India eyes private money to facelift slow railways: What does this mean for you?

The Narendra Modi government presented its maiden Railway Budget on Tuesday and made passenger-friendly announcements to negate the sting of the recent hike in railway fares and freight charges. Amongst all, allowing Foreign Direct Investment (FDI) in railways or large-scale privatisation was a major highlight in the Rail Budget today.
 
Railways Minister said that the cash-strapped colonial-era transport will get a major boost from privatisation.
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