The Finance Minister said that a total of Rs 2.4 lakh crore has been allocated to the Railways. The Finance Minister said that this is the highest allocation so far. Compared to the year 2013-14, this budget of Railways is almost 9 times more.
New Delhi: Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2023, announced that the highest ever expenditure will be made on Railways. The Finance Minister said that a capital outlay of Rs 2.40 lakh crore has been made for the Railways in the budget. 100 new schemes will be started in Railways. Apart from this, a fund of Rs 75 crore has been given for new schemes. 100 schemes have been identified with the help of the private sector. Further work will be done on this.
Railway is the backbone of the transport system. People prefer trains to travel long distances. Heavy goods are transported by rail only. From time to time, the government keeps announcing different trains on different routes. What announcements the government made regarding the railways in this budget, have a look.
In the last budget, the Finance Minister had announced to give a budget of Rs 140367.13 crore to the Ministry of Railways. Before 2017, the railway budget was presented separately. But the Modi government ended this tradition. Arun Jaitley was the first Finance Minister, who presented it by including the Railway Budget along with the General Budget. This tradition was going on since 1924.
In the year 2022, Railways got a budget of 1.4 lakh crores. Railways has set a target of commissioning New Dedicated Freight Corridor and High Speed Passenger Corridor in Vision 2024. Multi-tracking, signaling system will be improved in congested routes. According to an estimate, about 20 lakh crore rupees will be spent on laying one lakh kilometer line.