Railways' 2013/14 market borrowing seen at 151.03 billion rupees

NEW DELHI Tue Feb 26, 2013 1:22pm IST

Railway Minister Pawan Kumar Bansal (C) arrives to present the annual budget for the country's railway system, at the parliament in New Delhi February 26, 2013. REUTERS/Adnan Abidi

Railway Minister Pawan Kumar Bansal (C) arrives to present the annual budget for the country's railway system, at the parliament in New Delhi February 26, 2013.

Credit: Reuters/Adnan Abidi

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NEW DELHI (Reuters) - India's railway will borrow 151.03 billion rupees from markets for the financial year 2013/2014, Railway Minister Pawan Kumar Bansal said on Tuesday as he presented his ministry's budget to parliament.

The country'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.

(Reporting by Arup Roychoudhury, editing by Ross Colvin)

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