Union Budget 2022-23: Recently, Railway Minister Ashwini Vaishnaw thanked Prime Minister Narendra Modi for the record investment allocation for the Indian Railways network in this year’s budget. Yesterday, Finance Minister Nirmala Sitharaman, presented the paperless Union Budget in the Parliament for the financial year 2022-23. In this fiscal’s Budget, capital investment of Rs 1,37,000 crore has been given to the Ministry of Railways. According to the Railway Minister, this will help in completing the railway projects which have been stalled due to lack of investment in the national transporter for a long period of time.
In the Union Budget, the Finance Minister announced that during the next three years, as many as 400 new generation semi-high speed Vande Bharat Express Trains with better energy efficiency as well as better passenger riding experience will be developed and manufactured. According to Vaishnaw, the design of version 2 of the indigenously developed Vande Bharat Express train has been completed. The testing of the new Vande Bharat version will start from the month of April and the production of this train will start from next August-September, the Railway Minister further stated.
Vaishnaw also said Indian Railways have a very important role in the PM Gatishakti Framework. In this Union Budget, the PM Gati Shakti Master Plan would include higher spending for road, railways, ports and mass transport. In order to help local businesses and supply chains, concept of ‘One Station One Product’ will be popularized, the FM said. Also, as a part of the Atmanirbhar Bharat initiative of the Modi government, 2,000 kilometres of the Indian Railways network will be brought under Kavach in the financial year 2022-23. The indigenously-developed Kavach is a world-class technology for safety and capacity augmentation. This anti-collision tech is SIL4 certified, which means there is single error probability in 10,000 years.