Budget 2022: Railway ministry gets ₹1,40,367.13 crore. See key announcements
PremiumFinance minister Nirmala Sitharaman informed that the country will manufacture 400 new, energy-efficient Vande Bharat trains in the next three years
The Union Budget presented on Tuesday allocated ₹1,40,367.13 crore to the railway ministry – ₹20,311 crore more than the revised figures of the previous fiscal.
Further, finance minister Nirmala Sitharaman also informed that the country will manufacture 400 new, energy-efficient Vande Bharat trains in the next three years.
These new trainsets are going to be made of light-weight aluminium, as opposed to steel, making each around 50 tonnes lighter in weight, consuming much less energy than their steel counterparts, she said.
The rail sector will also develop “One Station One Product", which will leverage local produce carried on the railways, Sitharaman said in her budget speech.
The minister added that 100 PM Gati Shakti terminals would also be set up in the next three years.
“Railways will develop new products and efficient logistics services for small farmers and Small and Medium Enterprises, besides taking the lead in integration of Postal and Railways networks to provide seamless solutions for movement of parcels," said Sitharaman.
As a part of Atmanirbhar Bharat, a 2,000 km network will be brought under 'Kavach', the indigenous world-class technology for safety and capacity augmentation in 2022-23, she said.
The finance minister said 100 PM GatiShakti Cargo Terminals for multi-modal logistics facilities will be developed during the next three years.
In addition to this, the budget has given ₹15,710.44 crore to the Dedicated Freight Corridor (DFC), whose assets will be monetised by the Railways for operations and maintenance.
It has also allocated ₹13,335.47 crore for track renewal, ₹2,850 crore for gauge conversion and ₹12108 crore for doubling. A sum of ₹25,243 crore has been allocated for new lines as well.
Welcoming the announcements, railway minister Ashwini Vaishnaw 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.
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