New Delhi: Minister Suresh Prabhu began presenting his maiden budget for the Indian Railways in the Lok Sabha Thursday, promising to balance the needs of passengers and the long-term interests of the network so that it can be benchmarked globally on quality, safety and reach.

"Railways facilities have not improved substantially for the past few decades which is the result of under-investment that affects capacity, leading to poor morale. This fed into vicious cycle of chronic under-investment for a long time," Railway Minister Prabhu said.