"Railways require big investment. There is no fund for investment. There is requirement of Rs 6 lakh crore to Rs 8 lakh crore for completion of announced projects," Prabhu said.
Asked about the possibility of raising train fares to meet the growing expense, Prabhu did not rule out the possibility saying "passenger service should be improved before increasing the fares. Safety cannot be compromised. There is a need for big investment. Some burden has to be shared by people."

Expressing concern over the operating ratio of railways, he said, the expenditure like staff salary, fuel cost were higher. There is no saving or surplus."
Prabhu who is meeting MPs in batches after assuming charge said, "in order to just meet the demands of MPs, the requirement is about Rs 20,000 crore."
On the issue of privatisation, he said, "the basic aim is that rail service should be better and the ideology is not the issue here."
He made it clear that railways cannot be privatised on the  pattern of other sectors like road and aviation.
"Outcomes are important. Railways cannot be privatised like road sector or aviation sector," he said adding "There are many areas where PPP is happening. We have allowed 110 per cent FDI in rail sector."
About the opposition being faced for bringing changes, Prabhu said "I will convince unions that it is for the interest of railways and the public."
With the aim of having an interface with rail users, he said a customer service portal is going to be launched soon.
Asked about his priority between launching WiFi service and eliminating unmanned level crossings, he said both are different.
Defending the launching of WiFi service at New Delhi station, he said currently 90 crore people are using mobile phones. But by launching WiFi we are not ignoring unmanned level crossing."
He said there is requirement of Rs 30,000 cr to eliminate 11,300 UMLC in the country. "Improvement of safety and passengers service should go parallel."
Giving emphasis on use of technology, he said one does not need to go to ticket window and one can now book tickets on mobile. CRIS is preparing the module."

Latest News  from Business News Desk