Finance Minister Nirmala Sitharaman has announced the Union Budget in the Parliament for the financial year 2024 today. The Railway Budget saw many announcements to upgrade the Indian Railways network.
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The budget is geared towards growth, but will also focus on improving India’s existing transport setup.
Here are the highlights:
> The outlay for infrastructure has been increased to Rs 11.11 lakh crores in FY25.
> The expansion of key rail infrastructure projects such as Metro Rail and Namo Bharat to additional cities was announced. The conversion of approximately 40,000 rail bogies into Vande Bharat coaches will take place.
> Three significant Railway economic corridor programs are set to be rolled out, focusing on energy, mineral, and cement corridors, port connectivity corridors, and high-traffic density corridors.
> Indian Railways is presently undertaking multiple infrastructure projects in the Northeastern states, including the expansion of the rail network to Sikkim and the conversion of Narrow Gauge (NG) lines to Broad Gauge (BG).
> A key priority for the government will be the introduction of the Vande Bharat Sleeper Version. These trains are designed for longer journeys, spanning over 800 kilometers.
> Indian Railways is committed to enhancing safety by using advanced technology known as “Kavach.” Railway Minister Ashwini Vaishnaw explained that Kavach is an indigenous anti-collision technology that meets high safety standards, ensuring safety on the railway.
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