Advertisement
Tuesday, Sep 21, 2021
Outlook.com
Outlook.com

Budget 2019: Piyush Goyal Allocates Rs 1.58 Lakh Crore For Railways, Highest Ever For National Transporter

Last year, then finance minister Arun Jaitley had allocated an amount of Rs 1.48 lakh crore for the Railways in his budget.

Budget 2019: Piyush Goyal Allocates Rs 1.58 Lakh Crore For Railways, Highest Ever For National Transporter
| PTI Photo
Budget 2019: Piyush Goyal Allocates Rs 1.58 Lakh Crore For Railways, Highest Ever For National Transporter
outlookindia.com
2019-02-01T14:40:06+05:30

Finance Minister Piyush Goyal on Friday announced a capital expenditure allocation of Rs 1.58 lakh crore for the Railways, the highest ever for the national transporter, in an effort to put its flagging revenues back on track.

Last year, then finance minister Arun Jaitley had allocated an amount of Rs 1.48 lakh crore for the Railways in his budget.

Goyal, who is also the Railway minister, said so far 2018-2019 has been the safest for the Indian Railways and all unmanned level crossings on the broad gauge network have been completely eliminated.

"Capital expenditure programme of the Railways is at all-time high of Rs 1.58 lakh crore in next financial year. Vande Bharat Express, indigenously developed semi-high speed train, will give Indian passengers world class experience.

"This major leap in wholly developed technology by our engineers will give an impetus to the Make in India programme and create jobs," he said in his debut budget speech.

The budget estimates under revenue for the year 2019-20 (gross) is Rs 2,72,705.68 crore, recording an increase of Rs 22,854.67 crore over the revised estimates of Rs 2,49,851.01 crore for 2018-19.

In the budget, funds of Rs 7,255 crore have been allocated for construction of new lines, Rs 2,200 crore for gauge conversion, Rs 700 crore for doubling, Rs 6,114.82 crore for rolling stock and Rs 1,750 crore for signalling and telecom.

Goyal also announced that the operating ratio for the current fiscal has improved to 96.2 per cent, and in the next financial year the aim will be to lower it to 95 per cent.

No railway fare hike was announced in the Railway Budget for 2019. Lok Sabha elections are slated to be held in April-May.

The planned expenditure would be a 148 per cent hike from the levels of 2014.

Developing passenger amenities has been allocated a sum of Rs 3,422 crores which is an additional outlay of around Rs 1,000 crore for the comfort of rail users.

Advertisement

Outlook Newsletters

Advertisement

Read More from Outlook

Munna Bhais Still Flying High In High-Profile Entrance Examinations

Munna Bhais Still Flying High In High-Profile Entrance Examinations

Experts believe the swindlers have taken control of the entire system and they are doing so without any fear. They suspect one can get 99.5% only if one gets the question paper in advance.

Infiltration Bid By Heavily Armed Militant Group In J&K's Uri,  Army Operation On

Infiltration Bid By Heavily Armed Militant Group In J&K's Uri, Army Operation On

The authorities have suspended internet and mobile phone services in the Uri sector. 'I assure you that we are alert and our troops on the ground are alert as well,' said an Army officer.

'Its A Wake-Up-Call For RCB', Says Virat Kohli After KKR Loss

'Its A Wake-Up-Call For RCB', Says Virat Kohli After KKR Loss

The result put KKR in fifth spot while RCB remain static at third.

New Punjab CM Directs Govt Officers To Reach Office By 9 AM

New Punjab CM Directs Govt Officers To Reach Office By 9 AM

Surprise checks will be conducted twice a week to keep vigil to ensure the availability of all the government officers during official hours.

Advertisement