Saturday, July 20, 2013

Railways to seek more funds for execution of rail projects

'More funds are required to complete many rail projects in the country. We will seek approach Finance Ministry for the additional funds,' Railway Minister Mallikarjun Kharge





Cash-strapped will seek more funds from the for implementing several rail projects in the country.

'More funds are required to complete many rail projects in the country. We will seek approach Finance Ministry for the additional funds,' Railway Minister Mallikarjun Kharge said here today.

He said there is a need for massive funds to execute many new line projects.

'The requirement is Rs 1.78 lakh crore for laying 17,000 km new lines,' he said, adding, 'If the project gets delayed then cost escalates.'

While a plan investment of Rs 63,363 crore is proposed for the current fiscal, Railways has got the budgetary support of Rs 26,000 crore in the current fiscal in the Rail Budget.

Referring to projects in the northeast, Kharge said there are total 10 national rail projects in the region and the requirement is around Rs 600 to Rs 700 crore.

The Prime Minister was kind enough to meet our demands and agreed to provide Rs 400 crore as additional funds to expedite three projects including Bogibeel Bridge and Lumding-Silchar broad gauge line in the northeast, he said.

He said there are demands for more trains, more rail lines from every state. 'Whatever we could do we will do.'

About the rail projects in his home turf Karnataka, Kharge said some projects are being undertaken with equal partnership with the state government.

'Karnataka government has agreed to provide land and share half of the project cost. But we have to receive Rs 445 crore from the state as sharing cost of a few rail projects. Unless we receive that amount we cannot proceed further,' he said.

Some others states like Maharashtra and Andhra Pradesh have also shown interest in sharing half of the project cost, he said.

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