Development of new railways infrastructure in the country will require the investment of Rs 50 lakh crore between now and 2030, Finance Minister Nirmala Sitharaman, who is currently delivering her first budget speech, has said.
According to the finance minister, the Public-Private Partnership (PPP) model will be used to bring in new rail infrastructure, including rolling stock. The Financial Express reported that this may lead to the manufacturing of trains by the private sector.
Sitharaman said the government is promoting the development of inland waterways to reduce the pressure on railways. She also pointed to the construction of dedicated freight corridors to free the existing rail lines for passenger trains.
The first full-time woman finance minister also said that a large scale stations modernisation programme will also be launched this year.