Railways needs over $100 billion for transformation: Suresh Prabhu.

Railways needs investments of over $ 100 billion in next 3-4 years to transform itself and the government is working on a plan to attract funds including from overseas, Union Minister Suresh Prabhu said recently.

'We want investments upward of $ 100 billion in next 3-4 years from multiple corners. We are gearing up for this. We are working within Indian missions overseas. We are working with Ministry of Finance and with all government machinery to make this happen,' Prabhu said.

Speaking at 'India Economic Conclave', the Railways Minister said passengers are demanding tremendous improvement in railway services but the government does not have the level of funds which are required to meet that scale of investment.

'Operating ratio of railways is very low when you compare it to US. It is 20 point less than what it is in US. We have hardly any money left to make investment in railways.

ET