, railways, Suresh Prabhu, Indian rail network, passenger fares, Indian railways, railways budget, Indian economy, business news