Finance Minister Nirmala Sitharman on Monday announced to provide ₹1.1 lakh crore for Indian Railways in FY22 in Union Budget 2021. Of the total, ₹1.07 lakh crore of provision to Indian Railway in FY22 will be for capital expenditure, Sitharaman said.
"Indian Railways has prepared a National Rail Plan for India 2030. The plan is to create a future-ready railways system by 2030 - bringing down the logistic cost for the industry is at the core of a strategy to enable Make in India. I am providing a record sum of Rs 1,10,055 crores for Railways of which Rs 1,07,100 crores is for capital expenditure only," she said.
Also Read: Union Budget App: Access Budget 2021 documents on your smartphone. Details here
Presenting the Union Budget for 2021-22, she said Railways will monetise dedicated freight corridors and that the plan of the government is to create a future-ready Railways system by 2030.
The government will undertake future freight corridor development projects, she further said.
"We will work towards raising the share of public transport with an outlay of ₹18,000 crore," she announced.
The Finance Minister said to further strengthen, high-density network and highly utilised network routes of Railways will be provided with indigenously developed automatic train protection system that eliminates train collision due to human error.
"High-density rail networks and highly utilized rail routes to be provided with indigenously developed automatic train protection system which will eliminate train collision due to human error 100 per cent electrification of rail broad gauge routes to be completed by December 2023," she added.
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