Railways planning to create 10 lakh jobs in coming five years Union Minister Piyush Goyal said. To make this happened we are planning to invest 9.75 lakh crores which would help us to create a lot of employment opportunity nearly 10 lakh jobs, Piyush Goyal said. He said we want to run railway ecosystem in a new direction.
My intention is to engage the people and make them work in different corners of the ecosystem Goyal said. Goyal said at the India Economic Summit of the World Economic Forum (WEF) within 12 months nearly million jobs will be created only railways and ecosystem around the railways.
Foundation laid in 2015 for creating jobs:
The former Railway Minister Suresh Prabhu had already laid a foundation stone for creating employment in the sector of Railways in 2015. It demands us to invest 8.5 lakh crores to create jobs, for that we are opening the doors and inviting the investors.
At the same time, they had secured debt worth Rs 1.5 lakh crores from Life Insurance Corporation (LIC) to fulfil the various projects. India has huge strength in investments but it needs a change in people mindset to change the India, Goyal said. Indian market is larger market among others and it is the better place to invest in, Goyal said.
Completion of Electrification:
piyush Goyal said Railway sector plays an essential role to provide comfortable, safe travel for all the passengers. Earlier we said the time taken for complete electrification of rail lines is 10 years, but we are planning to complete it within 4 years. It would be very beneficial for the railway sector. Because if we complete the electrification within 4 years it would help to reduce the cost around 30 percent in making rail lines Goyal said.
Goyal stated that by making electrification throughout the nation we would get around 10,000 thousand crores per anum in the form of fuel bill.