NEW DELHI: Struggling to cope with revenue shortfall from passenger services in 2021-22, Indian Railways is expecting enhanced budgetary outlays in this year’s railway budget, scheduled to be presented along with the general budget on February 1.
According to sources, an increase of around 100% is expected, for infrastructure requirements and other projects.
The Centre had made an allocation of around Rs 1.10 lakh crore in the railway budget of 2020-21. For 2022-23, this could be more than Rs 2.50 lakh crore to meet new requirements under the National Railway Plan 2030.
“The railways has also decided in principle to work out for four new high-speed rail corridors apart from the eight already sanctioned projects. For these, a sea of earmarked fund would be required,” said a senior railway official, preferring anonymity.
The railways had suffered a colossal loss of around 26,338 crore from passenger services last year due to the Covid-19 crisis, so increase in budgetary allocation is unavoidable this year.
As the railways mulls creation of more freight corridors to increase earnings from freight services, a separate hiked allocation is also expected this time.
The railways is also expecting the government to create more avenues for promoting the PPP mode and participation of private players.
Plus, there is thrust on Railways to be the world’s first green railways by replacing all conventional sources of energy by solar power.
“Around 7,000 stations are to be fully equipped with solar power generating panels. Side by side, 100% railway track electrification is targeted by 2030. For all this, substantial increase in allocations is expected,” said the source.
Focus areas
Focus is also expected to on hyper loop technology to run trains through tunnels in addition to the bullet train facility. There could also be allocation for developing railways networks in N-E.