Railway Minister Piyush Goyal said on Tuesday at the Lok Sabha that Indian Railways will not be privatized but private investment in the sector should be encouraged for more efficient operations.
His announcement comes after a massive protest is put into effect by Banks Union in the country against the proposed privatization of two state-owned lenders. The Minister assured that there won’t be any privatization of Indian Railways, as it is a property of every Indian and will remain so.
He said that the Narendra Modi-led Indian Government has increased the investment in Railways from Rs. 1.5.lakh crore in 2019-2020 to Rs. 2.15 lakh crore in 2021-22 fiscal year. Piyush said that the Railways Ministry is very much focused on improving the passengers’ safety and will continue on that.
At the same time, he underlined that the strength that private partnership could add to the sector. He expressed that the country can thrive towards great growth and create more employment opportunities only when the public and private sectors work together.