Boost to National Railways in Union Budget 2021

The Union Finance Minister, Nirmala Sitharaman has proposed to spend Rs 1.1 lakh crore for railways in the fiscal year 2021 - 2022. In her budget speech, the finance minister has allocated Rs 1,10,055 crores for the railway's sector, with Rs 1,07,700 crores set aside for the capital expenditure.

Railways are one of the most affordable forms of transportation available in India. The railway's connectivity in India has improved phenomenally over the last few years.

She announced that western and eastern dedicated freight corridors to be commissioned by June 2022.

The Indian Railways is set to have a National Rail Plan for 2030. The Indian Railways national plan for India will prepare a future-ready railway system by 2030 noted finance minister during her budget speech.

The rail stocks traded high after the finance minister announced budgetary allocations for the railway's sector.

She also announced plans for east coast corridor, north-south corridor, east-west corridors. 100% electrification of broad-gauge routes are projected to be completed by December 2023.

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