Centre to invest Rs. 8.5 lakh crore to develop Indian Railways

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Updated: June 09, 2015 1:52 PM

Union Railway Minister Suresh Prabhu has said that the Government will invest Rs. 8.5 lakh crores over the next five years to develop the nation's railway services.

Indian railwaysUnion Railway Minister Suresh Prabhu has said that the government will invest Rs. 8.5 lakh crore over the next five years to develop the Indian Railways services. (Reuters)

Union Railway Minister Suresh Prabhu has said that the government will invest Rs. 8.5 lakh crore over the next five years to develop the Indian Railways services.

Speaking at a programme in Indian Institute of Technology (IIT)-Banaras Hindu University here on Monday, Prabhu said that the lack of funds will not come in the way for developing the railways, as it was a firm determination of Prime Minister Narendra Modi to raise the performance of the railways to global standards.

A Memorandum of Understanding (MoU) for a joint research on material and engineering was also signed between IIT-BHU and Railways.

Prabhu further stressed on the need the recycle the waste in railways, saying that it would benefit the country in the long run.

He also said that a railways is going to be the biggest machinery behind the development of the country.

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