Indian Railway: In a landmark announcement, Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, unveiled the Interim Union Budget 2024-25, allocating Rs. 2,52,000 Crore for the development of the Indian Railways. The budget emphasizes three major economic railway corridor programs: energy, mineral, and cement corridors; port connectivity corridors; and high traffic density corridors.
Union Minister for Railways, Communications, and Electronics & Information Technology, Shri Ashwini Vaishnaw, lauded the transformative focus on capacity enhancement, safety, and technology. He highlighted the achievements of the past decade, including the addition of 26,000 km of track and a substantial investment of Rs. 1,08,000 Crore in safety systems.
The budget places a significant emphasis on three key railway corridors. The Energy, mineral, and cement corridors aim to reduce road pollution and lower logistics costs. Port connectivity corridors, part of the ‘Gati Shakti’ initiative, will provide seamless rail connectivity to ports. The ‘Amrit Chaturbhuj’ corridor, akin to a golden quadrilateral on high-density traffic routes, is poised to bring about a substantial increase in railway capacity and reduce environmental pollution.
Shri Vaishnaw detailed the success of the ‘Vande Bharat’ and ‘Amrit Bharat’ trains, leading to the decision to upgrade all 40,000 conventional coaches to ‘Vande Bharat standards’. The investment in new tracks continues to grow, with 5,500 km planned for the current year. The capital expenditure of Rs. 2,52,000 Crore for 2024-25 reflects a clear focus on expanding capacity, enhancing passenger experience, and strengthening infrastructure.
Prime Minister Narendra Modi commended the budget as inclusive and innovative, expressing confidence in its continuity. He particularly noted the announcement to manufacture 40,000 modern ‘Vande Bharat Standard’ coaches, foreseeing an improved travel experience for millions of passengers across India. The Prime Minister emphasized the ongoing efforts to address the waiting list problem, anticipating that the completion of the three announced corridors will significantly contribute to this goal.
