The World Bank will aid Indian Railways in chalking out a strategic framework for transforming itself into an effective platform.
The Indian railways which have been conceptualized as a mass transporter is toying with the idea to facelift its framework with the aid of World Bank. Besides the global lender will help establish a Railway University and Rail Tariff Authority.
The Bank will help Indian Railways create a body that will work on forecasting models, traffic optimisation, etc to overhaul its entire operations.
"Further, an infrastructure plan for the next 10-15 years, after a detailed analysis on freight and passenger growth expected in India, is also envisaged to be created". For this year, the Railways would spend Rs 1.31 lakh crore to augment capacity.
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For the digital transformation, the World Bank will provide advisory services and management consultancy programme for 2-3 years.
As per a report in the Economic Times, a top railway ministry official said, "We needed this arrangement to build our capacity and deliver projects on a mission mode. World Bank's expertise would be a great gain", said a top rail ministry official, reported by The Economic Times.
The World Bank which is drawing up the plan has proposed to form an organisation for the goal of creating detailed forecasting models, planning and traffic optimization.
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