Railway targets Rs. 1.3-trillion for next fiscal

In order to bridge the huge infra deficit in the rail sector, Indian Railways is planning a capital expenditure of Rs.1.3 trillion for the next financial year. Railways, which has targeted the highest-ever capital outlay, is expecting a gross budgetary support (GBS) of about Rs. 55,000-cr from the finance ministry. On this score, the railway ministry has sought a GBS of Rs. 60,000-cr from the Union budget and is hopeful to get around Rs. 55,000cr, which is an increase of approximately 20%, said an official spokesperson, adding that the gross budgetary support for railways was around Rs. 45,000-cr for the current fiscal year. As a matter of fact, Indian Railways is seeking more money despite being able to spend only 54% of its planned capital expenditure during the current fiscal. With the merger of railway budget and the Union budget, the railway ministry and industry is hopeful that finance ministry would increase budgetary support to boost infra growth in the rail sector.