The Rail Minister had earlier indicated that bullet trains and semi-high speed trains are in the pipeline. Gowda had said, " (High speed trains) are not possible within a year or two but we should look into that direction. The budget will focus on amenities for commuters and it will benefit India in the long run."
The rail finance bill is traditionally regarded by economists as setting the stage for the national budget, due Thursday, in which the government will lay out its economic reform plans.
Prime Minister Modi last week said in a speech he hopes for more private sector money in modernising the railways, still the main form of long-distance travel for most of India's population of 1.2 billion people.
"We want the railway stations to have better facilities than airports. This is our dream," said Mr Modi, whose government is expected to announce more public-private partnerships in railway infrastructure.
"You will see a change in near future," he said, adding that "private parties would also be ready to invest because this is a good project economically and will benefit everyone".
Modi's Bharatiya Janata Party (BJP), which took office in May after scoring a landslide election win, has also said it favours a greater role for private business in building other infrastructure such as roads and ports.
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