The World Bank is planning to draw a blueprint for the makeover of the Indian Railways which is about to invest INR 5 lakh crore for the project. Indian Railways is planning to transform itself from a colonial-era mass transporter to a more strategic, state-of-the-art platform.
What’s More
As per the plan, railroad network will partner with the multilateral agency to help the state transporter with the planning and investment along with digitisation and technology development. Besides these steps, it will also aid in establishing a Railway University and the Rail Tariff Authority.
The bank will offer programme management consultancy and advisory services to the railways for this initiative. The planning blueprint will include setting up an organization to create traffic optimization, detailed forecasting models and next level planning for betterment of the railway functionalities which in turn will help the passengers.
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We needed this arrangement to build our capacity and deliver projects on a mission mode. World Bank’s expertise would be a great gain,” a top rail ministry official said.
The Rail Minister, Mr. Suresh Prabhu has a plan for transforming Railways over the next 4 years with an investment of around INR 5 lakh crore.
