Railways will invest Rs 2,30,000 crore during the 11th Plan period to improve its rolling stock and increase productivity.
This amount "is almost three times the amount allocated in the 10th Plan," Railway Minister Lalu Prasad said in Lok Sabha while presenting the Interim Railway Budget on Friday.
Railways had deployed an investible surplus of Rs 70,000 crore for this purpose between 2004-05 and 2008-09.
"The objective is to increase the transport capacity of the Railways and reduce the unit cost of operations," he said.
He said the investment outlays have been stepped up from Rs 13,394 crore in 2003-04 to Rs 36,773 crore in 2008-09.
Now, the Railways would be completing the work of 4,900 kms of gauge conversion, 1800 kms of doubling and laying 1,100 kms of new lines over five years, he said.