Maintaining that global crisis is coming in the way from achieving higher growth, it said its earnings have, however, gone up by 20 per cent this fiscal.
Chairman Railway Board Vinay Mittal said even though there are several financial hurdles to overcome for materialising the high-speed corridor project, they are working towards achieving the objective of running train at 200 km per hour on Delhi-Mumbai route.
"Japan is involved in the study of the high speed train on Delhi-Mumbai route and things are progressing well," Mittal said here but did not give any time frame for its implementation.
Currently Rajdhani trains are expected to run at a maximum speed of 100 km to 120 km per hour while other express trains are running at an approximate speed of 80 km per hour because of the dense traffic condition.
Asked about the proposed train set project which will reduce travel time, he said that it was being studied but it will be launched in a limited scale in some Shatabdi routes.
However, on the proposed project on bullet train which will travel at 300 km per hour, he said "it is a long way to go as it involves heavy funding."
Even though railways' finances remain a big challenge, he said the bridge gap funding of Rs 3000 cr has been paid back with interest to Finance Ministry.
He said the foggy condition over north India have affected revenue earnings and the poor market condition led several of its rakes to lie idle.
Expressing optimism over the increased fund allocation, he said plan allocation in the 12th Five-Year Plan to railways has been increased to Rs 1.94 lakh crore from the Rs 77,000 crore in the 11th Five-Year Plan.
"Steps are being taken to curb expenditure as there is a need for fund renewal of assets and safety upgradation," he said.
