Story highlights
In the previous year’s Union budget plan, the Modi federal government assigned a record $28.9 billion (Rs 2.4 lakh crore) to the trains ministry for the fiscal year 2023-2024. This quantity was 9 times of allotment in FY 2013-14.
Indian Finance Minister Nirmala Sitharaman provided the interim budget plan 2024 on Thursday (Feb 1). The trains ministry was assigned an overall of Rs 2.55 lakh crore (2.5 trillion).
In her speech, Finance Minister Sitharman stated that 3 significant financial passage programs will be executed by the federal government. “These are energy, mineral and cement passages; port connection passages, and high traffic density passages,” Sitharaman stated.
“The tasks have actually been recognized under the PM Gati Shakti for allowing multi-modal connection. They will enhance logistics effectiveness and decrease expense,” Sitharaman stated.
“The resultant decongestion of the high-traffic passages will likewise assist in enhancing operations of guest trains, leading to security and greater travel speed for guests,” she included.
The financing minister likewise stated that together with devoted freight passages, these 3 financial passage programs will speed up India’s Gross Domestic Product (GDP) and lower logistic expenses.
40k trains to be transformed to Vande Bharat requirements’
Throughout her interim spending plan speech, Finance Minister Sitharaman stated that 40,000 regular train bogeys will be transformed to the Vande Bharat requirements to boost the security, benefit and convenience of guests.
VIDEO|”Railways: Three significant Railway financial passages programs will be executed. These are energy, mineral and cement passage; port connection passages and high traffic density passages. The jobs have actually been recognized under the PM Gati Shakti for making it possible for … pic.twitter.com/zD0fJ4vp1R
— Press Trust of India (@PTI_News) February 1, 2024
“We have a fast-expanding middle class, and fast urbanisation is happening. City and NaMo Bharat can be the driver for the needed city improvement,” she included.
This was Sitharaman’s 6th Union budget plan. She holds the title for providing the longest spending plan speech in regards to period.
This year’s speech was the fastest, lasting for 57 minutes. Her budget plan speech in 2020 was 2 hours and 42 minutes long.
What took place in 2015’s spending plan?
In the previous year’s Union budget plan, the Modi federal government assigned a record Rs 2.4 lakh crore to the trains ministry for the fiscal year 2023-2024. This quantity was 9 times what was designated in the FY 2013-14.