Railway Budget 2024-25: Record Allocation and Key Highlights

The Indian Railways has been allocated a record capital expenditure (Capex) of Rs 2,62,200 crore for the fiscal year 2024-25, maintaining the same level as announced in the Interim Budget 2024. This allocation is part of the Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman, with Gross Budgetary Support of Rs 2,52,200 crore for Railways, up from Rs 2,40,200 crore in 2023-24 and significantly higher than Rs 28,174 crore in 2013-14.

Economic Resilience and Inclusive Growth

Union Minister Ashwini Vaishnaw emphasized the economy’s resilience and strong footing, combining welfare, fiscal prudence, capital investment, and manufacturing. He highlighted that the budget continues the economic policies focused on inclusive growth by Prime Minister Narendra Modi’s government over the last decade.

Milestones and Achievements

Freight and Revenue Growth

• Indian Railways achieved an all-time high freight loading of 1588 MT in FY 2023-24, up from 1095 MT in 2014-15, with a goal of reaching 3,000 MT by 2030.
• Total receipts for 2023-24 were Rs 2,56,093 crore, generating a net revenue of Rs 3,260 crore to supplement Capex.

Infrastructure Development

• Railways commissioned 31,180 track kms in the past decade, with the pace of track laying increasing from 4 km per day in 2014-15 to 14.54 km per day in 2023-24.
• Electrification of 41,655 Route Kms (RKMs) from 2014-2024, compared to 21,413 Route Kms till 2014.

Safety and Industrial Development

• Significant funds allocated for safety-related activities.
• Additional funds for industrial infrastructure development at strategic nodes on various Industrial Corridors, aiming to catalyze industrial growth in eastern India.

New Initiatives and Corridors

The Railways adopted a new approach for infrastructure development under the PM Gati Shakti Mission, identifying:

• Three Economic Railway Corridors: Energy, Mineral, and Cement (192 Projects).
• Port Connectivity Corridors (42 Projects).
• High Traffic Density Corridors (200 Projects).