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Budget 2021-22 to speed up Indian Railways, promises INR 1.1 lakh crore

By Saima Siddiqui 
Updated Date

New Delhi: Finance Minister Nirmala Sitharman in her Budget 2021-22 speech announced to provide INR 1.1 lakh crore for Indian Railways of total, INR 1.07 lakh crore, which would be used for capital expenditure, said finance minister.

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In this first digital Union Budget, FM Sitharaman said there will be 100 per cent electrification of broad gauge rail tracks by December 2023.

Highlights of her Railway Budget 2021-22 include:

-Sitharaman announced to infuse INR 1.1 lakh crore to speed Indian Railways. Of total, INR 1.07 lakh crore of provision to Indian Railway in FY22 would be for capital expenditure, finance minister mentioned.

-Presenting the Union Budget for 2021-22, she said Railways will monetize dedicated freight corridors. “We will work towards raising the share of public transport with an outlay of ₹18,000 crore,” she announced.

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-Presenting a new rail plan for a future-ready Indian Railways by 2030, FM also announced that the eastern and western dedicated freight corridors will be commissioned by June 2022. A section of the dedicated freight corridors will be made on Public-Private Partnership mode.

-“Metro-lite and Metro-neo technologies will be deployed in tier-2 cities and along the periphery of tier-1 cities”, she announced.

-In the first paperless Union Budget, Finance Minister promised 100 electrification of broad gauge rail tracks by December 2023 under FY22 Budget.

-In her Budget speech, Sitharaman also said national monetisation pipeline for potential brownfield infrastructure assets will be launched and pipelines of GAIL (India) Ltd, Indian Oil Corp (IOC) and HPCL will be monetised.

-She also said a record ₹1,10,055 crore will be provided for railways, of which ₹1,07,100 crore will be for capital expenditure in 2021-22.

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– The government also announced a ₹18,000 crore scheme to augment public transport in urban areas.

The first budget of this decade is expected to lift up the severely hit economy due to the outbreak of the COVID-19 pandemic and provide the country with a path to reviving growth and employment.Ca;ling this Budget superb, NITI Aayog CEO, Amitabh Kant said,  “It’ll not only accelerate us in pre-COVID period recovery stage but also provide a direction for 3-4 yrs. Govt focussed on infrastructure & asset monetisation this time…Shows Govt’s thinking that it’s essential to involve pvt sector in long run.”

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