Modernisation of the Indian Railways is likely to cost more than INR 14 lakh crore over the next 10 years, industry body Assocham has said. Indian Railways, which is the third largest rail network in the world, employs 14 lakh employees, it added. “The rail lines measure up to 64,015 kilometres, up from 53,596 kilometres in 1947,” Assocham said. The chamber said that there was a need to increase the government spending on rail network in the country, Economic Times reported. Both developed and developing countries are spending hundreds of billion of dollars each year to add more rail lines. China is spending US$300 billion over the next three years to expand and modernise its rail network, the chamber was quoted saying.
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