In response to a recent Right to Information (RTI) query, the Ministry of Railways has unveiled staggering figures regarding the allocation of funds from the Union Budget to the railways sector. Over the past decade, spanning from 2014 to 2024, an unprecedented Rs 11,50,211 Crores has been earmarked by the Ministry of Finance for Railways as Gross Budgetary Support (GBS) for capital expenditure.
Government’s Investment In Railways Infrastructure And Safety
“This disclosure sheds light on the government’s monumental commitment to bolstering the infrastructure and development of the railway network across the nation. The allocated funds are vital for implementing various capital projects aimed at enhancing passenger safety, comfort, and the overall efficiency of rail transportation services” said an official.
“Among the key areas slated for investment are long-term infrastructure projects such as freight lanes and initiatives to introduce faster trains. Additionally, plans are underway to modernize the fleet with newer trains, carriages, and locomotives, along with updating signaling systems for improved efficiency and safety” he said.
Indian Railways: Driving Innovation, Efficiency And Inclusivity
“The substantial allocation underscores the strategic importance of the railways sector in India’s transportation landscape and reflects the government’s proactive approach towards addressing the growing needs of the nation. It signifies a concerted effort towards building a modern, efficient, and sustainable railway network to drive socio-economic development” said Ajay Bose RTI activist who sought the details.
” With a focus on innovation, efficiency, and inclusivity, India’s railways are poised to play a pivotal role in the nation’s journey towards becoming a global economic powerhouse” said.