Indian Railways Achieves Financial Goals with Efficient Project Completion in 2024-25
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New Delhi, Jan 8 (NationPress) Indian Railways has effectively utilized 76 percent of its budgetary resources within the initial nine months of the ongoing financial year, indicating the efficient execution of projects designed to enhance capacity and improve travel safety, according to an official announcement made on Wednesday.
The total Capital Expenditure (Capex) for railways in the Budget Estimate for 2024-25 stands at Rs 2,65,200 crore, with a Gross Budgetary Support of Rs 2,52,200 crore.
An impressive Rs 1,92,446 crore of this allocation has already been utilized.
As reported in the latest expenditure overview of Indian Railways, Rs 1,198 crore of Capex was executed in the first four days of this calendar year.
With nearly three months remaining in the financial year, the overall Capex of Indian Railways is recorded at 76 percent.
For rolling stock, the budget allotment was Rs 50,903 crore, out of which Rs 40,367 crore was expended by January 5.
This expenditure represents 79 percent of the budget designated for rolling stock.
Likewise, concerning safety endeavors, from a budget allocation of Rs 34,412 crore, Rs 28,281 crore has been spent, amounting to 82 percent of the allocated funds, as highlighted in the official statement.
The government is focused on transforming Indian Railways into a world-class entity, which caters to an average of 2.3 crore Indians daily, providing affordable travel across the nation.
The benefits of sustained Capex over the last decade are evident in the form of 136 Vande Bharat trains, approximately 97 percent electrification of broad gauge, establishment of new lines, gauge conversions, track doubling, traffic facility enhancements, investments in PSUs, and metropolitan transport, as stated in the announcement.
“This Capital Expenditure has resulted in a faster, safer, and world-class travel experience at an economical cost for billions of Indians. With Vande Bharat sleeper trains undergoing speed testing and safety certification, Indian rail commuters are poised to experience world-class travel soon for long-distance journeys. This will transform the overall travel landscape,” the statement noted.
Indian Railways is actively engaged in building an inclusive India by investing in infrastructure, technology, and contributing towards a ‘Future-ready’ rail transport system as the country advances towards Viksit Bharat, the statement added.
