Railway Minister is always seeking the best for the rail sector. Trying to bring in investment for this sector, the Railway Minister decided to talk to CEOs of business companies and commercial corporates in Mumbai to apprise them of the developing opportunities in India’s public transporter. The conference of senior railway officials with the founders and CEOs of FIs and other corporate was held on 7th August at the BSE Tower in Mumbai. The meeting uncovered substantial investment ideas for revolutionising and making the railway infrastructure stronger in the country. The Minister also met banks and financial institutions to get their heads up on the investment plans.
The reason the conference was held in Mumbai this time was to increase revelation and visibility to the investment plan of the Indian Railways. The IRFC (Indian Railways Finance Corporation), the financial intermediate for the Railways were a part of the conference too. Also, Minister of State for Finance Jayant Sinha and RBI Governor Raghuram Rajan had attended the meeting.
The Minister stated that he was looking for private sector investment too. He also added that private sectors would have to help in giving large funds. Public institutions like LIC have promised to contribute Rs. 1.5 trillion worth of RFC bonds or through economic support.
Suresh Prabhu is a likable, professional and committed Railway Minister. His plans for the rail sector are pushing all the right buttons. Our trains have TVs for entertainment, Wi-Fi at a lot of stations, a choice of meals, many ticket counters and AVM machines, escalators and much more. For all the ecologically conscious people, the Minister has plans in reducing transport of goods by road and instead increasing by rail, which saves 90% energy and 80% carbon emission from these vehicles.
Not just this but selected railway stations will switch to green solar power, which will be generated on site. This will be done using the ample land, which is available with government. Though the rates of railway tickets have increased than what they were before yet they are still affordable by middle and lower class.
The best part about the Railway Minister’s investment plan is that it is accurate and not just a talk over the moon which will not come in action. He is determined to bring in 8.5 trillion reserves in the next five years. With the way Suresh Prabhu is determined about improving and modernising the Indian Railways, we are sure that soon we will see more and more growth in the rail sector.