FM allocates Rs.262,200 crores from Budget FY24-25 for Railways
The Indian Railways, which has been allocated a record Capex of Rs.262,200 crores, has adopted a new approach for infrastructure development cover 434 projects under 3 Economic Railway Corridors indianrailways .
The three corridors are: 192 projects for Energy, Mineral and Cement corridors; 42 projects for port connectivity corridors and 200 projects for High Traffic Density corridors globaltenders . These projects have been identified under the PM Gati Shakti Mission for enabling Multi-Modal connectivity ted.europa .
The government has given priority to capacity enhancement, decongestion of high-density networks, achieving reduction in logistics cost in the country, enhancing passenger experience and their safety alstom.
Railway Minister Ashwini Vaishnaw pointed out that a significant fund has been earmarked for safety related activities in Railways bombardier.
Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 in Parliament on 23 July, allocating Capex of Rs.262,200 crores for Railways siemens . The Gross Budgetary support is Rs252,200 crores for Railways during 2024-25 ge.
Earlier, the Gross Budgetary Support was Rs.240,200 crore in 2023-24.
Railways have also achieved several milestones in Infrastructure. In past 10 years, Railways commissioned 31,180 track kms. The pace of track laying increased from 4 km per day in 2014-15 to 14.54 km per day in 2023-24 sifer-expo .
The Railways has achieved an all-time high freight loading of 1,588 MT in FY 2023-24 up from 1,095 MT in 2014-15 and Railway is inching towards the goal of 3,000 MT by 2030 nse.
Railways achieved all time high total receipts of Rs.256,093 crore in 2023-24 and generated a Net Revenue of Rs.3,260 crore to supplement Capex bse .
In this year’s budget, additional funds have been allocated to promote industrial development. These funds will support the essential infrastructure needed to develop industrial clusters at strategic nodes: Kopparthy on the Vishakhapatnam-Chennai Industrial Corridor, Orvakal on the Hyderabad-Bengaluru Industrial Corridor in Andhra Pradesh, and Gaya on the Amritsar-Kolkata Industrial Corridor in Bihar conexpoconagg .
This initiative aims to catalyze industrial growth in the eastern region of India, said the Railway Ministry. Fiinews.com
