Budget 2024 presented by Finance Minister Nirmala Sitharaman is taking place on February 1. According to the live updates, a budget of ₹2.55 lakh crore has been allocated for the Ministry of Railways for this financial year. Some significant news about development projects and enhancing infrastructure has been stated. From corridor programs to working on logistics efficiency, here’s all you need to know about the budget for the Railways.
Railway Corridor Programs Will Be Implemented
Karnataka Rail Users (@KARailway) shared the highlights of the interim budget.
HIGHLIGHTS OF THE INTERIM UNION BUDGET 2024-25#Railways #Budget2024 pic.twitter.com/i9rm3YBVAW
— Karnataka Rail Users (@KARailway) February 1, 2024
Nirmala Sitharaman made the announcement of implementing three new corridors. These are:
- Energy, Mineral, and Cement Corridor
- Port Connectivity Corridor
- High Traffic Density Corridor
These three new corridors for the Railways have been identified under the PM Gati Shakti scheme to enable multimodal connectivity, as shared by the Finance Minister. She said how these developments will help in improving logistics efficiency. Along with working on enhancing efficiency, the projects will also play a major role in reducing logistics costs and congestion.
While announcing the development of corridors, she also mentioned how these three economic corridor programmes will boost and accelerate GDP growth.
Nirmala Sitharaman also discussed NaMo Bharat trains and metros. She stated how these modes of transportation facilities can be the fuel to boost the urban transformation. “We have a fast-expanding middle class and rapid urbanisation is taking place”, she said.
Here’s More About The Budget 2024 For Railways
Nirmala Sitharaman also mentioned the plan to convert thousands of bogies to Vande Bharat standards while presenting the interim budget. As per reports, 40,000 bogies will be converted to Vande Bharat standards. This will focus on ensuring safety and enhancing the travel experiences and comfort for passengers travelling on the trains.
Railway Minister Ashwini Vaishnaw also announced launching new trains. He stated about introducing 3,000 trains in the next 5 years.
Also read: First Vande Bharat From Delhi To Ayodhya & The New Ayodhya Dham Railway Station
The Defence Ministry received the highest allocation this financial year with ₹6.1 lakh crore. Next is the Ministry of Road Transport and Highways getting ₹2.78 lakh crore. In the third, there is the Ministry of Railways with ₹2.55 lakh crore. ₹2.13 lakh crore has been given to the Ministry of Consumer Affairs, Food & Public Distribution. The budget is ₹2.03 lakh crore for the Ministry of Home Affairs.
What are your views on this?
Cover Image Courtesy: Wikimedia Commons
For more such snackable content, interesting discoveries and the latest updates on food, travel and experiences in your city, download the Curly Tales App. Download HERE.