Railway Budget 2024 Live
Updates: The Railway Budget 2024, which will form a part of Finance Minister
Nirmala Sitharaman
’s
Budget 2024
speech, is expected to see a record capital expenditure being allocated to it. This capex push, railway experts say, will likely be used for enhancing safety measures on the vast
Indian Railways
network, with particular emphasis on the rollout of
Kavach technology
.
In the Interim Budget 2024, FM Nirmala Sitharaman had announced a capex of Rs 2,52,000 crore for Indian Railways for FY25. This budgeted capex spend may see a further boost in the first full Budget of the Modi 3.0 government. According to the Economic Survey 2023-24 tabled in the Parliament yesterday, the capital expenditure on Indian Railways has increased by 77% over the past 5 years (Rs 2.62 lakh crore in FY24) with significant investments in the construction of new lines, gauge conversion, and doubling.
Railway Budget 2024: New trains coming? Focus on Vande Bharat sleeper, Vande Metro
FM Nirmala Sitharaman is expected to announce that in this financial year the Vande Bharat sleeper train for long distance overnight travel and
Vande Metro
for short-distance travel will be rolled out.
Fifty one pairs of Vande Bharat have been introduced until March 2024. “High-speed, long-distance Vande sleeper train set coaches having features like quick acceleration, diffused lighting, automatic doors and Global Positioning System-based passenger information system are under development,” the Economic Survey notes.
Also Check | Budget 2024 Live Updates: Record capex for rail, roads & income tax relief likely from FM Nirmala Sitharaman’s Union Budget
“Railways is also planning to introduce Vande metro train set coaches with features such as sealed wider gangways, centrally controlled automatic sliding doors, CCTVs for safety and surveillance, route map indicator, passenger information & infotainment system, fire detection system and aerosol-based fire suppression system. The first lot is expected to be turned out in FY25,” it says.
In the Interim Budget, Sitharaman had announced the upgradation of 40,000 passenger coaches to Vande Bharat standards. The Budget 2024 speech may provide some direction on the same.
Additionally, Indian Railways had recently announced plans to manufacture over 10,000 non-AC coaches to cater to the general class passengers. More Amrit Bharat trains for the common man with better passenger amenities and higher speeds may be announced.
Also Check | Income Tax Slabs 2024-25 Budget 2024 Live Updates: New income tax regime tweaks, standard deduction hike and income tax relief on the cards?
Kavach for safety
In light of the recent railway accidents, the Railway Budget is also in focus to provide adequate allocation for modern signaling infrastructure, faster rollout of the Kavach anti-collision train technology, and upgradation of tracks.
Railway experts say that a substantial portion of the record capex for railways will be allocated to safety enhancement projects
Dedicated Freight Corridors and Economic Corridors
Railway Budget may also throw light on the government’s plans to increase revenue from freight and also the recently announced new economic corridors for faster movement of goods.
