Date of Post : 20 July, 2017
New Delhi: The World Bank will help the Indian Railways to draw up plan for Rs 5 lakh crore makeover, transforming the 164-year old network & making it a key contributor to the country’s growth.
The World Bank is looking to help the state transporter break away from its colonial-era setbacks through strategic planning, digitisation, technological development, establishing a Railway University & Rail Tariff Authority.
- Also, the World bank will provide advisory services & programme management consultancy for this transformation exercise that is estimated to take two – three years.
- A top Railway ministry official said in a report,”We needed this arrangement to build our capacity and deliver projects on a mission mode. World Bank’s expertise would be a great gain.”
- The bank has planned to create a body that will work on forecasting models, traffic optimization, among others.
- The official said,”Further, an infrastructure plan for the next 10-15 years, after a detailed analysis on freight and passenger growth expected in India, is also envisaged to be created. The bank would be drawing that up as well.”
- Railway Minister Suresh Prabhu’s ambitious investment of Rs 5 lakh crore for the Indian Railways in the next 4 years would see the Indian Railways spending Rs 1.31 lakh crore to augment capacity.
- Now, keeping in line with PM Narendra Modi’s Digital India Programme, the Railways will soon launch a ‘digital enterprise’ which the World Bank will play a key role in by integrating infrastructure & managing database.