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.