Railway budget to rise 25% to hit record levels

Budgetary allocation for Indian Railways is expected to hit record levels in 2024-25 as the government gears up to support a major makeover for the national transporter with additional modern and faster trains and improved safety features.

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The capital expenditure (capex) for the railways is likely to be increased by about 25% from the 2023-24 budget estimate, two people aware of the development said. That would take the budgetary allocation to more than 3 lakh crore in 2024-25.

The railway ministry had sought an increase in its planned capex for long-term infrastructure projects of freight corridors and speedier trains, as well as modernising the fleet with newage trains, wagons and locos, one of them said.

The increased capex would also go towards rolling out 300400 Vande Bharat trains in different formats, including one with sleeper coaches, as well as overhauling the signalling systems.