Centre's support of Rs 13.98 billion to Konkan Railways till now

The Union government has extended support of Rs 13.98 billion till date for the Konkan Railway Corporation.

Presenting the Railway Budget for 2002-03, Railway Minister Nitish Kumar said 70 per cent of the capital cost of the Konkan Railway Corporation has been met through market borrowings resulting in heavy fund requirement for debt servicing and redemption.

Kumar said that the Railways have been giving continued financial support to this organisation. The support extended by the Railways till date is Rs 13.98 billion of which Rs 7.44 billion was paid in the year 2001-02 alone.

Traffic in the Konkan Railways increased by 50 per cent over the past two years.

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