$15 billion budget

india rail 4

India has two national budgets: One for the railways, and one for the rest of the government.

The most recent budget called for spending of 1 trillion rupees ($15 billion), a sharp increase over the previous year. The additional funds are slated for modernization efforts. On Tuesday, General Electric said it had won a contract to produce 1,000 new diesel locomotives at a cost of $2.6 billion.

First published November 11, 2015: 6:45 AM ET

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