5L cr needed to complete rail projects
The Railways is looking at mobilising additional resources, including private investment, FDI and public-private partnership in a bid to generate around 5 lakh crore to complete all sanctioned projects. Union Railway Minister DV
Sadananda Gowda said that he had refrained from announcing new projects in his Railway Budget speech as various projects announced by the previous government were still pending. There are currently 362 major ongoing railway projects across the country requiring 1.82 lakh crore. However, the overall availability of funds is limited.
"As such, it is not possible to allocate adequate funds to the projects on a regular basis, which is a prerequisite to fix timelines and schedules," he said.
According to Gowda, the progress and targets of projects also get impacted due to delays in land acquisition, forestry clearances and law and order problems.