Railway Budget 2023 Highlights: Makeover of 1,275 railway stations; Vande Bharat production at 3 more places, says Ashwini Vaishnaw

Indian Railways, the fourth-largest railway network in the world, has made several developments in order to improve its services and infrastructure. One major development is the launch of the “Vande Bharat Express“, India’s first semi-high speed train. This train, which can reach speeds of up to 160 km/h, has been manufactured indigenously by the Indian Railways’ Integral Coach Factory.

Indian Railways is likely to focus more on projects in Jammu and Kashmir, North East.

Indian Railway Catering & Tourism Corporation was trading 0.96 per cent higher at Rs 643.35, Jupiter Wagons rose 1.26 per cent, Texmaco Rail & Engineering rose 0.98 per cent, and Titagarh Wagons gained 0.74 per cent. Shares of K&R Rail Engineering surged 5 per cent to hit its upper circuit on the bourse. Finance Minister Nirmala Sitharaman will present Union Budget 2023-24 in a paperless format. (PTI)

Shares of railway-related companies, including Rail Vikas Nigam Ltd and IRCON International, witnessed an up-trend on Wednesday, ahead of the Union Budget presentation in Parliament. Market experts believe that shares of railway-related companies are in the focus as Dalal Street expects a boost to railways' capital expenditure. (PTI)

In the Union Budget 2022, Indian Railways was the big winner as Sitharaman had allocated Rs 1,40,367.13 crore. Railways Minister Ashwini Vaishnaw also praised the higher allocations. In the Union Budget 2021, a massive fund of Rs 1.10 lakh crore was allocated for the railways.

In the Union Budget 2022, Indian Railways was the big winner as Sitharaman had allocated Rs 1,40,367.13 crore. Railways Minister Ashwini Vaishnaw also praised the higher allocations. In the Union Budget 2021, a massive fund of Rs 1.10 lakh crore was allocated for the railways.

In the Union Budget 2023, the Indian Railways is likely to focus on the development of railway infrastructure across zones. It will also enhance passenger amenities.

Presenting the Union Budget 2022, the Finance Minister said that the concept of ‘One Station-One Product’ needs to be focused on. The scheme will be popularized to help local businesses and supply chains. 

In the Union Budget 2022-23, Finance Minister Nirmala Sitharman said that the national transporter will develop new products and efficient logistics services for small farmers and Small and Medium Enterprises. She further added that the Postal and Railways networks will be integrated to provide seamless solutions for the movement of parcels. 

The construction of the first river bridge on the Mumbai-Ahmedabad High Speed Rail Corridor (MAHSR) is in full swing. The 320 meters long bridge is being built on the Par river, located at Valsad district of Gujarat. The bridge has eight full span girders of 40 meters each. The height of the piers ranges from 14.9 meters to 20.9 meters.

Read more: https://www.financialexpress.com/business/railways-mumbai-ahmedabad-high-speed-rail-corridor-work-in-progress-japanese-delegation-visits-various-sites-2959649/

One hundred PM GatiShakti Cargo Terminals for multimodal logistics facilities to be developed during the next three years, Sithraman said in her Union Budget 2022.

Indian Railways has planned to introduce a newly designed Vista Dome LHB coach on tourist routes. This will give an excellent travel experience to the commuters. 

In the Union Budget 2023, the government is likely to provide more funds to the Ministry of Railways to strengthen the infrastructural projects. A lot of railway projects are currently underway across the country. 

Addressing both houses on January 31, President Droupadi Murmu said that Indian Railways is emerging as a modern institution and many inaccessible areas are being added to the rail map of the country. She further added that inaccessible areas of Jammu Kashmir and North East are also being connected by Railways. 

Presently, the Mumbai-Ahmedabad Bullet Train project is in full swing. The construction work has gained progress. 

The Survey further highlighted that the Indian Railway during FY22-23 carried over 976 million tonnes of revenue-earning freight traffic, as against 901.7 million tonnes during the corresponding period in FY21-22, which means it saw an increase of 8.3 percent.

There are many more initiatives taken by the Indian railways which include the Gati Shakti Multi-Modal Cargo Terminal, Mumbai-Ahmedabad High-speed Rail Project, Dedicated Freight Corridor Project, Induction of Vande Bharat Trains, and Electrical/Electronic Interlocking System among others.

The capital expenditure on Indian Railways’ infrastructure has also seen constant growth in the past four years with a Capex of Rs 2.5 lakh crore in FY23, up by around 29 percent compared to the previous year, as per the survey.

The Ministry of Railways has prepared a National Rail Plan for India. The plan is to create a future-ready railway station by 2030.

The government is likely to allocate more funds for the redevelopment of railway stations across the country. The names of a few more redevelopment of railway stations under the 'Amrit Bharat Station' scheme are likely to be announced.

The main focus of the Railway Budget is likely to be on the launches of more Vande Bharat trains on new routes and Vande Bharat with sleeper coaches, the introduction of hydrogen-powered trains, the laying of new tracks, etc.