UNION BUDGET 2023-24
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Union Budget 2023-24: Budget Speech by Union Finance Minister Smt. Nirmala Sitharaman
HIGHLIGHTS & ANALYSIS
Railway Budget 2023 – 24 Live Updates:
11: 32: A capital outlay of Rs. 2.40 lakh crores has been provided for the Indian Railways. This is the highest ever outlay and about 9 times high outlay made in 2013-2014.
Budget Allocation for Railway increased manifold are mentioned below:
- 2009-14: Rs. 10,623 Crore Average Yearly
- 2014-19: Rs. 24,347 Crore Average Yearly
- 2022-23: Rs. 77,271 Crore Average Yearly
- 2023-24: Rs. 2,40,000 Crore Average Yearly
Other Insights:
- 100 critical transport infrastructure projects for last and first mile connectivity for ports, coal, fertilizers and food grains have been identified on priority with an investment of Rs. 75000 crore including Rs. 15000 crore from private sources.
- The Government of India has allocated Rs. 3596 crores to the country’s first Regional Rapid Transit System (RRTS) project.
- The concept of the Vande Metro, a rapid, world-class shuttle-like experience for passengers, is underway, with the design expected to be completed this year.
- Rs. 4,600 Crore allocated for Gauge Conversion for fiscal year 2023-24.
- Rs. 30,749 Crore is allocated for doubling of railway lines for fiscal year 2023-24.
- Rs. 1255 Crore is allocated for Bridge Works for fiscal year 2023-24.
- Rs. 8,000 Crore is allocated for ROB/RUB Construction for fiscal year 2023-24.
- Rs. 39,660 Crore is allocated for New Rail Lines for fiscal year 2023-24.
- Rs. 51,510 Crore is allocated for Rolling Stock Production for fiscal year 2023-24.
- Rs. 17,296 Crore is allocated for track renewal works for fiscal year 2023-24.
- Indian Railways carried out record passenger ridership of 4,746.45 million in the financial year 2022-23.
- Railways to develop around 400 Vande Bharat Trains in next 3 years and more funds will be provided for new Vande Bharat 2.0 with sleeper class.
- Railways to refurbish more than 1,000 coaches of premier trains such as Rajdhani, Shatabdi, Duronto, Humsafar and Tejas Express.
- Railways aim to manufacture 100 more Vistadome coaches with an aim to attract more tourists.
- An expert committee will review the Harmonized Master List of Infrastructure for the classification and financing framework suitable for Amrit Kaal.
- 1275 railway stations are under redevelopment phase under Amrit Bharat Station Scheme.
- Vande Bharat Trains now to be designed and manufactured in Latur, Sonipat and Raebareily from this year.
- Hydrogen Trains to be manufactured under Atma Nirbhar Bharat Scheme by the end of this year.
- Special focus on the Bullet Train project in Maharashtra this year.
- 5 to 6 more corridors to be added for Bharat Gourav Tourist Trains to attract more tourists.
- Rs. 20,464 Crore is allocated for Electricity for Traction in fiscal year 2023-24.
- Rs. 425 Crore is allocated for computerisation of railway in fiscal year 2023-24.
- Rs. 6,715 Crore is allocated for Traffic Facilities – Yard Remodelling and Others work in fiscal year 2023-24.
- Rs. 61.50 Crore is allocated for Railway Research in fiscal year 2023-24.
- Rs. 700 Crore is allocated for Road Safety Works – Level Crossings in fiscal year 2023-24.
- Rs. 4198.22 Crore is allocated for Signalling and Telecom work in fiscal year 2023-24.
- Rs. 8070 Crore is allocated for Electrification Projects in fiscal year 2023-24.
- Rs. 1650 Crore is allocated for Other Electrical Works in fiscal year 2023-24.
- Rs. 4600.50 Crore is allocated for Workshop Including Production Units in fiscal year 2023-24.
- Rs. 9,929 Crore is allocated for Production of energy efficient three phase electric locos in fiscal year 2023-24.
- Rs. 1200 Crore is allocated for Dum Dum airport New Garia via Rajerhat construction of Metro railway New Garia (Kavi Subhas) Biman Bandar in fiscal year 2023-24.
- Rs. 1350 Crore is allocated for Joka Binoy Badal Dinesh Bagh via Majerhat construction of Metro Railway in fiscal year 2023-24.
- Rs. 15,241 Crore is allocated for Dedicated Freight Corridor Corporation of India Ltd. in fiscal year 2023-24.
- Rs. 500 Crore is allocated for Kolkata Metro Rail Corporation Limited in fiscal year 2023-24.
- Rs. 20,592 Crore is allocated for National High Speed Rail Corporation Limited in fiscal year 2023-24.
- Rs. 900 Crore is allocated for Bengaluru Suburban Transport Project by K-RIDE in fiscal year 2023-24.
State-wise allocation of funds:
- Rs. 17,507 Crore is allocated for railway infrastructure and safety projects to Uttar Pradesh
- Rs. 6,003 Crore is allocated for railway infrastructure and safety projects to Jammu Kashmir
- Rs. 5,271 Crore is allocated for railway infrastructure and safety projects to Jharkhand
- Rs. 4,762 Crore is allocated for railway infrastructure and safety projects to Punjab
- Rs. 2,247 Crore is allocated for railway infrastructure and safety projects to Haryana
- Rs. 10,012 Crore is allocated for railway infrastructure and safety projects to Odisha
- Rs. 2,477 Crore is allocated for railway infrastructure and safety projects to Delhi
- Rs. 8,332 Crore is allocated for railway infrastructure and safety projects to Gujarat
- Rs. 2,033 Crore is allocated for railway infrastructure and safety projects to Kerala
- Rs. 13,539 Crore is allocated for railway infrastructure and safety projects to Maharashtra
- Rs. 10,269 Crore is allocated for railway infrastructure and safety projects to North East
- Rs. 1,838 Crore is allocated for railway infrastructure and safety projects to Himachal Pradesh
- Rs. 8,505 Crore is allocated for railway infrastructure and safety projects to Bihar
- Rs. 5,004 Crore is allocated for railway infrastructure and safety projects to Uttarakhand
- Rs. 4,418 Crore is allocated for railway infrastructure and safety projects to Telangana
- Rs. 8,406 Crore is allocated for railway infrastructure and safety projects to Andhra Pradesh
- Rs. 9,532 Crore is allocated for railway infrastructure and safety projects to Rajasthan
- Rs. 6,008 Crore is allocated for railway infrastructure and safety projects to Chhattisgarh
- Rs. 7,561 Crore is allocated for railway infrastructure and safety projects to Karnataka
- Rs. 6,080 Crore is allocated for railway infrastructure and safety projects to Tamil Nadu
- Rs. 13,607 Crore is allocated for railway infrastructure and safety projects to Madhya Pradesh
- Rs. 11,970 Crore is allocated for railway infrastructure and safety projects to West Bengal
