Railway Budget 2015: Seventy seven new railway projects sanctioned

New Delhi, Feb. 26 (ANI): Railway Minister Suresh Prabhu on Thursday sanctioned 77 new railway projects worth Rs. 96,182 crores.

"While last mile connectivity projects continue to be accorded the highest priority, the railways intends to fast track the sanctioned works on 7,000 kilometers of double/third/fourth lines and commission 1200 kilometers in 2015-16 at an investment of Rs. 8686 crores," Prabhu said.

Presenting the Railway Budget proposals for 2015-16 in Parliament today, Prabhu said this budgetary allotment under Capital is 84 per cent higher than 2014-15.

"We also intend commissioning 800 kilometers of gauge conversion. Additionally, we have sanctioned 77 projects covering 9,400 kilometers of doubling/tripling/quadrupling works along with their electrification at a total cost of Rs. 96,182crore which is over 2700 per cent higher in terms of amount sanctioned in 2013-14, 2014-15 being a Plan holiday," he said.

"The priority for undertaking projects has been determined by a designated committee for capacity enhancement, revenue generation and decongestion. The negotiations are on with financial institutions for funding of these projects through extra budgetary resources. These projects cover almost all States," Prabhu said. (ANI)