Indian Railways which is the backbone of the $2 trillion Indian economy is effectively bankrupt. Now our very capacity Railways Minister, Shri Suresh Prabhu is pursuing innovative approach to raise $140 billion of investments both from India and FDI. Actions include the much sought for Green Bonds to fund eco-friendly projects, installing self-funding solar power systems, and funding from the Life Insurance Corporation (LIC). If all this works out, then Indian Railways could really become state-of-the-art and a bigger support to India’s growth. Global institutions such as World Bank, global banks have praised Indian Railways for these plans.
Source: Daily Pioneer
- 2 Dec 2015