Train service in India, simply set to be announced on Thursday, according to officials familiar with the budget railroad, receive at least 25% of the increase in investment funds to supply more than $ 9,000 million decreased fuel costs bear to be.
If the prime minister Narendra Modi was priority, China is the world's fourth largest railway network as during the rapid economic growth of the last 20 years, you can get even more.
He has waited as soon plow the money to invest in the necessary for the government of his nine months economy infrastructure carry routine when it introduced its first annual federal budget on Saturday.
Budget independent rail - the country of the UK's colonial past relics - India Modi was able to show how far they are willing to promote investment in the sector of major transport.
Collection of decadence and payload "price of diesel has a golden opportunity to increase investment for us," said a government official.
Although falling oil prices have saved several billion dollars of subsidies to the entire economy, Finance Minister Arun Jaitley is the target of 3.6% of GDP to explode under pressure with avoid budget deficits.
Railway Minister dropout Shupura Boo, officials, began in April 1 120-2015 savings of 16 minutes between the 150 billion rupees ($ 1.9 to 24 billion), cheaper than the total diesel have been woven in.
However, it has also asked the Ministry of Finance to about 25 million extra passengers 200 crore to invest in track and modernization of rail vehicles for the network you are using every day (3.2 million) .
Parts 1 informed discussion of the budget, regardless expect a substantial increase in federal funding for the railroad, that is, there is little that you get that many.
In 2014/15, Rs 454.5 billion ($ 7.30 billion) was the budget for investment in rail - the government will provide 66%, while the rest will come from internal resources.
Modi government last year, after we have proposed a public-private partnership of the new route, increased budget allocation, which somehow offset the disappointment at the lack of interest from the private sector to invest in train.
As always in India, lawmakers made the call populist bonanza by strongly reducing costs and diesel to be used to significantly reduce the grant rate. But Prabhu rarely able to pay attention to much.
"There are no plans to reduce the rate of passengers, but" government officials told Reuters.
At the same time, cargo revenues are expected to increase as the economy improves. The load is heavy road transport more expensive things, grant the passenger in India.
Provides 1.3 million jobs, the railway is one major employer in India, reform is politically sensitive. Government happens to favor instead of using the system to provide cheap transport work, backed away from modernization.
Year of the lack of investment, however, the service is slow, I mean that is bothering to frequent accidents.
About 1800000000000 and Indian rupees ($ 28,910,000,000) need slope over 300 projects, but government officials said. However, the burden of increased wage laws proposed and pensions, investment, compared to 25 percent seven years ago, was reduced to less than 8% of the estimated revenue of 1.61 trillion rupees in the current fiscal year.
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