Railway Budget 2022-23 Highlights: The Indian Railways is the big winner in the Union Budget 2022. In a bid to overcome the extended Covid gloom and boost the Indian Economy, Union Finance Minister Nirmala Sitharaman allocated higher funds to the Ministry of Railways this year. The Budget 2022 documents show that the railway ministry has been allocated Rs 1,40,367.13 crore. Union Railway Minister Ashwini Vaishnaw also lauded the higher allocations. This is continuation of the trend that we have been witnessing since 2014. The Economic Survey had also spoken about the need for more funds for better performance by the national transporter. The Union Budget 2022, which is seen as the roadmap for next financial year, saw a clear focus on the infrastructural reforms. As part of India’s new blueprint of infra growth, Sitharaman announced the PM Gati Shakti Masterplan, which would see massive government spending in the fields of road, railways, highways, ports and public transport. Terming them as seven ‘engines’ of growth, Sitharaman said that highways in the country will see expansion of around 25,000 kms. In terms of the major rail announcement, Sitharaman said that there will be 400 Vande Bharat trains in India in next three years. The railway sector will also see 100 Gati Shakti Cargo terminals, which will be developed in next three years.
Last year, Finance Minister Sitharaman had announced a massive fund of Rs 1.10 lakh crore for the Indian railways. Out of this, Rs 1.07 lakh crore was supposed to be the capital expenditure for the Indian Railways. Some experts have pegged this year’s allocation at a whopping Rs 10-12 lakh crore, which is meant for the next 8-10 year vision plan.
A day before, on Monday, addressing Parliament on the first day of the Budget Session, President Ram Nath Kovind had lauded the modernization undertaken by the Indian Railways in the last seven years. President Kovind stated that 24,000 km of train routes have been electrified in less than one decade. New tracks and double-laning of the existing routes also found mention in President Kovind’s speech.
Here are key Railway Budget 2022 highlights and major talking points:
Railway Budget 2022 Live, Indian Railway Budget 2022 Live Coverage
Hours after Union Finance Minister Nirmala Sitharaman presented the Union Budget 2022, Union Railway Minister Ashwini Vaishnaw took to Twitter to react on the Railway Budget 2022. Tagging Modi, Vaishnaw thanked the Prime Minister for much higher investment in the railways. He said that in near future, his ministry will launch special services with focus on small farmers. He also touched upon extending rail routes to remote areas and job generation via boost in domestic electronics manufacturing
This year, in the Union Budget 2022, Finance Minister Nirmala Sitharaman has allocated Rs 1,40,367.13 crore for the Ministry of Railways, shows official document
Traditionally, when the Railway Budget was presented separately, the most sought after announcement by general public after the income tax rates was the train fare. The price of train tickets would determine how well the Union Budget was received by the masses. Since last five years, when the Railway Budget was merged in the Union Budget, this key element has also been downplayed. This year, Finance Minister Nirmala Sitharaman didn't mention anything on railway passenger fare or freight charges. Though there was a lot on infra spending that involved a great role for the Indian Railways. More details are awaited for better clarity on the issue.
The FM has mentioned 100% electrification of Broad Gauge Routes by the year 2023. Also, indigenously developed automatic train protection system to be launched, the Budget states.
Earlier in the morning, we spoke about buzz around special announcements for poll-bound states. But as Nirmala Sitharaman started speaking in Parliament, those buzz didn't turn into realities. No special trains for Uttar Pradesh or any other election state was announced in the Union Budget.
Union Finance Minister said that the idea behind the 'one station, one product' plan is to enhance the future opportunities for local businesses and supply chain ecosystem
One product one railway station will be popularised, says Sitharaman as she announces plan of launch of 400 Vande Bharat trains.
2,000 km of rail network to be brought under the indigenous world-class technology KAWACH, for safety and capacity augmentation, says Sitharaman
This would help in drinking water supply for over 60 lakh people. This will also generate over 100 MW of hydro power.
Construction of 8 ropeway projects for 60 km to be awarded in 2022-23
Budget 2022 to lay blue print for the road to India at 100. To be based on 4 priorities – PM Gatishakti for economic growth and sustainable development; Inclusive development; Productivity enhancement; Financing of investments, says Sitharaman
Productivity-linked incentive schemes in 14 sectors have received an excellent response, with investment intentions worth Rs 30 lakh crore received, Sitharaman says
National Ropeway Development Programme will be taken up on PPP Mode, says Sitharaman
Railways will develop new products and efficient logistics services for small farmers and small and medium enterprises besides taking the lead in integration of postals and railways networks to provide seamless solution for movement of persons. One Station One Product will be popularised to help local busineses and supply chain.
In a bid to increase the infrastructure spending and boost logistics, the Modi government will formulate the national masterplan for expressways within this fiscal, says Finance Minister Nirmala Sitharaman
Big push for infra spending, says Finance Minister Nirmala Sitharaman as she announced the PM Gati Shakti Master Plan. This plan would include higher spending for road, railways, ports and mass transports.
Wi-Fi facility has been commissioned at a total of 6089 railway stations (120 during last year). More stations are likely to get fast and free Wi-Fi facility.
In a bid to boost tourism, Indian Railways had decided to launch theme based tourist circuit trains ‘Bharat Gaurav’. Under this scheme, service providers will be able to refurbish the coaches of Bharat Gaurav trains. They have been given full flexibility by the government to decide the themes, interior designs, tariff, as well as other business modalities.
With the opening of India's first two world-class stations last year- Gandhinagar Capital railway station and Rani Kamalapati railway station, Indian Railways plans to modernize and transform more railway stations into airport-like stations. Various stations including Surat, Gwalior, Chandigarh, Nagpur, Amritsar, Kanpur, Anand Vihar, Baiyyappanahalli, etc., are being redeveloped.
Over 24 thousand km of Indian Railways' route has been electrified in the last seven years. Besides, development work on the line doubling and laying of new rail lines are progressing at a fast pace. There's a target for 100% electrification, transforming the rail network into Green Railways by the year 2030.
Last year, PM Modi had announced to introduce a total of 75 semi-high speed Vande Bharat Express trains, connecting India's every corner.
Usually, the Rail Budget has always included some regional focus plan. With five big states including Uttar Pradesh going for the Assembly Elections this month, there is a strong buzz that UP may get special trains.
The National Rail Plan lays down the road map for capacity expansion of the railway network by 2030 to cater to growth up to 2050. It envisages the creation of a future ready railway system that is able to not only meet the passenger demand but also increase the modal share of railways in freight to 40-45 per cent from the present level of 26-27 per cent. – PTI
The Economic Survey tabled on Monday shows that the Indian Railways has seen a tremendous growth in terms of the capital expenditure. If you look at the numbers, till 2014, the capex for the national transporter was somewhere around Rs 45,980 crore. This has grown five times in the last seven years and the capex for 2021-22 stands at around 2,15,000 crore.
India is celebrating 75 years of Independence this year. There is a strong buzz that the Narendra Modi govt will launch new trains to coincide with the ambitious 'Amrit Mahotsav'. Some experts are also calling this year's budget as the 'turnaround' budget for the Indian Railways.