Railway Budget 2022-23: Budgetary allocation to Indian Railways for Vande Bharat, world-class safety tech & more

The Finance Minister has allocated an amount of Rs 1,40,367.13 crore to the Ministry of Railways in this year’s Budget.

Railway Budget 2022-23: Indian Railways to launch more semi-high speed trains in the coming years! Today, the Union Budget for the financial year 2022-23 was presented by Finance Minister Nirmala Sitharaman in the parliament. The Finance Minister has allocated an amount of Rs 1,40,367.13 crore to the Ministry of Railways in this year’s Budget. From the introduction of the new generation Vande Bharat Trains to One Station One Product concept, the Finance Minister has made many major announcements for the national transporter. Take a look at the key announcements below, made by FM Sitharaman today in her Budget Speech of fiscal 2022-23 for Indian Railways:

  • The national transporter will develop new products along with efficient logistics services for small farmers as well as Small and Medium Enterprises, apart from taking the lead in integration of Postal and Indian Railways networks in order to provide seamless solutions for the movement of parcels, the FM said.
  • Also, according to Sitharaman, concept of ‘One Station One Product’ will be popularized in a bid to help local businesses as well as supply chains.
  • As a part of the Modi government’s Atmanirbhar Bharat initiative, 2,000 kilometres of the rail network will be brought under Kavach, the indigenous world-class technology for safety as well as capacity augmentation in the financial year 2022-23.
  • During the next three years, as many as 400 new generation Vande Bharat Express Trains with better energy efficiency and better passenger riding experience will be developed and manufactured, the minister announced.
  • Moreover, during the next three years, one hundred PM GatiShakti Cargo Terminals for multimodal logistics facilities will be developed, Sitharaman stated in her Budget speech.

Meanwhile, the FM has also mentioned that innovative ways of financing, as well as faster implementation, will be encouraged for building metro systems of appropriate type at scale. Also, multimodal connectivity between railway stations and mass urban transport will be facilitated on a priority basis. Besides, metro systems’ design, including civil structures, will be re-oriented and standardized for Indian conditions and requirements, Sitharaman said.

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

Most Read In Railways
Photos