What to Expect for Railways in 2024 Budget
The NDA government is also committed to expanding Vande Bharat trains nationwide, available in Sleeper, Chaircar, and Metro models.
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The Indian Railways is poised for major changes with a budget of Rs 2.5 lakh crore for 2024-25, as revealed in the interim budget in February, following the previous year's allocation of Rs 2.4 lakh crore.
This year, the focus will be shifted towards Vande Bharat trains as it has been five years since they were introduced. With railways planning to increase the speed of Vande Bharat trains, the government is likely to allocate sufficient funds for track upgrades.
The NDA government is also committed to expanding Vande Bharat trains nationwide, available in Sleeper, Chaircar, and Metro models.
Despite a 5% budget increase, safety remains a concern, with systems like KAVACH installed on only a fraction of the network.
The budget may prioritise increasing passenger capacity and safety, upgrading trains, and expanding Vande Bharat routes.
Major initiatives consist of the Mumbai-Ahmedabad High-Speed Rail and enhancements to railway stations aimed at improving the flow of passengers.
Efforts in double tracking, electrification, and dedicated freight corridors aim to improve efficiency and capacity. Signalling upgrades like the Train Collision Avoidance System enhance safety and train frequency.
Investing in networks reduces transportation costs, stimulates economic activity, and enhances market connectivity.
These initiatives aim to enhance passenger experience, safety, and economic growth through comprehensive modernisation of the Indian Railways.
The Modi’s government aims to develop railways by allocating a significant portion in the ensuing budget. The 2024 Railway Budget will be tabled in the Parliament alongside Union Budget 2024 by Finance Minister Nirmala Sitharaman on July 23.
