Mamata Banerjee seeks private funds for expanding rail network

Strongly favouring private participation in creation of rail infrastructure, railway minister Mamata Banerjee today sought industry's involvement in laying rail tracks across the country and underlined that the service sector would not be privatised.

"We want to expand the rail line with the help of industry," she said at a pre-budget interaction attended by over 200 representatives from various industry bodies and associations.

With the railways facing paucity of funds, Mamata invited industry to invest in construction of rail lines and said it would get matching stake in such projects.
       
"If you invest 30% in a project you will get the matching stake in the project," she said adding mines, ports, business hubs, tourism spots can be fast connected by rail through this approach.

However, she said the railways core departments would not be privatised, allaying fears to this effect.

Mamata acknowledged that there were delays in execution of projects due to technicalities and red tape but said they were working towards speeding up work. 

Besides representatives of industry, trade union leaders shared the dais with the minister.