Last Updated on February 3, 2024 by BFSLTeam BFSLTeam
The interim budget 2024-25, presented by Finance Minister Nirmala Sitharaman on February 1, has given a major boost to the Indian railway sector, which is one of the key drivers of economic growth and social development in the country. The budget has announced several measures to enhance the railway infrastructure, connectivity, safety, passenger experience, and environmental sustainability. Some of the highlights of the budget for the railway sector are:
- The budget has allocated a record capital expenditure of Rs 2.8 lakh crore for the railway sector, which is 16.6% higher than the previous year. This will help in completing the ongoing projects, such as the dedicated freight corridors, high-speed rail corridors, and metro rail projects, as well as initiating new projects, such as the port connectivity corridor, the energy, mineral and cement corridor, and the high traffic density corridor.
- The budget has also announced that nearly 40,000 normal bogies will be converted to standard Vande Bharat bogies, which are semi-high speed trains with modern amenities and features. The Vande Bharat trains, which were launched in 2019, have been a success story for the Indian railway, as they offer faster, safer, and comfortable travel to the passengers. The budget has also proposed to introduce Vande Bharat sleeper trains, which will be better than Rajdhani Express trains, for long-distance overnight travel.
- The budget has also focused on the safety and security of the railway passengers and staff, by allocating Rs 10,201 crore for track renewals, Rs 5,000 crore for signalling systems, and Rs 3,000 crore for CCTV cameras and other surveillance devices. The budget has also proposed to install bio-toilets in all the coaches, to prevent open defecation and improve hygiene and sanitation. The budget has also announced a special fund for the welfare and protection of the railway employees, especially the frontline workers, who have been working tirelessly during the COVID-19 pandemic.
- The budget has also emphasised the importance of green and sustainable railway, by allocating Rs 2,000 crore for the electrification of railway lines, Rs 1,000 crore for the installation of solar panels and windmills, and Rs 500 crore for the development of hydrogen fuel cells and battery-operated trains. The budget has also announced the launch of the world’s first fully biofuel-powered flight from Dehradun to Delhi in 2023, which will reduce the carbon footprint and fuel consumption of the aviation sector.
- The budget has also enhanced the passenger experience and convenience, by allocating Rs 1,500 crore for the digitalization of railway services, such as ticket booking, reservation, cancellation, refund, and enquiry. The budget has also announced the implementation of the DigiYatra, e-Gate, and AirSewa initiatives, which will provide seamless and hassle-free travel to the passengers across different modes of transport. The budget has also announced the launch of the Amrit Bharat Express trains, which are premium push-pull technology trains for the common man, with several passenger comforts and facilities.
Wrapping Up
The interim budget 2024-25 has shown the government’s vision and commitment to make India a global railway hub and a leader in the post-COVID world. The budget has addressed the challenges and opportunities faced by the railway sector, such as infrastructure, connectivity, safety, passenger experience, and environmental impact. The budget has also reflected the government’s focus on promoting the PM GatiShakti scheme and the National Logistics Policy, which aim to provide multi-modal connectivity and integrated logistics solutions to the country. The railway sector in India is poised to take off to new heights with the support and guidance of the interim budget 2024-25.
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