Indian Railways gets all-time highest allocation of  Rs 1.58 lakh crore in Budget

Apart from promising the indigenously developed Vande Bharat Express, interim Finance Minister Piyush Goyal also claimed that all unmanned level crossings on broad gauge have been eliminated.

Published: 01st February 2019 03:14 PM  |   Last Updated: 01st February 2019 03:14 PM   |  A+A-

Train, Indian Railways

Image used for representational purpose.

By PTI

NEW DELHI: Finance Minister Piyush Goyal on Friday announced a capital expenditure allocation of Rs 1.58 lakh crore for the Railways, the highest ever for the national transporter, in an effort to put its flagging revenues back on track.

Last year, then finance minister Arun Jaitley had allocated an amount of Rs 1.48 lakh crore for the Railways in his budget. Goyal, who is also the Railway minister, said so far 2018-2019 has been the safest for the Indian Railways and all unmanned level crossings on the broad gauge network have been completely eliminated. "Capital expenditure programme of the Railways is at an all-time high of Rs 1.58 lakh crore in the next financial year. Vande Bharat Express, indigenously developed semi-high speed train, will give Indian passengers world-class experience. This major leap in wholly developed technology by our engineers will give an impetus to the Make in India programme and create jobs," he said in his debut budget speech.

The budget estimates under revenue for the year 2019-20 (gross) is Rs 2,72,705.68 crore, recording an increase of Rs 22,854.67 crore over the revised estimates of Rs 2,49,851.01 crore for 2018-19.

In the budget, funds of Rs 7,255 crore have been allocated for construction of new lines, Rs 2,200 crore for gauge conversion, Rs 700 crore for doubling, Rs 6,114.82 crore for rolling stock and Rs 1,750 crore for signalling and telecom.

Goyal also announced that the operating ratio for the current fiscal has improved to 96.2 percent, and in the next financial year the aim will be to lower it to 95 percent. No railway fare hike was announced in the Railway Budget for 2019.

With the Lok Sabha elections are slated to be held in April-May 2019, the planned expenditure would be a 148 per cent hike from the levels of 2014. Developing passenger amenities has been allocated a sum of Rs 3,422 crores which is an additional outlay of around Rs 1,000 crore for the comfort of rail users.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp