This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/world-asia-india-28205736

The article has changed 3 times. There is an RSS feed of changes available.

Version 1 Version 2
India to unveil new railway budget India railway budget seeks foreign investment to modernise
(about 3 hours later)
India's new government is expected to recommend a bigger private sector role in modernising the country's ailing railways, in its first railway budget. India's new rail minister has proposed allowing foreign investment and more private participation to modernise the country's ailing railways network.
Last month, the government raised passenger fares because it said the network was facing a loss. Sadananda Gowda also announced a network of high-speed bullet trains in the railway budget unveiled on Tuesday.
The state-run railway runs more than 12,000 trains, carrying some 23 million passengers daily. It remains the preferred transport for most Indians. Last month, the government raised passenger fares saying the network was facing a loss.
The state-run railways runs more than 12,000 trains, carrying some 23 million passengers daily.
It is also one of the world's largest employers, with 1.3 million workers.It is also one of the world's largest employers, with 1.3 million workers.
Prime Minister Narendra Modi said last week that he hoped for more private sector money. But correspondents say that after decades of neglect, low investment and populist policies to subsidise fares, India's busy railway network is in a shambles.
"We want the railway stations to have better facilities than airports. This is our dream," said Mr Modi. Prime Minister Narendra Modi has said that revamping the railways is a priority for his government and that he wants the "railway stations to have better facilities than airports".
He promised "change in the near future" and said "private parties would also be ready to invest because this is a good project economically and will benefit everyone". "I can get many claps from this house by announcing many new projects, but that would be rendering injustice to the struggling organisation," Mr Gowda said while unveiling his railway budget in the parliament on Tuesday.
Correspondents say that after decades of neglect, India's busy railway network is in a shambles. Saying that the "challenges of tomorrow cannot be met by the tools of yesterday", the minister said that foreign direct investment (FDI) and public-private partnerships would be sought in all areas, except for passenger operations.
Last month the government announced a 14.2% increase in passenger fares and a 6.5% raise in freight rates to improve facilities and recover losses. "We need to explore alternative sources of funding," Mr Gowda added.
The minister also promised faster trains, recruiting 4,000 women constables to provide better safety for women passengers, and improved cleanliness on trains.
The first bullet train, Mr Gowda said, would run between India's financial capital, Mumbai and Ahmedabad city in Gujarat.
The over-stretched, loss-making railway network has been facing a plethora of problems and last month, the government announced a 14.2% increase in passenger fares and a 6.5% raise in freight rates to improve facilities and recover losses.
But there was a partial rollback on some increases on shorter trips following protests, even though Finance Minister Arun Jaitley said the government had "taken a difficult but a correct decision".But there was a partial rollback on some increases on shorter trips following protests, even though Finance Minister Arun Jaitley said the government had "taken a difficult but a correct decision".