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Indian Railways will go in for market borrowing of Rs 15,103 crore in 2013-14 to part finance its highest-ever plan investment of Rs 63,363 crore proposed for the next fiscal.
This market borrowing will be done through the Indian Railway Finance Corporation (IRFC), which is the market borrowing arm of the Railways.
Besides the market borrowing, the Plan is proposed to be financed through Gross Budgetary Support of Rs 26,000 crore, Railway’s share in the Road Safety Fund of Rs 2,000 crore and internal resources of Rs 14,260 crore, Railways Minister Pawan Kumar Bansal said today.
The Railways are also expected to mobilise Rs 6,000 crore through the public private partnership route, Bansal said in his Railway Budget speech.
BORROWINGS FOR 2012-13
Of the budgeted target of raising Rs 15,000 crore in 2012-13, IRFC had till mid-February mobilised about Rs 8,150 crore.
The mopped up amount of Rs 8,150 crore comprises tax-free bonds of Rs 6,500 crore and external commercial borrowing of Rs 1,650 crore.
For the balance Rs 6,800 crore, IRFC is likely to use options such as term loans and the external commercial borrowing window, Rajiv Dutt, IRFC Managing Director, had said recently.
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