Budget 2022: Indian Railways budget allocation for FY23 at Rs 140367.13, up 27% over FY22; here are top 6 announcements

Budget 2022: The Narendra Modi Government has announced a budget allocation of Rs 140367.13 cr for FY23 for the Indian Railways, which is up 27.5 per cent over the outlay announced during the Budget 2021. ​The government had allocated Rs 110,055 cr for Railways of which Rs 107,100 cr was for capital expenditure

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The announcement was made by Finance Minister Nirmala Sitharaman on Tuesday. This is her third full Budget of the Modi 2.0 government.

1) Railways will develop new products and efficient logistics services for small farmers and Small and Medium Enterprises, besides taking the lead in integration of Postal and Railways networks to provide seamless solutions for movement of parcels.

2) ‘One Station-One Product’ concept will be popularized to help local businesses & supply chains.

3) As a part of Atmanirbhar Bharat, 2,000 km of network will be brought under Kavach, the indigenous world-class technology for safety and capacity augmentation in 2022-23.

4) Four hundred new-generation Vande Bharat Trains with better energy efficiency and passenger riding experience will be developed and manufactured during the next three years. 

5) One hundred PM GatiShakti Cargo Terminals for multimodal logistics facilities will be developed during the next three years.

6) Mass Urban Transport including Connectivity to Railways - Innovative ways of financing and faster implementation will be encouraged for building metro systems of appropriate type at scale. Multimodal connectivity between mass urban transport and railway stations will be facilitated on priority. Design of metro systems, including civil structures, will be re-oriented and standardized for Indian conditions and needs.