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Saturday, April 20, 2024

Budget 2023-24: Railways gets highest ever allocation of Rs 2.40 lakh crore

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The government has allocated a capital outlay of Rs 2.40 lakh crore to the India Railways which is highest ever to push investments in the infrastructure projects and productive capacity.

Presenting the Union Budget 2023-24 in the Parliament here on Wednesday Union Finance Minister Nirmala Sitharaman said, “This allocation is the highest ever outlay, about 9 times as compared to 2013- 14”.

“Investments in infrastructure and productive capacity have a large multiplier impact on growth and employment. After the subdued period of the pandemic, private investments are growing again” said Nirmala Sitharaman.

“One hundred critical transport infrastructure projects, for last and first mile connectivity for ports, coal, steel, fertilizer, and food grains sectors have been identified”she mentioned.

Highlighting the Logistics & Regional Connectivity, she said that they will be taken up on priority with investment of Rs 75,000 crore, including Rs 15,000 crore from private sources.

The Finance Minister further said that fifty additional airports, heliports, water aerodromes and advanced landing grounds will be revived for improving regional air connectivity.

Sitharaman also mentioned that “an expert committee will review the Harmonized Master List of Infrastructure”, adding that the committee will recommend the classification and financing framework suitable for Amrit Kaal”.

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