As part of Budget 2021 speech, FM Nirmala Sithraman announced a record sum of Rs 1,10,055 crore for Indian Railways in FY22, out of which Rs 1,07,100 crore will be used for capital expenditure.
Sitharaman also proposed a new rail plan for future ready Indian Railways by 2030. "Indian Railways have prepared a National Rail Plan for India 2030. The plan is to create a future ready railway system by 2030, bringing down the logistic cost for industry is at the core of the strategy to enable 'Make In India'," said Sitharaman.
Also Read | Budget 2021: Funds for Nagpur and Nashik Metro proposed by Finance Minister
She also said national transporter will monetise the Dedicated Freight Corridor (DFC) asset after commissioning. The DFC is one of the largest rail infrastructure projects undertaken by the government, entailing a cost of around Rs 81,459 crore.
The Dedicated Freight Corridor Corporation of India Limited (DFCCIL) has been set up as a Special Purpose Vehicle to plan, develop, mobilise financial resources, construct, maintain and operate the DFC.
In the first phase, the organisation will construct the Western DFC (1,504 route km) and Eastern DFC (1,856 route km), a total of 3,360 route km.
Sitharaman also said that broad gauge route electrification is expected to reach 46,000 kms that is 72 per cent by the end of 2021 from 41,548 km from October 1, 2020.
Also Read | Budget 2021: Poll-bound states get an infra push
"Hundred per cent electrification of the broad gauge routes will be completed by December 2023," she said.
Stressing on the passenger convenience and safety, she said that Railways will introduce the aesthetically designed vistadome LHB coach on tourist routes for better travel experience to the passengers.
Also Read | Budget 2021: India to launch Deep Ocean Mission, says FM Nirmala Sitharaman
"The safety measures taken in the last few years have borne results. To further strengthen this effort high density network and highly utilised network routes will be provided with indigenously designed automatic train collision system that eliminates train collision due to human error," the Finance Minister said.
(With inputs from IANS)