In an announcement during a press conference, Union Minister for Railways, Communications, and Electronics & Information Technology, Ashwini Vaishnaw, hailed the Interim Union Budget 2024-25 as a historic leap towards the development and transformation of the Indian Railways.
Minister Vaishnaw commended Government’s visionary approach, emphasizing a paradigm shift towards creating new capacity, adopting cutting-edge technology, and prioritizing safety. Over the past decade, this strategy has seen the addition of 26,000 kilometers of new tracks, a staggering investment of 1,08,000 Crore in safety systems, and the successful implementation of the Automatic Train Protection system, ‘Kavach.’ Additionally, the introduction of new-generation trains has garnered popularity among passengers.
The Union Minister stated, ‘A major focus of the budget is the creation of additional capacity through three key corridors. The Energy, Mineral, and Cement corridors aim to reduce road pollution and lower logistics costs. Port connectivity, in line with the ‘Gati Shakti’ initiative, seeks to provide seamless connectivity to ports through a multimodal approach. The ‘Amrit Chaturbhuj’ corridor, akin to the golden quadrilateral, aims to enhance rail connectivity on high-density traffic routes. Collectively, these corridors will add 40,000 kilometers of new tracks, significantly increasing railway capacity and reducing carbon emissions by up to 90%, contributing to a more sustainable and efficient economy.’
Talking about the second major announcement which involves the upgrade of all 40,000 conventional coaches following the success of ‘Vande Bharat’ and ‘Amrit Bharat’ trains, Minister Vaishnaw highlighted the multi-front efforts to increase capacity, with the addition of 5,200 kilometers of new tracks last year and a further 5,500 kilometers planned for the current year. The capital investment of Rs. 2,52,000 Crore in the 2024-25 budget reflects a clear focus on enhancing capacity, passenger experience, and infrastructure.
Key Highlights of Interim Budget for Railways
- Rs. 2,52,000 Crore for Capital Expenditure for Railways in FY 2024-25
- Implementation of three major economic railway corridor programmes namely energy, mineral and cement corridors; port connectivity corridors; and high traffic density corridors
- Conversion of 40,000 conventional rail bogies to ‘Vande Bharat standards’
As part of the ‘Amrit Kaal’ strategy, three major economic railway corridor programs have been identified under the PM Gati Shakti initiative, focusing on multi-modal connectivity, logistics efficiency, and reduced costs. These corridors, along with dedicated freight corridors, are expected to accelerate GDP growth and decrease logistic costs, marking a pivotal moment in India’s railway development journey.
