25 Dec, 2014 10:33p.m.

Modi rules out privatization of Railways

Prime Minister Narendra Modi today ruled out privatization of Railways and said that people must not be wary of foreign and private capital being utilised for improving infrastructure of the national transporter which, in turn, will help boost the country's economy. 

On a visit to his constituency here, Modi recalled his childhood days when he had sold tea near a railway station, saying, "I have an association with Railways that is older than what most of Railway employees can claim to have.  He told " Railways has shaped my life, nobody can love it more than me"

He added "We don't see railways only as a means to travel. We see it as the backbone of India's development. We have to take the railways ahead and through the railways we have to take the nation ahead"

"There is a misunderstanding that Railways is being privatised. However, I want to make it clear that we are not privatising Railways. We cannot go in this direction. You don't have to worry. It is neither our wish nor thinking," he said, asking the unions not to pay heed to "rumours" in this regard. 

The Prime Minister made it clear that he planned to utilise the enormous capital available with business establishments within the country as well as abroad for improving the infrastructure.
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