Gross budgetary allocation for railroads to increase by 29% in budget
RAILWAYS & METRO RAIL

Gross budgetary allocation for railroads to increase by 29% in budget

According to a report, the Center is set to enhance the gross budgetary allocation for Indian Railways by 29%, from INR 1.4 trillion to INR 1.8 trillion, to fund infrastructure expenditures. The entire capital expenditure (capex) for the railway ministry is anticipated to increase 20% to INR 3 trillion in FY24, while the expenditure for FY23 was INR 2.45 trillion. “As the national transporter approaches a crucial stage of constructing important infrastructure projects, a higher capex budget is urgently required. Last year, the Center increased its gross funding assistance for the initiatives by a record amount. We anticipate it to rise even more,” said a former rail board chairman.

The ministry has also requested that the finance ministry give long-term infrastructure projects including high-speed trains, freight corridors, and railway modernization funding priority. The Ahmedabad-Mumbai bullet train project is also set to receive a sizeable amount of funding for FY24. The Vande Bharat Express between Howrah and New Jalpaiguri opened recently in West Bengal under the leadership of Prime Minister Narendra Modi. The Center was investing “record amounts” in modernisation. The upgrade of all stations, electrification, and doubling of train lines are also included in the modernisation plans. The ministry's gross budgetary support first surpassed the USD 1 trillion threshold in FY22. The ministry's capital expenditure budget allocation in FY23 was the biggest ever at INR 2.45 trillion.

According to a report, the Center is set to enhance the gross budgetary allocation for Indian Railways by 29%, from INR 1.4 trillion to INR 1.8 trillion, to fund infrastructure expenditures. The entire capital expenditure (capex) for the railway ministry is anticipated to increase 20% to INR 3 trillion in FY24, while the expenditure for FY23 was INR 2.45 trillion. “As the national transporter approaches a crucial stage of constructing important infrastructure projects, a higher capex budget is urgently required. Last year, the Center increased its gross funding assistance for the initiatives by a record amount. We anticipate it to rise even more,” said a former rail board chairman. The ministry has also requested that the finance ministry give long-term infrastructure projects including high-speed trains, freight corridors, and railway modernization funding priority. The Ahmedabad-Mumbai bullet train project is also set to receive a sizeable amount of funding for FY24. The Vande Bharat Express between Howrah and New Jalpaiguri opened recently in West Bengal under the leadership of Prime Minister Narendra Modi. The Center was investing “record amounts” in modernisation. The upgrade of all stations, electrification, and doubling of train lines are also included in the modernisation plans. The ministry's gross budgetary support first surpassed the USD 1 trillion threshold in FY22. The ministry's capital expenditure budget allocation in FY23 was the biggest ever at INR 2.45 trillion.

Next Story
Resources

Skyview by Empyrean is Making Benchmarks in the Indian Ropeway Industry

FIL Industries Private Limited, the parent company of Empyrean Skyview Projects that pioneered ropeway mobility solutions in India with Jammu’s Skyview Gondola, is currently developing the Dehradun-Mussoorie ropeway and is on track to complete Phase I by September 2026. The ropeway is set to be India’s longest passenger aerial monocable covering 5.8 km between the foothills of Dehradun in Purkulgam and MDDA taxi stand in the hills of Mussoorie in just under 20 minutes. The firm pioneered green mobility solutions in India with the development of the flagship Skyview Gondola in Jam..

Next Story
Technology

Creativity is for Humans, Productivity is for Robots!

On most construction sites, the rhythm of progress is measured by the clang of steel, the hum of machinery and the sweat of thousands. But increasingly, new sounds are entering the mix: the quiet efficiency of algorithms, the hum of drones overhead, and the precision of robotic arms at work. Behind the concrete and cables, an invisible force is taking hold: data. It is turning blueprints into living simulations, managing fleets of machines, and helping engineers make decisions before a single brick is laid. This is not the construction of tomorrow; it is the architecture of today – built on ..

Next Story
Infrastructure Urban

Bhartiya Urban Unveils ‘Bhartiya Converge’ GCC Enablement Platform

Bhartiya Urban has launched Bhartiya Converge, its latest business venture designed to become India’s premier platform for enabling Global Capability Centres (GCCs). The initiative offers an integrated ecosystem aimed at helping global clients gain a competitive edge in today’s rapidly evolving business environment. Focused on enhancing turnaround time and operational efficiencies, the company seeks to deliver better business outcomes powered by top-tier talent. Bhartiya Converge presents a customised and integrated suite of microservices that addresses the nuanced and evolving operational..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?