Suresh Prabhu at the silver jubilee celebration of Symbiosis Institute of International Business. (Express Photo)
THE Indian Railways will be completely transformed in the next five years, Union Railway Minister Suresh Prabhu said on Sunday, adding that there’s enough budget allocation to implement the plan. Prabhu was speaking at the silver jubilee celebration of the Symbiosis International University’s Symbiosis Institute of International Business (SIB).
Dr SB Mujumdar, founder and president of the university, Dr Vidya Yervadekar, principal director and Director Dr Asmita Chitnis were also present.
“Rail network has seen tremendous development in Japan and China. They invested huge money and have strengthened the rail system. We too are now working towards it. What I feel is that the railways in India will see a complete transformation,” said Prabhu.
He added that the Railways is aiming to achieve the goal of starting services that will ply at 200 kilometers per hour speed on the Mumbai-Delhi and Delhi-Kolkata routes.
“Countries like Japan and China invested huge amounts before it could achieve its current position in railways. In comparison to that we’re behind. Attempts are now being made to set up infrastructure for the development of railway in the country. There is a huge financial provision for this. Railway budget will be increased to Rs 2,75, 000 crore in the coming years. After this, the financial provision for the development of the railway sector will be increased to Rs 8,70,000 crore” said Prabhu.
He added, “Doing business in a unipolar world changed after liberalisation. Trade blocks emerging now could again change scenario. World is changing fast, managing the unknown will be the real challenge.”
