The World Bank will aid Indian Railways in chalking out a strategic framework for transforming itself into an effective platform.
The Indian railways which have been conceptualized as a mass transporter is toying with the idea to facelift its framework with the aid of World Bank.
The 164-year old Indian Railways has allocated a sum of Rs 5 lakh crore for this purpose. The Indian Railways is planning to establish a Railway University and the Rail Tariff Authority.
Not only this, it also aims at helping states with investment, digitization, technology partnering including other aspects. “We needed this arrangement to build our capacity and deliver projects on a mission mode. World Bank’s expertise would be a great gain,” an Indian rail ministry official said.
The transformational change of Indian railways has been planned and curated by Suresh Prabhu who has devised a massive plan. The plan is expected to become reality within 4 years.
Additionally, the Indian Railways will have an access to a proper framework which will enable detailed forecasting models, traffic optimisation, and planning. The framework will be developed by World Bank. The government will spend a sum of Rs 1.31 lakh crore to augment capacity.
Under the inspirational leadership of CM Raje, we can expect the country to tread on a developmental crusade. From building bridges and National Highways to implementing a streamlined taxation framework named GST, to wiping out black money from the economy, the Modi-led government has become a benison for a country like India.
