Rlys need Rs 5 lakh crore to complete sanctioned projects
New Delhi: Railways need nearly Rs 5 lakh crore to complete all sanctioned projects for which it is mobilising additional resources including private investment, FDI and private-public partnership.
Railways Minister D V Sadananda Gowda told the Lok Sabha today that keeping in mind the various pending projects announced by previous governments, he had refrained from announcing new projects in his Railway Budget speech.
At present, there are 362 major ongoing railway projects across the country having a throwforward of Rs 1.82 lakh crore.
He said 113 out of the 362 new line, gauge conversion and doubling projects have been included in railway budgets during 2011-12, 2012-13 and 2013-14.
Responding to supplementaries, the Minister said Railways have a huge throw forward of ongoing projects and a limited overall availability of funds.
"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.
He said the progress and targets of the projects are also adversely impacted due to delay in land acquisition and forestry clearances and law and order problems.
The Minister pointed out that various projects were announced by his predecessors but would not take off as no funds were ever allocated for them.
More from India
More from World
More from Sports
More from Entertaiment
- Munich attack: 18-year-old German-Iranian gunman kills 9 at shopping mall
- DNA: Why are politicians and media ignoring the patriotic residents of Gurez Valley?
- DNA: Why are politicians and media ignoring the patriotic residents of Gurez Valley? Part II
- DNA: Why are politicians and media ignoring the patriotic residents of Gurez Valley? Part III
- DNA: Analyzing the real problems of patriotic Kashmir's residents
- Turkey will adhere to democratic principles, rule of law: Deputy PM
- Hallmark, ISI Mark, BEE Label –Know which certification marks are important for products you buy
- Sonam Kapoor in awe of Anamika Khanna, stuns in beige drape- Pic you cannot miss!
- WATCH: INCREDIBLE! When The Great Khali crushed two opponents in under a minute!
- Microsoft improves OneDrive photos, adds 'Pokemon Go' detector