Union Budget 2019 Allocates Rs 65,837 crore for Railways

The Union Budget allocated Rs 65,837 crore for railways while the capital expenditure amounts to Rs 1.60 lakh crore for FY 2019-20. The government has decided to improve passenger amenities by increasing the funds by 200%.

The Union Budget 2019-20 allocated Rs 7,255 crore for the construction of new lines, Rs 2,200 crore for the conversion of gauges, Rs 700 crore for doubling, Rs 1,750 crore for signalling and telecom, and Rs 6,114.82 crore for rolling stock.

The Finance Minister decided not to alter the allocations made in the Interim Budget presented in February. Last year, the railways’ outlay was Rs 1.48 lakh crore while the budget allocated Rs 55,088 crore. The Interim Budget allocated Rs 1.58 lakh crore.

Also Read: Union Budget 2019: 8 Key Takeaways for MSMEs and Startups

The 2017-18 Union Budget allocated Rs 1,100.90 crore for the betterment of railway passenger amenities. The Interim Budget focused further on improving the facilities by allocating 50% more than the previous budget. 

Nirmala Sitharaman, the Finance Minister of India, in her maiden Budget speech said that the Indian railways need Rs 50 lakh crore between the year 2018 and 2030 and proposed Public-Private Partnership (PPP) for faster development to improve passenger connectivity.

The Budget allocated Rs 267.64 crore towards the Nirbhaya Fund, which includes a provision of Rs 250 crore for the Integrated Emergency Response Management System (IERM). The Konkan Railway Corporation Ltd has earmarked Rs 17.64 crore in the budget. 

The estimates of the Gross Traffic Receipts for the FY 2019-20 is expected to touch Rs 2,16,675 crore, which is an increase of Rs 19,961 crore over the updated estimates of 2018-19.

You May Also Like

SEBI introduces the Settlement Proceedings Regulations 2018

The Securities and Exchange Board of India announced the introduction of the…

SEBI notices 66% drop in MCX and NCDEX revenue as traders favored equity market

The Multi Commodity Exchange of India (MCX) and National Commodities and Derivatives…

Why has the RBI kept a close check on inflation?

  The Reserve Bank of India has released a statement that said…

Shaktikanta Das: Meet the man heading the Reserve Bank of India (RBI)

Shaktikanta Das is named the newest governor of the Reserve Bank of…