World Bank will give $ 240 million loan for railways
According to the World Bank, it is necessary to increase freight traffic through railways to control greenhouse emissions and this is possible by modernizing the infrastructure of Indian Railways.
Now the World Bank will also help in the government’s efforts to modernize the Indian Railways, improve freight transport and strengthen the logistics infrastructure. The World Bank has informed that railway For the development of Indian Railways, a loan of $ 245 million has been approved. According to the statement of the World Bank, with the help of the railway’s logistics project, India will be able to shift a large part of its freight and passenger traffic from the road to the rail route, thereby preventing the emission of large amounts of greenhouse gas every year. Will be able This scheme will further encourage private sector investment in the railway sector.
Less share of railways in total traffic
Indian Railways is the fourth largest rail network in the world. At the same time, according to the figures of the financial year ended March 2020, 120 million tonnes of goods were brought and transported through the railways. However, this too is only 17 percent of the total freight of the country. Most of the goods in India are transported by road only. According to the statement of the World Bank, due to the limitations related to the capacity of the railway, limited goods are being brought through the rail, while the speed has also decreased. Due to this railways is losing its share in the freight market at the hands of road transport. Railways’ share was 32 per cent in 2017-18, up from 52 per cent a decade ago. According to the statement, the movement of goods by road is the biggest cause of greenhouse gas emissions, which is responsible for 95 percent of the total emissions from the freight sector. At the same time, a large part of road accidents and deaths related to it are related to trucks. In such a situation, promoting rail traffic will be very important for the economy and for the people.