Finance Minister Nirmala Sitharaman announced the Union Budget in the Parliament for the financial year 2023–24 earlier today. The Railway Budget, now merged with the general budget, saw many announcements to upgrade the Indian Railways network.
The budget has seven priorities, including reaching the last mile, infrastructure and investment, green growth and youth power.
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Here are the highlights:
> This year, the Ministry of Railways has been allocated a budget of Rs. 2.4 lakh crore, which is nine times the outlay made in 2013–2014.
> The Finance Minister also announced that Rs. 75,000 crore will be designated for 100 “critical transport infrastructure projects”, which is expected to aid Railways with its freight-related operations.
> This year’s budget allocation will cater to laying new tracks, introducing hydrogen-powered trains and the Ahmedabad–Mumbai bullet train project.
> The Ministry of Railways is aiming to utilise the funds to achieve full electrification, launch more Vande Bharat trains and carry out track construction of 2000 kilometres.
> In addition, Railways is planning to upgrade more than a thousand coaches of premier services, such as Shatabdi, Rajdhani, Tejas and Duronto. These will be equipped with modern amenities to ensure a better travel experience.
> To boost tourism, manufacturing of 100 more Vistadome coaches is also expected.
You can see this tweet for further details:
📡LIVE Now
Union Finance Minister @nsitharaman rises to present #Budget2023 in Parliament
Stay tuned for the highlights and watch the #AmritKaalBudget Speech here https://t.co/4YDqu2fOHu
— PIB India (@PIB_India) February 1, 2023
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