Railways Sector Highlights of The Union Budget 2022-23

The Union Minister for Finance & Corporate Affairs, Smt Nirmala Sitharaman tabled the Union Budget 2022-23 in Parliament yesterday on 1st February 2022. The Railways received an allocation of ₹140367.13 crore in the 2022-23 Union Budget, which is ₹20,311 crore more than the revised figures of the previous fiscal.

The Union Budget seeks to complement macro-economic level growth with a focus on micro-economic level all inclusive welfare. India’s economic growth estimated at 9.2% to be the highest among all large economies. Entering Amrit Kaal, the 25 year long lead up to India @100, the budget provides impetus for growth along four priorities:

  • PM GatiShakti
  • Inclusive Development
  • Productivity Enhancement & Investment, Sunrise opportunities, Energy Transition, and Climate Action.
  • Financing of investments

The seven engines that drive PM GatiShakti are Roads, Railways, Airports, Ports, Mass Transport, Waterways and Logistics Infrastructure. The scope of PM GatiShakti National Master Plan will encompass the seven engines for economic transformation, seamless multimodal connectivity and logistics efficiency. The projects pertaining to these 7 engines in the National Infrastructure Pipeline will be aligned with PM GatiShakti framework.

Multimodal Logistics Parks

  • Contracts to be awarded through PPP mode in 2022-23 for implementation of Multimodal Logistics Parks at four locations.

Railways

  • One Station One Product concept to help local businesses & supply chains.
  • 2000 Km of railway network to be brought under Kavach, the indigenous world class technology and capacity augmentation in 2022-23.
  • 400 new generation Vande Bharat Trains to be manufactured during the next three years.
  • 100 PM GatiShakti Cargo terminals for multimodal logistics to be developed during the next three years.