Budget 2023: Nirmala Sitharaman announced 9 times more grant, 2.40 lakh crore for Railway Department
New Delhi: Union Finance Minister Nirmala Sitharaman has presented the last full budget of the 2nd term government led by Prime Minister Modi, and this time the Indian Railway Department has given a huge gift. The Finance Minister has announced a grant of 2.4 lakh crore rupees to the Railway Department in the Budget 2023. This is the record grant given to the Railway Department in the budgets so far. Nirmala Sitharaman said while presenting the budget that this is 4 times more than last year and 9 times more than the Congress government budget of 2013-14.
75 thousand crores for various projects
It was expected that the railway department will get more funding in this budget. Similarly, a huge grant has been received. It is decided to start 100 new projects under this grant of Railways. 75 crores for these projects. is reserved. This decision has been taken to facilitate the journey of passengers.
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Importance of electric railway system
The central government has prioritized more private investment in railways. Indian Railways is on its way to becoming the largest electric railway system in the world. Electrification of 1,973 km line has been achieved in 2022-23. This is an increase of 41% compared to the period of 2021-22. In addition to this, 1,161 and 296 km. Electrification of double line and sidings has been done so far.
More Vande Bharat trains likely to start
Indian Railways plans to launch 75 Vande Bharat trains by August 2023. Meanwhile, a tender for the manufacture of 200 Vande Bharat sleeper trains is likely to be floated soon. Vande Bharat Express trains, one of the most well-equipped trains in the world, are slowly taking the place of Shatabdi Express trains in the Indian railway network. More sleeper Vande Bharat versions are said to replace the Rajdhani Express trains in the coming days.
Emphasis on renovation of railway tracks
The department is expected to announce 400 to 500 semi-high speed Vande Bharat trains after the Railway Budget 2023. In addition, it is suggested by railway experts that the railway tracks need to be upgraded to a speed of 160 km according to the capacity of Vande Bharat trains.
Earlier grant given to Railway Department
- 10,623 crore from 2009 to 2014
- 24,347 crores from 2014-19
- 77,271 crore in 2022-23
- 2,40,000 crore in 2023-24
Other than Railways, Nirmala Sitharaman announced the important announcement
- Agricultural loan target increased to Rs 20 lakh crore
- 79,000 crore reserve for Pradhan Mantri Awas Yojana
- Capital investment expenditure from 33 per cent to Rs 10 lakh crore
- will be increased, rising to 3.3% of GDP in FY2024
- The effective capital expenditure of the Center is Rs 13.7 lakh crore
- 157 new nursing colleges in prime locations, aims to eradicate anemia by 2047.