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Railways Minister Ashwini Vaishnaw on Thursday (February 1) announced a historic budget allocation for the railway sector in the Interim Budget for the financial year 2024-25, presented by Finance Minister Nirmala Sitharaman.
Vaishnaw revealed that Indian Railways has been allocated a total outlay of Rs 2.52 lakh crore for the upcoming financial year, marking a significant investment to modernise the country’s rail infrastructure,
“Over the last 10 years, PM Modi changed the entire strategy for Railways, shifting the focus towards investment to modernise the sector. This year, a substantial budget of Rs 2.52 lakh crore has been allocated for Railways,” stated the Railways Minister.
Outlays for rail infrastructure, safety projects
Highlighting the budget allocation for various states, Vaishnaw emphasised the significant outlays for rail infrastructure and safety projects. Tamil Nadu received an outstanding outlay of Rs 6,331 crore, while Kerala secured an exceptional allocation of Rs 2,744 crores. Himachal Pradesh is set to receive Rs 2,681 crore for similar projects, demonstrating the government’s commitment to enhancing railway infrastructure across regions.
Additionally, Vaishnaw noted that Haryana has achieved 100 percent electrification of its railway network, with Rs 2,861 crore allocated for further railway development in the state.
3 major economic railway corridor programs announced
In her Interim Budget speech, Finance Minister Nirmala Sitharaman announced the implementation of three major economic railway corridor programs: energy, mineral, and cement corridors; port connectivity corridors; and high traffic density corridors. Sitharaman also emphasised the government’s focus on boosting domestic tourism, with plans to develop tourism infrastructure and amenities on islands, including Lakshadweep.
