Finance Minister Nirmala Sitharaman announced to provide 1.1 lakh crore rupees for Indian Railways in FY22 in the Union Budget 2021. The Finance Minister said that in FY 2022, a provision of 1.07 lakh crore will be made for capital expenditure. Sitharaman has also announced a new railway plan of the Indian Railways ready for the future by 2030.
The Finance Minister said that the Eastern and Western Freight Corridors will be operational by June 2022. A part of the Dedicated Freight Corridor will be built on the Public-Prevent Partnership Mode (PPP Mode). Presenting the Union Budget for 2021-22, he said that the Railways would monetize the Freight Corridor.
He said that the government would start projects for the development of the freight corridor in the future. He announced that we will work towards increasing the share of public transport with 18,000 crores. He announced that metrolyte and metrono technologies will be deployed in Tier-2 cities.
The Finance Minister said that by December 2023, 100 broad gauge rail tracks will be electrified. In her budget speech, Sitharaman also said that a national monetization pipeline for potential brownfield infrastructure assets would be launched and demerits of GAIL (India) Limited, Indian Oil Corp (IOC) and HPCL’s pipelines.
The government on Monday announced a plan of Rs 18,000 crore to increase public transport in urban areas. In the first paperless Union Budget, Finance Minister Nirmala Sitharaman said that by December 2023, there will be 100 percent electrification of broad gauge rail tracks. He also said that Rs 1,10,055 crore will be made available to the Railways, out of which 1,07,100 crore will be for capital expenditure in 2021-22.