One Million Railway Jobs to be created in next five years
Minister Piyush Goyal has said the Central Govt looking to invest USD 150 Billion over the next five years on Railways Network that would help to create one million jobs additionally.
Piyush Goyal, who took over as the rail minister after a Cabinet reshuffle in August, said he was trying to give the national transporter a “new direction”. “During the next five years, the Railways alone will be looking at an investment of upwards of USD 150 billion. And when I translate that into jobs, I see a million jobs being created only through investments in the railway sector,” he said.
The Railways can play an important role in “aggressively pursuing” government agenda to provide safe, secure, comfortable travel, he said during an awards function on 28th Oct.
He also added that this could increase focus on infrastructure that brings local manufacturing to the next level. Goyal said his ministry was also compressing the time taken for complete electrification of rail lines to four years from the earlier plan of 10 years, which would help cut costs by around 30 percent for the loss-making Railways.
This electrification initiative would help save the national transporter around Rs 10,000 crore per annum on fuel bill, he said. This is to make a note that; Goyal had already said that the Railways would create one million jobs within the next 12 months.