Railways to invest $150 billion, create 1 million jobs in 5 years


New Delhi: To create more job in the country, the Railways is looking to invest over US $150 billion in the next five years which would help create one million additional jobs, minister Piyush Goyal has said.

Goyal, who took over as the rail minister after a Cabinet reshuffle in August, said he was trying to give the national transporter a “new direction”.

A focus on infrastructure could also help increase local manufacturing, he said.

Goyal said his ministry was also compressing the time taken for complete electrification of rail lines to four years from the earlier plan of 10 years, which would help cut costs by around 30 percent for the loss-making Railways.

This electrification initiative would help save the national transporter around Rs 10,000 crore per annum on fuel bill, he said.

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