New Delhi: Several sanctioned railway projects will be delayed due to lack of funds, Railway Minister Dinesh Trivedi said on Friday, projecting an investment requirement of Rs 14 lakh crore by 2020 for modernisation and expansion.
Trivedi said this in Lok Sabha today as he sought and got approval for a meagre amount of Rs one lakh in the Supplementary Demands for Grants for 2011-12 after a debate spread over several hours on Tuesday.
"We have come to Parliament with Supplementary Demands for
Grants of Rs one lakh. This is only a technical demand as
mainly some new safety related projects have to be taken up
and parliamentary approval is required," he said in a speech
which was laid in the House due to uproar created by the
Opposition on various issues.
The grants and the Appropriation (Railways) Bill were
passed in the din by voice vote.
Trivedi said the railways would need "a huge investment"
of around Rs 14 lakh crore by 2020 for new projects, besides
the requirement of modernisation, infrastructure expansion and
passenger amenities.
The Railways "faces huge financial constraints. There is a
limitation of the rail system to generate ample resources for
expansion and upgradation", he said.
Noting that the backlog in completion of sanctioned
projects and new lines alone would require over Rs one lakh
crore, Trivedi said, "For want of adequate gross budgetary
support, these projects are suffering and completion will get
unduly delayed.
"The situation has been compounded by the reduction in the
internal resource generation capacity of the Railways due to
implementation of the 6th Pay Commission".
PTI
First Published: Friday, December 16, 2011, 15:11