Railway Budget 2024: Union Finance Minister Nirmala Sitharaman did not make any major announcements for the railways. However, the government increased the net revenue expenditure of the Indian Railways by Rs 20 crore to Rs 2,78,500 crore for 2024-25, compared to Rs 2,58,600 crore in the Revised Estimate for 2023-24.
The government did not announce any manufacturing-linked incentive in the railway sector since it was being expected. The government's priority will remain focused on the Vande Bharat train portfolio including its sleeper and metro versions to enhance the commuter experience.
Apart from this, some railway announcements were made for Bihar.
In the economic survey, fast capacity augmentation, modernisation of rolling stock, and energy efficiency were among the key focus areas for Railways, the Economic Survey 2023-24 said, highlighting Outlook's for Railway.
"In line with this, investments are prioritised in areas like dedicated freight corridors, high-speed rail, modern passenger services like Vande Bharat, Amrit Bharat Express, Aastha Special Trains, high-capacity rolling stock and last-mile rail linkages," the Survey said.
It said that the Railways is planning projects for three major corridors -- High-traffic density corridors, Energy, Mineral and Cement Corridors, and Rail Sagar (port connectivity) corridors -- to reduce logistics cost and carbon footprint.
The survey said that the Railways has planned to reduce its carbon footprint primarily through sourcing its energy requirements through renewable energy sources.
"The expected requirement of installation of renewable capacity by 2029-30 is around 30 Giga Watts. Other strategies include shifting from diesel to electric traction, promotion of energy efficiency and afforestation," it said.
"Carbon emission by 2029-30 as per business-as-usual mode is estimated to be 60 million tonnes.
"As of March 2024, 231 Mega Watt (MW) of solar plants (both on Rooftops and on land) and about 103 MW of wind power plants have been commissioned. Further, about 5,750 MW of renewable capacity has also been tied up," the survey said.
With inputs from PTI
ALSO READ | Budget 2024: Key announcements by Finance Minister Nirmala Sitharaman
