The Railway Ministry is now going to do a complete makeover of Indian Railways. For this, the government has taken a big decision for the improvement of railways.
The Ministry of Railways will now pay special attention to Research and Development (R&D) for the complete makeover of Indian Railways. For this, the ministry is now going to bring a policy to have a separate budget for R&D.
Budget will be fixed to promote research
Railway Minister Ashwini Vaishnav said on Wednesday that now private sector research and development (R&D) will be made a major part of the railway budget. For this, Indian Railways will come up with a policy in the next 7 to 8 days.
Private sector has got entry in Defense
Speaking at the concluding session of a webinar, he said that the area of research and development has already been opened to the private sector in the defense and space sector. Now similar steps need to be taken for all the sectors.
Railway will bring policy in 7-8 days
Vaishnav said, ‘We are starting something in Indian Railways very soon. We will bring a new policy in the next 7 to 8 days. In this new policy, private sector research and development will become an integral part or major part of the R&D budget of the Railways.
Government will promote private sector
He said, ‘We expect that going forward, 90 percent of the R&D budget of the Railways will be in the private sector. Whereas at present it is 100 percent in the public sector.
Ashwini Vaishnav, who also holds the responsibility of the Ministry of Telecom and Information Technology, also appreciated the suggestions of the industry on spectrum management during this period. In his address, he called upon the industry to take steps to promote domestic manufacturing of technology products.
