(BS)
Setting its eyes on infrastructure development, the Union Ministry of Finance has asked the railways to raise borrowings, with the assurance that it will pay the principal amount. The railways will have to pay the interest.
According to sources, a final call on this would be taken when the national carrier asks for additional sums to be allotted to it in the form of Gross Budgetary Support (GBS), or when it appeals to the finance ministry to repay both the principal and the interest. “We are in talks with the department of expenditure to take a call on this soon. It needs to be seen what their decision would be after the issue was discussed at the economy review meeting chaired by Prime Minister Narendra Modi on September 15,” said an official source.
