Railways set a record in expenditure, 75% of the budget was used in 9 months.

Railway Budget 2024: Indian Railways has also set a record in spending money. According to the Ministry of Railways, record capital expenditure (Capex) has been made in the 9 months from April 1, 2023 to December 31, 2023. Railways has spent 75% of the budget received during this period. Finance Minister Nirmala Sitharaman had given Rs 2.40 lakh crore to Indian Railways in the budget for the financial year 2023-24.

The expenditure increased by 33% compared to the previous financial year.

According to PIB, Indian Railways has utilized 75 percent of the budget in the first three quarters of the fiscal year. Indian Railways spent a total of Rs 1.95 lakh crore during this period. There has been an increase in the utilization of capex compared to the corresponding period of the previous financial year. Capital utilization has increased by about 33% in the same period compared to the previous financial year.

A large part was spent on security measures.

Investments made during these nine months have been spent on major infrastructure projects such as development of new railway lines, doubling of tracks, gauge conversion and enhancement of passenger amenities. Safety of Indian Railways is a top priority. Therefore, a major part of the budget has been spent on security measures.

Railways got the biggest budget.

Indian Railways has received the highest ever amount of Rs 2.4 lakh crore during this fiscal year’s budget. 1.37 lakh crore was given to Indian Railways in the last financial year. Finance Minister Nirmala Sitharaman in her budget speech had said that this amount is nine times more than the financial year 2013-14.

The country needs one lakh km of track.

This money was to be used to reduce overcrowding in trains and build new railway lines. It is estimated that the country will need about 1 lakh km of track (including doubling of existing track) in 25 years. Goods transport is expected to shift from roads to railways. The finance minister is going to present the interim budget on February 1. The people of the country are eager to see how much money the government will give to India’s lifeline railways.

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Budget 2024: What Nirmala Sitharaman’s Budget Will Get for Railways, Focus on Vande Bharat and Safety

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