 "Rail Budget: No new trains or fare hike but railways is getting more investment")
India will increase investment in its overloaded railway network to Rs 8.5 lakh crore ($137 billion) over the next five years, the government said on Thursday, promising to modernise existing tracks and introduce faster trains. [caption id=“attachment_1958515” align=“alignleft” width=“380”]  Reuters[/caption] Railway minister Suresh Prabhu said the proportion of rail revenue available for investments would rise to 11.5 percent in the fiscal year starting on April 1, up from 8.2 percent in the current fiscal year. In a speech to parliament that outlined the annual railway budget, Prabhu did not lower or raise passenger fares, which are heavily subsidised and nor did he announce the introduction of any new trains. The government will however increase some freight rates in the 2015/16 fiscal year that begins in April, Prabhu said today. Agencies
India will increase investment in its overloaded railway network to Rs 8.5 lakh crore ($137 billion) over the next five years, the government said on Thursday, promising to modernise existing tracks and introduce faster trains.
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