Union Budget HIGHLIGHTS
for India Railway in 2023-24
The Indian Railways
can be called the lifeline of India's transport system, connecting villages,
towns, and cities across the country in a cost-effective and efficient manner.
Every year, the Union Budget is a highly anticipated event with all eyes set on
the proposals for the railways in the latest budget. These will set the tone
for new development projects to enhanced levels of safety and comfort for
for Railways in Union Budget for FY 2023-24
The Union Budget
highlights with respect to the Indian
Railways are mentioned below:
A total of Rs 2.40 lakh crore has been earmarked in capital
expenditure for the Indian Railways in the Union Budget 2023-24. This is
approximately nine times the amount spent in fiscal year 2013-14.
Capex will rise more over the next few years and the railway
system will evolve as a national growth engine.
Increased private investment will be made in the infrastructure
sector of the railways. The Infrastructure Finance Secretariat, which has been
developed recently will support all stakeholders like roads, power, railways,
and urban infrastructure which rely primarily on government resources.
The Union Budget 2023-24 is expected to benefit the middle-class
sector since railways are not likely to increase passenger ticket or freight
A comprehensive description of the Indian Railways' budget
estimates, allocations, revenue, and annual statements will be provided by the
The Railway budget 2023 is likely to encourage the Make in India
effort and to emphasise the importance of renewable energy.
The Indian Railways has designed an autonomous railway
protection system called Kavach (Train Collision Avoidance System). This system
will focus on preventing accidents caused by human errors.
By 2030, the Indian Railways aims to become a Net Zero Carbon
Emitter. It intends to lower its carbon footprint and reliance on imported
fuel, while saving foreign exchange.
The Indian Railways is introducing Kavach in stages. It has been
implemented for 1,455 route km on the South Central Railway with 77 locomotives
till 23 December 2022. Kavach work is underway on the Delhi-Mumbai and
Delhi-Howrah sectors (3000 route km).
The railway track doubling between Surendranagar and Rajkot is
nearly complete. The Ministry of Railways states that 92% of the 116.17 km long
doubling project is finished.
The Udhampur Srinagar Baramulla Rail Link (USBRL), which was
implemented to build a broad-gauge railway line over the Himalayas is now 90%
finished. Through this project, Kashmir will be connected to other parts of
The Sivok-Rangpo New Broad-Gauge Rail Line Project is now more
than half completed. Sikkim will be connected to the rail network with the help
of this project. This railway line will stretch 44.96 km from Sivok to Rangpo.
A small railway line of 41.55 km will stretch in Sikkim.
The introduction of Vande Bharat Express has brought a
significant improvement in terms of speed and convenience. Because of its rapid
acceleration and deceleration, the train may reach a maximum speed of 160-180
km per hour. With these trains, the journey time will be reduced by 25% to 45%.
In the coming three years, 400 new-generation Vande Bharat
Express trains will be constructed and manufactured. Additionally, more money
will be allocated for the new Vande Bharat trains and the sleeper-class Vande