Rail Budget LIVE Updates: Soon, Indian railways passengers will be able to travel in trains that are manufactured with private sector world-class technology! With a strong emphasis on need for private investment in Indian Railways, Finance Minister Nirmala Sitharaman in her Railway Budget 2019 speech spoke of unleashing the PPP (Public-Private Partnership) for faster development of railway infrastructure including rolling stock. FM Sitharaman also stressed on how the Dedicated Freight Corridors will decongest the railway network for faster movement of trains. She also said that Special Purpose Vehicles (SPVs) will be encouraged for the suburban railway network development. The need for private sector investment arises since Indian Railways needs Rs 50 lakh crore investment till 2030. If the investment is not expedited the project execution would be delayed, aa scenario the Modi government wants to avoid.
She also said that development of inland waterways will help in reducing pressure on Indian Railways. Sitharaman pointed to the need for Rs 50 lakh crore investment in Indian Railways till 2030, hence stating that the private sector would be needed to speed up projects.
Indian Railways passengers can look forward to faster, more punctual and most importantly safer trains with Railway Budget 2019 expected to focus on safety and modernisation of railway infrastructure. As India enters the era of semi-high speed train travel with modern world-class train sets, it is important for Indian Railways to upgrade its old and ageing infrastructure. This would enable the modern trains by Indian Railways to attain their speed potential. Indian Railways is also chalking out an ambitious plan to eliminate all manned level crossings in the coming years, with an eye on safety.
Railway Budget 2019 Live speech will be tracked by Financial Express Online to bring you the latest updates about Rail Budget 2019. Since 2017, Railway Budget has been merged with the Union Budget, ending a 92-year old practice. The Economic Survey 2019, tabled in Parliament yesterday, has said that the national transporter has made commendable progress.
