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Railway's five-point execution strategy

Railway's five-point execution strategy

India Blooms News Service | | 26 Feb 2015, 04:01 pm
New Delhi, Feb 26(IBNS) Railway Minister Suresh Prabhakar Prabhu has said the goals of transforming Indian Railways will be achieved with a five point execution strategy.

While presenting the Railway Budget 2015-16 in parliament on Thursday, Prabhu said the strategies the Railways proposes are adopting a medium-term perspective, building partnerships, leveraging additional resources, revamping management practices and retooling of human resources and setting standards for governance and transparency.

To meet the midium-term goals the budget proposes a five year action plan involving a total investment of Rs. 8,56,020 crore that envisages various aspects of improvement including network decogestion and expansion, safety measures and passenger amenities.

As for building partnerships, the budget speaks about the requirement of partnering  with key stakeholders: States, PSU’s, partner with multilateral and bi-lateral organizations and  other governments to gain access to long term financing and technology from overseas, the private sector to improve last mile connectivity, expand fleet of rolling stock and modernize our station infrastructure.

Prabhu, in his budget also envisaged an  investment of Rs. 8.5 lakh crore in next five years to be mobilized from multiple sources to cater to funding i.e multilateral development banks, pension funds.