INDIA

FM Announces Highest-Ever Package Of ₹1.1 Lakh Crore For Railways

Mumbai: During the Budget speech, Finance Minister Nirmala Sitharaman announced the highest-ever package of ₹1.1 lakh crore for Railways.

“Indian Railways has prepared a National Rail Plan for India 2030. The plan is to create a future-ready railways system by 2030 – bringing down the logistic cost for the industry is at the core of a strategy to enable Make in India. I am providing a record sum of Rs 1,10,055 crores for Railways of which Rs 1,07,100 crores is for capital expenditure only,” she said.

Sitharaman further said that Metrolite and Metroneo technologies will be deployed in Tier-2 cities and along the periphery of Tier-1 cities.

The Finance Minister said that to further strengthen the railways, the railway’s high-density network and highly used network routes will be provided with indigenously developed automated train safety system which eliminates train collisions due to human error.

“High-density rail networks and highly utilized rail routes to be provided with indigenously developed automatic train protection system which will eliminate train collision due to human error 100 per cent electrification of rail broad gauge routes to be completed by December 2023,” she added

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