The government has recently declared the initiation of three significant economic railway corridor programs in the Indian Railway Budget 2024. These programs are designed to improve logistics efficiency and minimize expenses. Stay updated with the latest developments in Rail Budget 2024-25.
Railway Budget 2024
The Union Budget 2024-25 was presented by Finance Minister Nirmala Sitharaman today, on February 1, 2024, at 11 am in Parliament. As part of the PM Gati Shakti initiative, the government has announced the implementation of three major economic railway corridor programs. These programs aim to improve logistics efficiency and reduce costs by focusing on energy, mineral, and cement corridors, port connectivity corridors, and high traffic density corridors. By decongesting the high-traffic corridors, the operations of passenger trains are expected to improve, resulting in increased safety and faster travel speeds for passengers.
Furthermore, the conversion of forty thousand normal rail bogies to Vande Bharat standards will enhance passenger safety, convenience, and comfort. In the previous Union Budget 2023-24, the Ministry of Finance had allocated a capital outlay of Rs 2.40 lakh crore for the Indian Railways. This allocation was the highest-ever and nearly nine times the outlay made in the Financial Year 2013-14.
Union Minister Nitin Gadkari expressed his assurance on Thursday that the interim Budget 2024-25 will expedite India’s path towards achieving economic supremacy. He commended the inventive budget for its synchronization with Prime Minister Modi’s commitment to empowering farmers, women, youth, and the marginalized. In relation to X, he shared his perspective on…
In her presentation of the interim budget for 2024-25, Finance Minister Sitharaman revealed plans to implement three significant economic railway corridor programs and upgrade 40,000 regular railway bogies to Vande Bharat standards. These initiatives, she stressed, aim to address congestion in high-traffic corridors while enhancing the efficiency of passenger train operations. Through the establishment of dedicated economic corridors, the government aims to streamline rail traffic flow, thereby reducing bottlenecks and improving the overall railway infrastructure throughout the country.