Indian Railways will invest Rs 11518 crore (Rs 115.18 billion) during 2003-04 mainly to improve the traffic facilities, rolling stock, signalling and telecommunications, computerisation, passenger amenities and road safety works.

The total investment for the next financial year, which showed a near seven per cent rise from the revised estimate of Rs 10785 crore (Rs 107.85 billion) in 2002-03, has, however, been slashed for the gauge conversion, new lines, doubling and track renewals, the Railway Budget said.

The investment on the construction of new lines has been cut to Rs 989.98 crore (Rs 9.9 billion) in 2003-04 as compared to the revised estimate of Rs 1225.59 crore (Rs 12.26 billion) in this fiscal, while that on gauge conversion is estimated at Rs 759 crore (Rs 7.59 billion) as compared to the revised estimate of Rs 807.25 crore (Rs 8.07 billion) for this fiscal.

The investment in doubling of tracks has been slashed to Rs 447 crore (Rs 4.4 billion) for the next financial year against the revised estimate of Rs 587.3 crore (Rs 5.87 billion) for 2002-03 and for the track renewal, the railways has earmarked a lower investment of Rs

3391 crore (Rs 33.91 billion) as compared to the revised estimate of Rs 3401.21 crore (Rs 34.01 billion) this fiscal.

However, the railways has given thrust to improve traffic facilities, including yard re-modelling, with an increased outlay of Rs 240.27 crore (Rs 2.4 billion) for the next financial year as against the revised estimate of Rs 225.69 crore (Rs 2.26 billion) for 2002-03.

Railways will invest Rs 1025.05 crore (Rs 10.25 billion) for rolling stocks during 2003-04 as compared to the revised estimate of Rs 1008.28 crore (Rs 10.08 billion) in this fiscal, while that towards the road safety works, including construction of over/under bridges, had been enhanced to Rs 313 crore (Rs 3.13 billion) in 2003-04 against the revised estimate of Rs 149.11 crore (Rs 1.49 billion) in this year.

PTI