Indian Railways Set to Rake in Record Profits

India's railways are set to create history this year with forecasts of £3bn in profits, according to a report in The Times newspaper.

India's Railway Minister Lalu Prasad, who recently announced a cut in freight and passenger fares and investment in rolling stock, told reporters in India that state-owned Indian Railways could be looking at record profits of more than £3bn.

The figures are set to represent a complete turn around in the fortunes of the rail network, which seven years ago was on the verge of a financial crisis, according to a government study.

India's railways could also soon develop high-speed passenger train corridors, according to reports in the Indian press.

Following high-speed dedicated freight corridors, Indian Railways has proposed similar passenger train corridors across the country, according to officials.

By staff writer