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Rail Budget 2013: Plan to borrow Rs 151bn from mkts
Last updated on: February 26, 2013 13:29 IST
India's railway will borrow Rs 151.03 billion ($2.80 billion) from markets for the financial year 2013/2014, the railway minister said on Tuesday as he presented his ministry's budget to parliament.
India's railway network is the world's fourth-largest but it has suffered from years of low investment and political meddling. The result is a creaking system plagued by delays, overcrowding and slow freight delivery times that sap the competitiveness of Asia's third-largest economy.
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© Copyright 2024 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.