Railway Budget 2024-25 FAQs: The upcoming Railway Budget 2024-25 holds significant implications for India’s extensive rail network and its passengers. As the annual financial blueprint crafted by the Centre for Indian Railways, it not only charts out expenditures to meet revenue targets but also paves the way for extensive infrastructure development. This budget is based on a meticulous review of past fiscal performances, projecting forthcoming financial strategies and allocations. From anticipated ticket fare adjustments to new train introductions and safety enhancements, the Railway Budget 2024 aims to address diverse public concerns while aiming to bolster connectivity, efficiency, and safety across the nation’s expansive railway network.
What will the Railway Budget 2024-25 entail?
The Railway Budget, as its name implies, is the annual financial statement of the Centre for the Indian Railways. It outlines the expenditure needed to achieve revenue targets and facilitate the development of the railway network. This comprehensive budget is based on a thorough review of the previous year’s financial performance, including actual receipts and expenditures. It also includes projections for the upcoming year’s finances, both expected revenues and planned expenditures. Additionally, the budget incorporates proposals to fulfill the upcoming year’s requirements for infrastructure, operations, and enhancements across the railway sector.
Who will present the Railway Budget this year?
The Railway Budget will be presented by Finance Minister Nirmala Sitharaman.
When will Railway Budget be announced?
The Railway Budget will be announced during the Union Budget 2024-25 speech on July 23, 2024. The Union Budget speech will start at 11:00 PM.
Who is the Railway Minister?
Ashwini Vaishnaw took charge of the Ministry of Railways on June 9, 2024, for the second time under Modi regime.
Will the Railway Budget lower ticket prices for passenegers this year?
In February 2024, Indian Railways had reduced the ticket prices to pre-covid era. Earlier, commuters had to pay express fare for passenger train travel. However, no such reduction is expected in the upcoming budget.
Will there be any cuts for Senior Citizens in train fares?
In March 2020, Indian Railways discontinued the discounts on train fares that were previously offered to senior citizens. This decision ended the 50% discount for female senior citizens and the 40% discount for male and transgender senior citizens. As a result, senior citizens are now required to pay the full fare, like all other passengers.
Although experts believe that there might be some relief in train fares for the senior citizens in the upcoming budget, not much can be said about the train fares that will be applicable in Vande Metro or Vande Bharat sleeper trains.
Will there be any new trains introduced or existing routes expanded this year?
The budget this year might prioritize passenger capacity and safety improvements. This could involve increasing the number of coaches, upgrading existing trains, or focusing on new Vande Bharat categories (Vande Metro, Chair Car, Sleeper). However, there could be announcements related to introduction of more Vande Bharat trains on specific routes or expansion of the recently launched NaMo Bharat trains.
Is there any focus on upgrading railway infrastructure to reduce travel time and improve connectivity?
Certainly! Enhancing railway infrastructure to reduce travel time and enhanced connectivity is always the primary objective of the Indian Railways. Key initiatives include implementing high-speed rail projects such as the Mumbai-Ahmedabad Bullet Train, which aims to drastically cut down travel durations between major cities. Station redevelopment plans involve modernizing facilities to streamline passenger movement and improve amenities, expediting boarding and disembarking processes. Additionally, efforts in double tracking and electrification of tracks aim to increase train capacity and efficiency, particularly on freight routes. Dedicated freight corridors are being developed to segregate freight traffic, ensuring smoother and faster movement of goods. Upgrades in signaling systems like the Train Collision Avoidance System (TCAS) further bolster safety and enable higher train frequencies, potentially reducing overall travel times. These combined efforts are designed to create a more effective and time-efficient railway network throughout India.
Will this budget announce launch of Mumbai-Ahmedabad Bullet Train this year?
Current estimates suggest the Mumbai-Ahmedabad Bullet Train project is aiming for an August 2026 launch. The Railway Budget typically focuses on allocations and plans for the upcoming fiscal year (April 2024 – March 2025). However, India’s inaugural bullet train project saw a substantial increase in funding in the Interim Budget. The allocation for the National High-Speed Rail Corporation, which oversees the Bullet Train project, was raised to Rs 25,000 crore for FY 2024-25, up from Rs 18,592 crore in the previous year. The funds will likely be used for furthering construction activities on the Mumbai-Ahmedabad High-Speed Rail Corridor and also support further design, engineering, and procurement activities for the project.
How is the Railway Budget going to ensure safety of passengers?
The massive train accidents in the past year has really pulled focus of the Centre to ensure the safety of passengers. The upcoming railway budget is expected to take this into consideration and design the allocation accordingly. The installation cost of Kavach on railway tracks, including station equipment, is reportedly Rs 50 lakh per kilometre. And not just that, training programs for railway staff to handle emergency situations effectively and awareness campaigns for passengers regarding safety protocols, will also require manpower and proper budget. Appropriate allocation is also anticipated for regular maintenance schedules and stringent safety inspections of trains, tracks, and stations to ensure compliance with safety standards.
Will there be any announcements regarding launch of Amrit Bharat Express, Vande Bharat Sleeper, and Vande Metro?
Although there is no official confirmation regarding new trains in the upcoming budget, Railway Minister Ashwini Vaishnaw had recently unveiled a significant expansion plan for India’s rail network. He had announced the production of 2,500 new general passenger train coaches along with approval of an additional 10,000 coaches. He emphasised ongoing efforts to improve service quality, safety, and cleanliness throughout railway operations. Vaishnaw informed reporters that production had commenced for an additional 50 Amrit Bharat trains. This follows the successful launch by Prime Minister Narendra Modi of two such trains last year, operating between Maldah and Darbhanga. PM Modi inaugurated the Darbhanga-Ayodhya-Anand Vihar Terminal Amrit Bharat Express and the Malda Town-Sir M. Visvesvaraya Terminus (Bengaluru) Amrit Bharat Express in December 2023.
What all does the Finance Ministry take into consideration while designing Railway Budget?
The Finance Ministry considers various critical factors when designing the Railway Budget. Key aspects include financial resources available for investment in infrastructure, safety enhancements, and operational improvements. Infrastructure development priorities such as new lines, electrification projects, and station modernization are evaluated based on strategic importance and economic viability. Safety measures, including technology upgrades and staff training, are allocated funds to ensure passenger and crew safety. Additionally, the budget addresses passenger services, focusing on amenities, digital initiatives, and freight transport capabilities to boost revenue and economic efficiency. Environmental sustainability initiatives and regional development priorities are also factored in, aligning with national goals and public feedback. The budget’s design aims to balance these considerations to optimize the efficiency, safety, and service quality of the Indian Railways while fostering economic growth and meeting public expectations.
How does the Railway Budget aim to contribute to job creation and economic growth in the country?
The Railway Budget fuels job creation by investing in infrastructure projects. Building new lines and stations requires construction workers, engineers, and factory workers producing materials and trains. This boosts manufacturing and related industries like steel. Improved railway networks connect markets, reduce transportation costs for businesses, and lead to cheaper goods for consumers. This cycle stimulates economic activity and creates a competitive market. The railways themselves are major employers, offering skilled and unskilled jobs across the country.