Railways to push for Rs 350 billion fund for infrastructure building

Aiming at a major push for infrastructure, Indian Railways will raise Rs 350 billion with World Bank assistance to create a separate fund for investment in the rail sector. The proposed Railways of India Development Fund will be independent of the rail budget and is intended for all big-ticket rail-based projects, including station redevelopment, rail expansion, port connectivity and freight terminal upgradation. The World Bank has given in-principle approval for the creation of the fund.