Rail Budget 2022 | Modernisation, new Vande Bharat trains and more: Indian Railway gets over Rs 1,40,000 crore

Rail Budget 2022: With new energy-efficient, Vande Bharat trains, One station One Product scheme and modernization of Indian railways, FM Sitharaman on Tuesday allocated the Ministry of Railways with an annual budget of over Rs 1,40,000 crores.

Rail Budget 2022 | Modernisation, new Vande Bharat trains and more: Indian Railway gets over Rs 1,40,000 crore

New Delhi | Jagran News Desk: Rail Budget 2022- In the annual budget for the Fiscal year 2022-23, FM Nirmala Sitharaman on Tuesday announced that the Railway Ministry has been allocated Rs 140367.13 crore in the Union Budget 2022, that is Rs 20,311 crore more than the revised figures of the previous fiscal.

Finance Minister Nirmala Sitharaman in her Budget speech for 2022-23 said that India will manufacture 400 new, energy-efficient Vande Bharat trains in the next three years. The rail sector will also develop “One Station One Product”, which will leverage local produce carried on the railways.

Under the Rail Budget 2022, FM Nirmala Sitharaman announced that they will bring about 2000 Km of rail network under the indigenous world-class technology KAWACH for safety and capacity augmentation.

Meanwhile, Railway Minister Ashwini Vaishnaw welcomed the announcement and said that the integration of posts and railways will bring better logistics solutions for people living in remote areas.

He also said that the Railways will introduce new products and services for small farmers and enterprises.

The Budget has also earmarked Rs 38686.59 crore for investment in PSUs, joint ventures and special purpose vehicles.

The allocation for the development of rolling stock, which will be instrumental in bringing in new modern coaches and technology to the national transporter, has been kept at Rs 7977 crore.

The FM has also allocated Rs 15710.44 crore to the Dedicated Freight Corridor (DFC), whose assets will be monetised by the Railways for operations and maintenance.

It has also allocated Rs 13335.47 crore for track renewal, Rs 2850 crore for gauge conversion and Rs 12108 crore for doubling. A sum of Rs 25243 crore has been allocated for new lines as well.

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