Railway Budget 2024 Live: Plans to roll out more Vande Metro trainsets, Sitharaman likely to focus on hi-tech system upgrade – Budget 2024 News

The Economic Survey on Monday highlighted that the Amrit Bharat Station Scheme, launched in August 2023 to enhance stations continuously, includes creating master plans and phased implementations aimed at improving amenities, infrastructure, multimodal integration, and sustainability. As of now, 1,324 stations have been earmarked for upgrading under this initiative.

As per the survey findings, the Railways intends to launch Vande Metro trainset coaches equipped with sealed wider gangways, centrally controlled automatic sliding doors, CCTVs for safety and surveillance, route map indicators, passenger information and infotainment systems, fire detection systems, and aerosol-based fire suppression systems. The first set of lot is anticipated to roll out in the coming year.

According to the Economic Survey 2023-24 released on Monday, capital expenditure on the Railways has surged by 77% over the last five years, driven by substantial investments in new line construction, gauge conversion, and track doubling projects.

FM Nirmala Sitharaman has arrived at the Parliament. She will begin the budget speech at 11:00 AM today.

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#watch | Finance Minister Nirmala Sitharaman carrying the Budget tablet arrives at Parliament along with her team, to present the Union Budget in Lok Sabha. pic.twitter.com/vvRetDyiGg

— ANI (@ANI) July 23, 2024

In the light of multiple train accidents, the budget today is expected to allocate sufficient budget to the safety enhancing tech for Indian Railways. Keeping that in mind, Sitharaman could also enhance the budget of the KAVACH safety system.

Prime Minister Narendra Modi on Monday emphasized the critical role of the upcoming budget in shaping India‘s economic path for the next five years, laying the groundwork for the nation’s goal of becoming a developed country by 2047.

Finance Minister Nirmala Sitharaman departed from the North Block offices of the Finance Ministry on Tuesday carrying a digital tablet of the Union Budget 2024-25, continuing the tradition. Prior to the budget presentation, Minister Sitharaman visited Rashtrapati Bhavan for a meeting with President Droupadi Murmu.

Dressed in a simple white saree with a pink border, Nirmala Sitharaman was seen posing with the ‘Bahi khata’ – the digital tablet, before leaving for the Rashtrapati Bhavan.

Revenue-earning freight excluding Konkan Railway Corporation Limited jumped by 5.3% year-on-year. This growth is even more impressive considering the consistent rise in freight volume over the past few years. The survey attributes this success to the railways’ focus on expanding capacity, acquiring new rolling stock (wagons and locomotives), and streamlining operations for better efficiency.

Enhanced funding will definitely facilitate extensive upgrades to railway tracks, stations, and signaling systems, resulting in enhanced safety, reduced travel durations, and improved passenger satisfaction. Moreover, increased investments will expedite the deployment of advanced trains such as Vande Bharat, thereby enhancing operational efficiency and increasing transport capacity. Railway investment transcends passenger convenience; it serves as a vital economic catalyst. Streamlined freight transport will effectively link producers to markets, stimulating economic expansion. Furthermore, railway development initiatives generate employment opportunities and stimulate local economies.

The unified budget offers several advantages. It provides a comprehensive view of the government’s financial health, allowing for better resource allocation across sectors based on broader national priorities rather than isolated sectoral needs. Additionally, it facilitates integrated planning for transportation infrastructure, encompassing railways, highways, and waterways.

Internationally, India stood out with its separate railway budget, whereas most countries integrated transport funding within a unified budget framework. While the merger aligns with global practices, proponents of separate budgets argue it ensures focused attention on railway development and safeguards against its priorities being overlooked amid broader governmental objectives.

Until 2017, India maintained separate budgets for railways and the general government (Union Budget). This changed following recommendations by the government’s think tank, Niti Aayog. The decision to merge the budgets was primarily driven by several factors. Firstly, the significance of railway revenue had declined over the years as other sectors grew, reducing its proportion in the overall budget. Niti Aayog highlighted this trend, advocating that a separate budget for railways was no longer justified.

With a focus on bolstering economic growth through improved transport networks, job creation in the railway sector, and sustainable development practices, Modi 3.0 is likely to allocate substantial resources to propel railway modernization initiatives forward. Stay tuned for updates as the budget unfolds to see how these plans will unfold and impact India‘s railway landscape.

The government this year is expected to provide a significant boost to railway modernization. The government has been proactive in emphasizing infrastructure development, including railways, as a cornerstone of economic growth and connectivity across India. Key priorities under Modi 3.0 include enhancing passenger safety, improving train services, modernizing railway infrastructure, and expanding high-speed rail networks like the ambitious bullet train projects. Investments in technology upgrades, track electrification, and station modernization are also anticipated to feature prominently in the budget allocations.

Infrastructure development will feature prominently in Sitharaman’s Budget speech, sharing the spotlight with crucial sectors like aviation and roadways. Despite challenges, the Modi 3.0 government is poised to sustain its strong focus on capital expenditure, underscoring ongoing commitments to infrastructure investment. The government has been actively advocating for infrastructure development and offering incentives to states to bolster capital expenditure.

Read More Here: Infrastructure Budget 2024 Live Updates

Expectations are high for increased funding towards upgrading existing stations and establishing new ones under the Amrit Bharat scheme. These developments aim to elevate the travel experience for passengers, stimulate local economies, and promote tourism in regions served by these stations. Stay tuned for updates on how these expansions will shape the future of rail travel in India.

As part of infrastructure upgrades, the Railway Budget should focus on the modernization of railway stations nationwide. This includes renovations, amenities enhancement, and integration of advanced facilities such as widening Wi-Fi connectivity, digital displays, and passenger lounges. The modernized stations aim to offer a world-class experience to travelers while promoting tourism and local economies.

With a commitment to enhancing passenger comfort and safety, the Railway Budget should introduce initiatives focused on improving onboard amenities, cleanliness standards, and passenger facilities. This includes upgrades in coach designs, sanitation facilities, and passenger information systems to ensure a pleasant and secure travel experience for all commuters.

Supporting the government’s Make in India initiative, the Railway Budget is expected to prioritize indigenous manufacturing of rail components, coaches, and infrastructure materials. This strategic focus aims to enhance self-reliance, boost local manufacturing capabilities, and reduce dependency on imports. It also paves the way for creating a robust ecosystem of suppliers and vendors within the country.

The Railway Budget will emphasize the integration of high-speed rail networks with urban transport systems in major cities. This holistic approach aims to improve last-mile connectivity, reduce congestion, and promote sustainable urban mobility. Investments in metro extensions, feeder services, and intermodal hubs are expected to transform urban transportation landscapes.

Keeping in line with India‘s net zero carbon emission target, the Railway Budget should introduce new sustainable practices and initiatives in rail operations. This includes investments in eco-friendly technologies, energy-efficient trains, and reducing carbon footprint across the rail network. These measures align with global environmental standards, reflecting India’s commitment to sustainable development and reducing ecological impact. So, there could be new announcements regarding hydrogen trains.

In line with the government’s emphasis on job creation, the Railway Budget is anticipated to prioritize initiatives aimed at generating employment opportunities within the rail sector. This includes recruitment drives for skilled labor, apprenticeship programs, and vocational training initiatives. The expansion of railway infrastructure and introduction of new services are set to create a ripple effect, fostering job growth in allied industries as well.

The Railway Budget is poised to play a pivotal role in boosting economic growth by investing in robust rail infrastructure projects. These investments will not only modernize the rail network but also create numerous job opportunities in construction, operations, and maintenance sectors. Improved rail connectivity is expected to spur industrial development, facilitate smoother movement of goods, and attract investments in diverse sectors.

Addressing safety concerns, the Railway Budget is expected to introduce comprehensive measures aimed at reducing train accidents. This includes investments in advanced signaling systems, track maintenance, and training programs for railway staff. The goal is to enhance safety protocols across the network, ensuring a secure and reliable travel experience for passengers.

The budget may include initiatives to modernize freight infrastructure, introduce dedicated freight corridors, and streamline logistics processes. This will help enhance the efficiency and capacity of freight transportation by rail.

Although there is no confirmation yet, the budget may include provisions for improving accessibility at railway stations and on trains, such as installing ramps, accessible toilets, and facilitating easy boarding and alighting for differently-abled passengers.

The budget today could also include provisions for improving digital services such as online booking systems, real-time train tracking apps, and onboard Wi-Fi facilities. These measures aim to enhance passenger convenience and connectivity.

Union Finance Minister Nirmala Sitharaman unveiled the Interim Budget 2024-25 in February in which she introduced three significant economic corridor programs aimed at boosting the transportation of energy, cement, and minerals. Additionally, she announced the extension of crucial rail infrastructure projects including Metro Rail and Namo Bharat to more cities. Sitharaman highlighted plans for converting around 40,000 Indian Railways bogies into Vande Bharat standard coaches. Furthermore, she outlined initiatives to expand Metro Rail and Namo Bharat networks across major urban centers.

Recent significant train accidents have underscored the urgent need for the Centre to prioritize passenger safety. The railway budget today is poised to reflect this concern with strategic allocations. In addition to infrastructure upgrades, comprehensive training programs for railway staff to handle emergencies and awareness campaigns for passengers on safety protocols will require adequate funding and manpower. The budget is also expected to allocate resources for regular maintenance schedules and rigorous safety inspections of trains, tracks, and stations to uphold stringent safety standards.