Rail Budget 2023 Highlights: Major push for Railways with 2.4 lakh crore capital outlay
Rail Budget 2023 Highlights: Finance Minister Nirmala Sitharaman today announced a major push for Indian Railways with Rs 2.40 lakh crore capital outlay to boost the mammoth railway network across the country. “This is the highest capital outlay for railways and is 9x over Fy2014,” the FM said while announcing the Budget for FY24. The railways has over the years made major inroads into both Jammu and Kashmir and the northeast regions, which were completely disconnected from mainland India by train.
Rail Budget 2023 Highlights: Finance Minister Nirmala Sitharaman today announced a major push for Indian Railways with Rs 2.40 lakh crore capital outlay to boost the mammoth railway network across the country. “This is the highest capital outlay for railways and is 9x over Fy2014,” the FM said while announcing the Budget for FY24. The railways has over the years made major inroads into both Jammu and Kashmir and the northeast regions, which were completely disconnected from mainland India by train.
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Railways plan to refurbish more than 1,000 coaches of premier trains
With increased passenger expectations, the railways is planning to refurbish more than 1,000 coaches of premier trains such as Rajdhani, Shatabdi, Duronto, Humsafar and Tejas. The interiors of these coaches will be improved with a modern look and for enhanced passenger comfort.
A significant allocation is likely to be made to replace old tracks as the railways plan to speed up trains and launch Vande Bharat Express in more destinations. Aimed at attracting tourists, the railways is proposing to manufacture 100 more Vistadome coaches.
In the budget, the government proposed to manufacture 35 hydrogen fuel-based trains, 4,500 newly designed automobile carrier coaches with side entry, 5,000 LHB coaches and 58,000 wagons.
The railways was allocated Rs 1.4 lakh crore in the Union Budget for 2022-23, of which Rs 1.37 lakh crore was earmarked for capital expenditure and Rs 3,267 lakh crore for revenue expenditure.
Rail Budget 2023 Nirmala Sitharaman Speech LIVE
The capital outlay for the railways has been increased to the highest-ever Rs 2.40 lakh crore in the Union Budget for 2023-24. Presenting the budget in Lok Sabha, Sitharaman said the outlay for the railways is nine times the amount provided in 2013-2014. She said 100 critical transport infrastructure projects for last- and first-mile connectivity for coal, fertiliser and food grain sectors have been identified and will be taken up on a priority basis with investment of Rs 75,000 crore, including Rs 15,000 crore from private sources, she said.
Rail Budget 2023 Nirmala Sitharaman Speech LIVE
Shares of railway-related companies, including Rail Vikas Nigam Ltd and IRCON International, are likely to witness an up-trend on following huge Budgetary allocation of 2.40 lakh crore for the mammoth railway network.
Rail Budget 2023 Nirmala Sitharaman Speech LIVE
Indian Railways is one of the top priorities of the present day government. Modi government has launched many new Vande Bharat routes, and has specially focused on laying of new railway tracks across India.
Rail Budget 2023 Nirmala Sitharaman Speech LIVE
Capital outlay of Rs 2.4 lakh cr provided for Indian Railways is the highest-ever allocation since 2013-14.
Rail Budget 2023 Nirmala Sitharaman Speech LIVE
Capital outlay of Rs 2.40 lakh cr for Railways in next financial year: FM Nirmala Sitharaman