Business

Budget 2018: Arun Jaitley Allocates Rs 1.48 Lakh Crores To Railways

NEWS WORLD INDIA | 0
2094
| February 1 , 2018 , 17:03 IST

Finance Minister Arun Jaitley Presented the Union Budget 2018 in Parliament on Thursday. He spelt out only some of the main details about the Rail Budget that focused on the major expenditure on various heads, revenue earnings and projects growth in goods and passenger sector.   

The government had scrapped the practice of presenting a separate Rail Budget and combined it with the Union Budget last year. Earlier Rail Budget was used to be presented by Railway Minister ahead of the Union Budget. Jaitley became the first Finance Minister to present the combined Rail Budget and Union Budget in 2017.

ALSO READ: Budget 2018-19: New Target For Disinvestment Reaches 1 Trillion

Finance Minister allocated 148,000 cr for railways. The renewal of 36,000km rail-tracks is also on the list.

While presenting this year's Budget, Jaitley said "12,000 wagons, 5160 coaches and 700 locomotives are being procured. There are significant achievements of physical targets by Railways. All railways stations with more than 25,000 footfall to have escalators. All railways stations and trains to have Wi-Fi and CCTVs progressively."

"Foundation stone of the bullet train was laid in September 2017. An institute is coming up in Vadodara to train the manpower required for the high-speed railway projects," he added. 

"Redevelopment of 600 major railway stations has been taken up; Mumbai transport system is being expanded; the suburban network of 160 km planned for Bengaluru. The focus will be on safety, maintenance of railway tracks, increase in use of technology and fog safety devices," Jaitley said.

Mumbai was one of the top gainers of the day as Jaitley said, “Mumbai’s transport system, the lifeline of the City, is being expanded and augmented to add 90 kilometres of double line tracks at a cost of over `11,000 crores. 150 kilometres of the additional suburban network is being planned at a cost of over `40,000 crores, including elevated corridors on some sections. A suburban network of approximately 160 kilometres at an estimated cost of `17,000 crore is being planned to cater to the growth of the Bengaluru metropolis.”

ALSO READ: Budget 2018: Govt Can Consider Raising Import Duty On Medical Devices

Maharastra CM Devendra Fadnavis took to twitter saying, “Celebrate Mumbai! ₹40,000 crore for enhancing transportation in #Mumbai with the expansion of suburban railway system & new airports. This is a big boost to infrastructure sector & economy! ”

 

While talking about airports he said "UDAN (Ude Desh ka Aam naagrik) scheme will connect 56 unserved airports and 31 unserved helipads. Airports Authority of India now has 124 airports, this will be expanded by 5 times. The aim of 1 billion trips a year."