DoT to set up 5G development centre in tie-up with IIT Chennai
The Finance Minister has announced that the Department of Telecom will set up a development centre to work on ...
There will be focus on new infrastructure, with highest allocation for railways and road sector, the Finance Minister Arun Jaitley said in the budget.
For railways, he said electrification will be undertaken at “optimal” pace. People can use modern train-sets being developed at ICF, to be introduced next year. He also spoke about having suburban systems in Bengaluru.
In FY 2019, Railways has an allocation of over Rs 1,48,000 crore plan. Of this, the market borrowings are expected to be in the range of about Rs 55,000 crore. They include extra budgetary resource – institutional finance of about Rs 26,400 crore, to be used for project finance; and Rs 28,500 crore for for procuring rolling stock.
The FM said that adequate number of rolling stock – 12,000 wagons, 5,160 coaches and approximately 700 locomotives are being procured during 2018-19.
In FY 2018, the budget estimate plan was Rs 1,31,000 crore, of which Rs 55,000 crore was budgetary support. The extra budgetary resources were at Rs 76,000 crore for the overall railways of which Rs 40,000 crore was to be raised through IRFC.
Mumbaikars and Bengaloreans are expected to get bonanza through expansion and introduction of suburban networks. Meanwhile, there could be challenges railways passenger movement as the Government aims to widen its Udaan scheme.