Yadav also said that Railways has identified 10 more high speed rail corridors besides Mumbai-Ahmedabad route for system upgradation.
Speaking at the Rail India Conference and Expo, Yadav said, "Right now the signalling system on the vast Indian Railways network of 70,000 km do not have the modern signalling system."
"We are now in the process of upgrading the entire signalling system in next few years with anti-train collision technology," he said.
The Chairman Railway Board said that the Indian Railways is planning electrification of its entire network in next three years.
Talking about upgrading the rail network to increase the speed of the trains, he said, "Fifteen days back, the Cabinet cleared the plan to upgrade the Mumbai-Delhi and Delhi-Howrah route to 160 kmph and we have targeted to complete it in four years."
He asserted that the planning to upgrade the speed on the existing rail network requires a deep analysis and research.
"So all the steps to upgrade the speed on the existing rail network will be taken after analysis," Yadav said.
Speaking about handing over some trains to private players, he said, "For the first time we are giving a Tejas train to Indian Rail Catering and Tourism Corporation (IRCTC) to run between Delhi and Lucknow."
He said that the IRCTC will pay for the lease, maintenance of the train to the Indian Railways while it will itself manage the marketing and running of the train.
"It is for the first time that Indian Railways would not be fixing the fares of the train," he said.
Yadav also said that besides Delhi-Lucknow route, the Indian Railways has also figured out Mumbai-Ahmedabad route to be handed over to private players.
Talking about the Indian Railways' ambitious 508 km Mumbai-Ahmedbad High Speed Train, which is also popularly known as Bullet train project, he said, "Work on high speed corridor is going on smoothly."
He said, besides Mumbai-Ahmedabad, "Railways has identified 10 more high speed corridors".
Emphasising the role of industries in the growth of Railways, the Chairman also asked the industries for meaningful partnership.
"This is the right time to join hands with the Railways to help it become the growth rider of the country. Thus I am asking for meaningful partnership," he said.
( With inputs from IANS )