Finance Minister Nirmala Sitharaman announces the allocation of Rs 11,11,111 crore for the next year, an 11.1 percent increase in capital expenditure, during her sixth budget presentation.
Finance Minister Nirmala Sitharaman, in her sixth budget presentation, unveils a substantial allocation of Rs 11,11,111 crore for the next fiscal year, reflecting an 11.1 percent increase in capital expenditure, equivalent to 3.4 percent of the GDP. Central to her announcements are the three major economic railway corridor programs designed to transform logistics and diminish costs.
The identified economic corridors encompass energy, mineral, and cement corridors; port connectivity corridors; and high-traffic density corridors, aligned with the PM Gati Shakti initiative for multi-modal connectivity. Sitharaman underscores their potential to streamline logistics and cut overall costs.
The anticipated decongestion in high-traffic corridors will not only enhance passenger train operations, ensuring safety, but also increase travel speeds. In tandem with dedicated freight corridors, these economic corridor programs are poised to propel GDP growth and substantially reduce logistic costs.
A notable aspect of the budget includes the conversion of approximately forty thousand normal rail bogies to adhere to Vande Bharat standards. This conversion aims to enhance passenger safety, convenience, and comfort.
Furthermore, investments in public transport, including metro, rail, electric buses, and regional rail projects, align with objectives such as urban transformation, city decongestion, and the nation’s decarbonisation agenda for transportation.
