Railway Budget 2023-24 Updates: Union Finance Minister Nirmala Sitharaman has allocated a capital outlay of Rs 2.40 lakh crore for the Indian Railways in the Union Budget 2023-24. This highest-ever outlay is about nine times the outlay made in Financial Year 2013-14. Till 2014, Railways’ capital expenditure was barely Rs 45,980 crore annually. Presently, there are a lot of projects going on across the country. In the coming years, the capex will increase further and the railway system will actually emerge as an engine of national growth.
The railways will also witness more private investment in the infrastructure sector. For this, the newly established Infrastructure Finance Secretariat will assist all stakeholders including railways, roads, urban infrastructure, and power, which are predominantly dependent on public resources.
This is going to be the last full Budget of the Narendra Modi 2.0 government. In 2016, the Prime Minister Narendra Modi-led government decided not to present a separate Railway budget. Suresh Prabhu was the last Railways Minister to present a separate Railway Budget.
Railway Budget 2023 Highlights: Indian Railway Budget 2023 Highlights
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