"Indian Railways will invest $140 billion in the next five years. We have invested Rs 94,000 crore and additionally we have decided to issue contract of Rs 40,000 crore for locomotives," Prabhu said at an event organised by MCC Chamber of Commerce and Industry.
Civil aviation minister Ashok Gajapathi Raju said restricting the air fares will not make good business sense as it could also jeopardise the government's regional connectivity plan as such a move may discourage airlines to fly on non-profitable routes.
Stressing on the need for private investment to pick up for faster economic growth, RBI Governor Raghuram Rajan Wednesday said there is "work to do" before celebrating though the economy is moving in right direction.
Seeking to explore the possibility of making mandatory catering services optional on trains, Railways on Wednesday announced to undertake the scheme on Nizamuddin-Mumbai August Kranti Rajdhani Express and Pune-Secunderabad Shatabdi Express.