NEW DELHI India's railway ministry plans to borrow 150 billion rupees from the market through the Indian Railway Finance Corporation (IRFC) in the 2012/13 fiscal year, Railway Minister Dinesh Trivedi said on Wednesday.
Speaking as he unveiled the ministry's budget to parliament, he also said India planned to invest $147 billion in the railways during the next five-year plan period that runs from 2012 to 2017.
(Reporting by Matthias Williams and Manoj Kumar; editing by Malini Menon)
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Two express trains derailed into a river in Madhya Pradesh overnight after flood water weakened the tracks, killing 21 people, state officials said on Wednesday, reigniting criticism about lack of safety on the world's fourth-largest rail network. Full Article | Video