NEW DELHI 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)
Trending On Reuters
Jindal Steel and Power is in advanced talks with some resources firms to sell more steel and mining assets, its CEO told Reuters, adding the company hopes to close a $976 million power plant deal well before a mid-2018 deadline. Full Article