Nirmala Sitharaman for public private partnership in railways

Union Finance Minister Nirmala Sitharaman on Friday stressed that the railways need an investment of Rs 50 lakh crore from 2018 to 2030 and proposed public private partnership to unleash faster development of passenger and freight services.

Presenting the Union Budget in Parliament, Sitharaman said: "It is estimated that railway infrastructure would need an investment of Rs 50 lakh crore between 2018 to 2030.

"Given that the capital expenditure outlays of railways is between Rs 1.5 to 1.6 lakh crore per annum, completing even all sanctioned projects would take decades.

"It is therefore proposed to use public private partnership to unleash faster development and completion of tracks and rolling stock manufacture and also delivery of passenger freight services," she said.