Nirmala Sitharaman Announces Rs 2.4 Lakh Crore For Railways
For railways, Finance Minister Nirmala Sitharaman announced an outlay of Rs 2.4 lakh in the 2023-24 Union Budget, the highest level in nearly a decade and four times last year’s budget.
“This is about nine times more than the spending done in 2013-2014, comparing it to the year the Congress-led UPA ran the country, just before the Narendra Modi-led BJP,” she stressed. religion gained power.
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She also announced Rs 75,000 crpre for 100 “critical transport infrastructure projects”, which will likely also help the railways, especially with the freight business.
To date, railways remain a priority for most governments. In 2016, the government did not present a separate Railway Budget, but it continues to be a major part of the overall budget.
The economic survey before the budget presentation welcomed the Railway’s efforts to recover in both passenger and freight sectors after the Covid pandemic. It has also credited the government for a significant increase in funds.
The government has listed capital spending – investing in major infrastructure projects – among its areas of focus.
Today, Ms. Sitharaman began her budget speech by declaring it “Amrit Kaal’s first budget” – using a term coined by Prime Minister Modi’s government to define a future. brighter when India completes 75 years of Independence.
For the fiscal year 2023-24, she listed seven priorities: “Inclusive development, reaching the end, agriculture and investment, unleashing potential, green growth, youth power and the financial sector.”