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Public-private partnership to be unleashed to develop rail infrastructure: Nirmala Sitharaman

The Finance Minister said that 657 km of the metro rail network has become operational across the country while railway infrastructure will need Rs 50 lakh crore investment till 2030.

Published: 05th July 2019 12:06 PM  |   Last Updated: 05th July 2019 12:06 PM   |  A+A-

indian railways

For representational purposes

By PTI

NEW DELHI: Finance Minister Nirmala Sitharaman on Friday said corporate India is a job creator as well as a wealth creator and called for a public-private partnership to develop rail infrastructure.

Presenting the first Budget of the Modi 2.0 government, Sitharaman said that 657 km of the metro rail network has become operational across the country while railway infrastructure will need Rs 50 lakh crore investment till 2030.

Saying that schemes such as Bharat Mala, Sagarmala and UDAN (Ude Desh Ka Aam Nagrik) are bridging rural-urban divide and improving transport infrastructure, she said, "Public-private partnership is to be unleashed to develop rail infrastructure".

The finance minister said as the world's third largest aviation market, time is ripe to enter aircraft financing and leasing from Indian shores.

She further noted that last mile delivery stood out and asserted that the government's objective has been and continues to be "Mazboot desh ke liye mazboot nagarik". "The target of USD 5 trillion economies in next few years is imminently achievable," she noted.

"We have shown by our deeds that principles of 'perform, reform, transform' can indeed succeed," she said adding that the NDA government in its first term had set the ball rolling for a 'New India' with strident commitment to fiscal consolidation.

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