The Union Government on 25 July 2014 revised investment target for Dedicated Freight Corridor (DFC) from 27000 crore rupees to 80000 crore rupees. The announcement was made by the Railway Board Chairman, Arunendra Kumar during the ASSOCHAM conference in New Delhi.
Reason for Revising Investment Target
The multiplication of land acquisition led to an increase of investment targets. The Railway Board Chairman explained that the Union Government has plans of constructing more corridors and more investment which will bring down the cost and enhance the technological levels in Railways.
Further Course of Action
As the future course of action, the President of ASSOCHAM, Rana Kapoor explained that India needs to urgently act on developing connectivity to ports, mines and power plants by fast tracking DFC which will provide strong impetus to the economy.
In the meanwhile, timely execution of projects will boost manufacturing output to 25 percent of GDP by 2025 and result in job creation.
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