Indian Railways meets budget targets with timely completion of projects in 2024-25

New Delhi: Indian Railways has spent 76 per cent of its budgetary outlay within the first nine months of the current financial year, reflecting the timely implementation of projects to expand capacity and make travel safer, according to an official statement issued on Wednesday.

The total Capital Expenditure (Capex) for railways in Budget Estimate 2024-25 is Rs 2,65,200 crore with Gross Budgetary Support of Rs 2,52,200 crore.

As much as Rs 1,92,446 crore of this amount, has already been spent,

According to a latest expenditure report of Indian Railways, Rs 1,198 crore of Capex took place in the first four days of this calendar year.

The overall Capex of Indian Railways stands at 76 per cent with nearly three months still to go for the financial year to end.

For rolling stock, the budgetary provision was Rs 50,903 crore, out of which Rs 40,367 crore was spent by January 5.

The expenditure constitutes as much as 79 per cent of the budget allotted for rolling stock.

Similarly, in safety related works, out of the budgetary allocation of Rs 34,412 crore, an amount of Rs 28,281 crore has been spent, which is 82 per cent of the allocated amount, the official statement highlighted.

The government has prioritised transforming Indian Railways into a world-class entity, which ferries an average 2.3 crore Indians every day from one part of the country to the other at an affordable cost.

The fruits of consistent Capex for the last one decade are visible in the form of 136 Vande Bharat trains, about 97 per cent electrification of broad gauge, laying of new lines, gauge conversion, doubling of tracks, traffic facilities work, investment in PSUs and metropolitan transport, the statement said.

“This Capital Expenditure has led to faster, safer and world-class travel experience at a nominal cost to billions of Indians. With Vande Bharat sleeper trains at speed testing and safety certification stage, Rail commuters in India are all set to experience world-class travel very soon for long distance travel. This will revolutionise the overall travel experience,” the statement observed.

Indian Railways has been spearheading efforts to build an all-inclusive India by investing in infrastructure, technology, and contributing in the direction of a ‘Future-ready’ rail transport system as the country progresses towards Viksit Bharat, the statement added.

–IANS