Indian railway is known for its big rail network that provides employment opportunities for large number of Indians. The Finance Minister of India, Arun Jaitley presented the Indian Railway Budget for the second consecutive year with the general budget.
The Indian Finance Minister Arun Jaitley presented a general budget for the fiscal year 2018-19. This time rail budget was presented with a public budget. About 2.3 million people travel daily in India daily. In such a way, railway facilities directly affect the general public of the country.
The announcements made by the Finance Minister :-
- Strengthening of Railway Infrastructure and enhancing the capacity of the Railways is one of the main goals of the government. The budget of Rs 1,48,558 crore has been allocated for the Railways for the year 2018-19. Much of this has been kept for Capacity Creation.
- The rail line of 18000 km will be doubled.
- Government's goal of triple and quadruple 3 to 4 thousand km line
- The government will do all the narrow gauge to Broad Gauge.
- The electrification target of 4,000 km rail line was kept last year is complete.
- The Western and Eastern Dedicated Freight Corridors are in full swing.
- 12000 wagons, 5000 coaches 700 engines were built last year.
- Under the Safety First Policy, the adequate amount will be provided under the National Railway Protection Fund.
- Special attention has been given to improving track infrastructure. The goal of improving the track of 3,6000 km has been kept in the current financial year.
- Techniques for fog protection and train safety will be taken. It has been decided to finish 4,267 non-unmanned railway crossings in the next two years.
- Indian Railway Station Company Limited is reconstructing 600 major railway stations. Escalators will be installed in more than 25 thousand people per day from the railway station.
- Wi-Fi and CCTV will be installed in all railway stations and trains.
- While announcing a major announcement for the Mumbai Local Railway, the Finance Minister announced that the 90-km Double Track will be added to the Mumbai Local Railway. For this, a provision of Rs 11 thousand crores has been allocated.
- Additional Arab network of 150 km will be built in Mumbai. The cost of which is approximately 40 thousand crore rupees. It will also be elevated in some areas.
- Announcing the 160 km long Sub Urban Project for Bangalore, at a cost of 17,000 crores.
Previous Budget Allocations
In 2017-18, the total capital and development expenditure of the Railways was Rs. 131,000 crores. Including 55,000 crore rupees provided by the government. In this way, the finance minister emphasized the improvement in rail infrastructure, passenger safety, passenger amenities in the budget. He did not announce any new train in the budget speech.
Rail incidents show effect on budget
There were about 35 major rail accidents. In such a situation, the government informed in a report presented in Parliament that 29 railway accidents were reported in the first 6 months of last year. In which 58 people lost their lives. Last year, due to the derailment of the trains, 69 percent of rail accidents were reported, which was 60 percent in 2016-17.
Improvements in infrastructure will benefit companies that supply rail equipment. This will provide direct benefits to contractors.