An amount of ₹1,40,367.13 crore was allocated to the Railways ministry in the Union Budget tabled by finance minister Nirmala Sitharaman on Tuesday. This is ₹20,311 crore more than the revised figures of the previous fiscal.
The Rail Budget was merged with the Union Budget in 2017 and since then it is being presented as part of the main one by the finance minister.
In her Budget speech, Sitharaman said the country will manufacture 400 new, energy-efficient Vande Bharat trains in the next three years. The rail sector will also develop “One Station One Product” that will leverage local produce carried on the railways.
Welcoming the allocation, Railways minister Ashwini Vaishnaw said the integration of posts and railways will bring better logistics solutions for people living in remote areas. “The Union Budget has a provision of ₹1.37 lakh crore of capital investment support for the Railways. It will help complete the stalled railway projects,” he said.
Vaishnaw added the Railways will introduce new products and services for small farmers and enterprises.
The Budget also earmarked ₹38,686.59 crore for investment in PSUs, joint ventures and special purpose vehicles.
The allocation for the development of rolling stock, which will be instrumental in bringing in new modern coaches and technology to the national transporter, has been kept at ₹7,977 crore.
Sitharaman allocated ₹15,710.44 crore to the Dedicated Freight Corridor (DFC), whose assets will be monetised by the Railways for operations and maintenance.
The Budget also allocated ₹13,335.47 crore for track renewal, ₹2,850 crore for gauge conversion and ₹12,108 crore for doubling. A sum of ₹25,243 crore was alloted for new lines as well.
(With inputs from agencies)
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