Budget 2019 : Railways
The Union Budget 2019 had the following to say about the Indian Railways in its annual document.
Salient Features in the Budget for the Indian Railways
- Capital expenditure of Rs 1,60,175.64 crore has been allocated for the Railways Ministry for 2019-20. This is the highest-ever allocation made to Indian Railways.
- The money for the outlay is going from the budgetary support (Rs 65,837 crore), Nirbhaya Fund (Rs 267.64 crore), Internal Resources (Rs 10,500 crore) and Extra Budgetary Resources (Rs 83,571 crore).
- The government foresees the Indian Railway’s earnings from passengers to grow to Rs 56,000 crore from Rs 52,000 crore in 2018-19.
- The earnings from the goods are expected to grow to Rs 1,31,565 crore.
- The Indian railway infrastructure needs an investment of Rs 50 lakh crores between 2018 and 2030 for upgradation of tracks, rolling stock, etc.
- Public-private partnership (PPP) may be used to usher faster development and delivery of passenger freight services for railway projects.
- The railways should invest in suburban railways through special purpose vehicles (SPVs).
- A drive to modernize railway stations would be launched this year.
- The government plans to use rivers for cargo transportation. This will decongest roads and railways.
The Railways Budget used to be presented separately till 2016. Prime Minister Narendra Modi had approved the merger of the Rail and General budgets in 2016 and this ended a 92-year-old practice of a separate budget for the nation s largest transporter.