Indian Railways will spend the entire Rs 1.21 lakh crore allocated expenditure for this fiscal year said Minister of State for Railways Manoj Sinha.
"This year Rs 1.21 lakh crore has been earmarked and I believe this year 100 per cent of it will be spent. Last time Railway was not ready because there was sudden large scale investment. Railway officers were not prepared," Sinha said at an event.
He said average investment in Railways during the last five years had been to the tune of about Rs 46,000 crore, which was increased to Rs 1 lakh crore last year, out of which Rs 94,000 crore was spent.
"LIC, for the first time, gave Rs 1.5 lakh crore for investment. We are working on overnight journey trains so that Delhi-Kolkata and Delhi-Mumbai can be covered overnight," he said.
“Currently the coaches are being designed to suit overnight journey,” He said. Adding more to it, he said the government's investment in infrastructure has spurred growth in the economy.
"For development of stations, we are talking to World Bank and some Japanese entities that come to us for discussion," Sinha said. He said there had been corruption in the processes earlier, which are being rectified now.