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    Government spends huge amounts to modernize rail infrastructure: Suresh Prabhu

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    The central government is spending huge amounts to modernize infrastructure, particularly in the railways sector to push growth, Railways Minister, Suresh Prabhu said. He said the government will invest more in railways this year as compared to the previous years. Railways used to put Rs 30,000- Rs 40,000 crore in a year into railway infrastructure. However, this government has invested almost Rs 3 lakh crore in the span of two-and-half years.  These investments are in addition to whatever the ministry allocates out of the budget and by giving contracts to different agencies, the minister said.  He said these huge investments in infrastructure and the new indirect tax regime Goods and Services Tax (GST) would help in spurring the economic growth of the country. Talking about opportunities in Andhra Pradesh, the minister said the state has all the ingredients, including mineral resources, power and water to attract both global and domestic investors. If all states grow at higher rates, India will grow at 10 per cent, he added.

    Source: economictimes.indiatimes.com

    Image source: Railway Pro

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