Rail infrastructure requires Rs 50 lakh crore till 2030: Nirmala Sitharaman

The railway infrastructure in India requires an investment of Rs 50 lakh crore till 2030, Finance Minister Nirmala Sitharaman said on Friday.

Given the expenditure of Rs 1.4 to 1.6 lakh crore per year, it could take decades to complete the projects. "It is therefore necessary to privatise," she said while presenting the Union Budget for 2019-20 in Parliament.

On the other hand, the ambitious project of Bharatmala will enhance road connectivity. Sagarmala will help port and waterways connectivity, she said.

"These along with other such initiatives such as Udaan scheme will improve India's infrastructure, enable connectivity, and bridge the rural and urban divide," said Sitharaman.

-ANI