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