Rail Budget 2015: Railways to monetise existing assets, says Suresh Prabhu

Indian railways will monetise its existing assets rather than selling them to raise funds, Railways Minister Suresh Prabhu said while presenting his Budget for financial year 2015/16.

"The government has raised the planned outlay for the next financial year that begins in April by 52 per cent to Rs 1.1 trillion", Prabhu said on Thursday.

India will increase investment in its overloaded railway network to Rs 8.5 trillion ($137.32 billion) over the next five years and will modernise existing tracks and introduce faster trains, the government said.

(Reuters)