Railways needs yearly investment of `3L crore to meet country's aspirations: Govt

New Delhi: The Railways will need to target a revenue of Rs 3.5 lakh crore and an investment of Rs 3-lakh crore every year to meet the country's aspirations, the government told Rajya Sabha Thursday.

During a discussion on the working of the ministry, Railway Minister Ashwini Vaishnaw attacked opposition members and past governments, alleging they only talked about vision and preparing concept notes, but did not taking any action to implement them.

The minister said that to meet the aspirations of the country, its citizens and the future generation over next 10 years, the Railways will have to target to ferry 1,000 crore passengers every year from about 800 crore currently, and increasing the cargo load from 140 crore tonne to 300 crore tonne.

"If we won't do it then we will never be able to cross subsidize passenger fare," he said.

"For this, we will have to increase cargo 2-2.5 times. Not freight charge, (but) volume. We will have to reach a revenue of Rs 3.5-lakh crore and invest Rs 3-lakh crore every year. Then only we will be able to meet the aspirations of this country," he said.

The minister also alleged that past governments lacked the clarity of vision, but Prime Minister Narendra Modi made a clear decision that the Railways needs to move away from diesel and go for electrification.

"Good that you gave a concept but what work did you do? It's good that you gave a vision document. It's good that you gave the concept but will the country work on the concept? You will have to show the work," he said, referring to the freight corridor project. He said that the concept note for the corridor came in 2004, the foundation station was laid in 2006, but not a kilometre of the project was commissioned under the previous government.