Minister of State for finance Jayant Sinha said that the government will invest 8.5 lakh crore rupees in Indian Railways in an iron clad move to change the face of the sector.
Speaking at the 55th Annual convention of Automotive Component Manufacturers of India in New Delhi, Sinha said that after a decade of chronic under investment in Indian Railways, government has decided to invest 8.5 lakh crore rupees in Indian railways and added that investment in roads has been doubled this year.
Sinha stated that it was unfortunate that the Constitution amendment Bill GST was not passed in the Monsoon session and added that GST would be hugely beneficial for the automobile and automotive component industry.
He also appealed to opposition parties to extend their support for the passage of GST Bill in Parliament saying that the government is ready to support the efforts of the automotive components industry in scaling new heights.