Record allocation of ₹2,62,200 Cr for Railways in Union Budget

Union Minister for Railways, Ashwini Vaishnaw, emphasized the government's commitment to transforming Indian Railways into a world-class network. Presenting the Union Budget 2024-25, Finance Minister Nirmala Sitharaman announced a record capital expenditure allocation of ₹2,62,200 crores for Railways, with a gross budgetary support of ₹2,52,200 crores.

The budget also focuses on industrial development, allocating additional funds to develop infrastructure for 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. This initiative aims to spur industrial growth in eastern India.

Indian Railways has adopted a new approach for infrastructure development, identifying three key economic railway corridors under the PM Gati Shakti Mission: Energy, Mineral and Cement Corridors (192 projects), Port Connectivity Corridors (42 projects), and High Traffic Density Corridors (200 projects). The focus areas include capacity enhancement, decongesting high-density networks, reducing logistics costs, and enhancing passenger experience and safety.

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Record allocation of ₹2,62,200 Cr for Railways in Union Budget

NBM Media

NBM Media

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