FM Sitharaman allocated 2.40 trillion rupees to Indian Railways in the budget. This is the largest capital expenditure for the railroads to date and is nine times the amount given to the railroads in 2013–2014. In 2016, the Railway Budget was combined with the Union Budget and is no longer shown separately.
“For the Railways, a capital outlay of Rs 2.40 lakh crore has been allocated. This highest-ever expenditure is around nine times that of 2013–2014 “FM Nirmala Sitharaman stated in her address on the budget for 2023. “The newly established Infrastructure Finance Secretariat will support all stakeholders for increased private investment in infrastructure, including trains, roads, urban infrastructure, and power, which are mainly reliant on public resources,” she stated.
By August 2023, Indian Railways plans to introduce 75 Vande Bharat trains. Meanwhile, it is anticipated that the contract for the production of 200 Vande Bharat sleeper trains will be given soon. On the Indian Railways network, Shatabdi Express trains are gradually being replaced by Vande Bharat Express chair car services.
The premium Rajdhani Express trains will be replaced with the Vande Bharat Express sleeper variants. To run the Vande Bharat trains as efficiently as possible, railway experts have emphasized the necessity to upgrade important rails to 160 kmph speed capability.
Vande Bharat trains were introduced by Indian Railways as a significant endeavor, according to Economic Survey 2023. “Integral Coach Factory, located in Chennai, made the semi-high-speed self-propelled Vande Bharat Trainsets using domestic resources. These trains are equipped with cutting-edge technologies including rapid acceleration, a significant reduction in travel time, a top speed of 160 kmph, onboard entertainment, a GPS-based passenger information system, etc “The survey reports.
The Economic Survey 2023 predicts that Indian Railways passenger traffic will increase. “The number of originating passengers has already surpassed 418.4 crores during the current fiscal year, which has experienced a continued robust rise in passenger traffic (up to November 2022). In the upcoming years, increased passenger traffic will be aided by the need for quicker, more competitive trains and more mobility across the nation “According to the survey.