Media Eye News Bureau: The Union Minister for Finance and Corporate Affairs Arun Jaitley, in his speech for General Budget 2018-19 has laid out a roadmap for Indian Railways, which is in line with Prime Minister Narendra Modi’s vision of New India by 2022. In the past four years, Government has taken several decisions to transform Railways into a modern, safe, green, affordable and comfortable mode of transport.
Subsequent to the presentation of the Budget in Parliament, Union Minister for Railways and Coal Piyush Goyal informed that Government is drastically scaling up investments by almost three times to Rs.1,46,500 cr. in 2018-19 as against Rs.53,989 cr. in 2013-14 to reduce accumulated backlog in capacity creation.
Goyal pointed out that this is 22% higher than 2017-18 (RE), and includes budgetary support of Rs.53,060 cr; internal resources of Rs.11,500 cr; IRFC to raise Rs.28,500 cr; Institutional Finance (LIC) to support with Rs.26,440 cr; and investment through PPP of Rs.27,000 cr.
Briefing the media persons, the Minister explained that the government has provided Rs.19,40Cr towards reimbursement of losses on operation of strategic lines and Rs.88Cr towards reimbursement of operational cost of e ticketing to IRCTC.
Government has also approved setting up of India’s first Rail and Transportation University in Vadodara, Gujarat.
