New Delhi | Jagran Business Desk: Today on Feb 1, Finance Minister Nirmala Sitharaman presented the Union Budget for the fiscal year 2021-22. She gave out some major announcements for the railway budget which included a record sum of Rs 1.10 lakh crore. Out of the huge amount, Rs 1.7 lakh crore has been scooped out for capital expenditure. She said, “I am announcing a record sum of Rs 1,10,055 crore for railways of which Rs 1,07,100 crore is for capital expenditure only.”

Presenting the Union Budget 2021-22, Sitharaman also applauded the services provided by the Railways to transport essential goods across the country during the coronavirus lockdown

Apart from this, madam Finance Minister also announced that ‘green railways’ project will be in focus, meanwhile 46,000 new rail lines will be launched. Nirmala Sitharaman further announced a railway safety fun and Rs 63,000 crore for Chennai Metro line. "Indian Railways have prepared a National Rail Plan for India 2030. The plan is to create a future ready railway system by 2030 bringing down the logistic cost for industry is at the core of the strategy to enable Make In India."

Sitharaman also mentioned that the next lot of airports to be privatized in tier 2 and 3 towns and cities.

Broad gauge route electrification of routes will be complete by December 2023. Meanwhile now, by the end of this year the broad gauge route is expected to reach 46,000 kms which accounts to 72per cent by the end of this year.

Stressing on the passenger convenience and safety, Sitharaman said, “The safety measures taken in last few years have borne results. To further strengthen this effort high density network and highly utilised network routes will be provided with indigenously designed automatic train collision system that eliminates train collusion due to human error.”

This year’s budget regarding railways is also a way to compensate for the losses faced by the rail ministry during COVID-19 outbreak.

With inputs from PTI

Posted By: Sanyukta Baijal