The Railways Ministry is considered by many as one of the best-performing in the Narendra Modi government. Suffering from chronic under-investment, a lot of flab and an over-dependence on freight revenues, Railway Minister Suresh Prabhu has looked to turn things around. "We are looking to invest about USD 142 billion in the next four years for rail infrastructure modernization," Prabhu told CNBC-TV18's Latha Venkatesh, Sonia Shenoy and guest editor Adrian Mowat (of JP Morgan) in an exclusive interview. This, he said, would partly be funded by a sharp increase in capital expenditure supported by the government Budget -- it rose from Rs 57,000 crore in FY15 to Rs 97,000 crore in FY16 and is pegged at Rs 1.21 lakh crore in FY17 -- but a lot of it would be outside the Budget, such as PPP spending on the Dedicated Freight Corridor and High Speed Railway.
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