Budget 2019: Railways Get Rs 1.58 Lakh Crore, the Highest Ever
Piyush Goyal announced a capital expenditure allocation of Rs 1.58 lakh crore for the railways.
New Delhi, Feb 1 (PTI) Finance Minister Piyush Goyal Friday announced a capital expenditure allocation of Rs 1.58 lakh crore for the railways, the highest ever for the national transporter, in an effort to put its flagging revenues back on track.
Goyal, who is also the Railway minister, said so far, 2018-2019 has been the safest for the Indian Railways and all unmanned level crossings on the broad gauge network have been completely eliminated.
"Capital expenditure programme of railways at all-time high of Rs 1.58 lakh crore in next financial year. Vande Bharat Express, indigenously developed semi-high speed (train), will give Indian passengers world class experience.
"This major leap in wholly developed technology by our engineers will give an impetus to the Make in India programme and create jobs," he said in his debut budget speech.
Goyal also announced that the operating ratio for the current fiscal has improved to 96.2 per cent, and in the next financial year the aim will be to have it at 95 per cent.
No railway fare hike was announced in the Railway Budget for 2019. Lok Sabha elections are slated to be held in April-May.
The planned expenditure would be a 148 per cent hike from the levels of 2014.
(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)
(The Quint is available on Telegram. For handpicked stories every day, subscribe to us on Telegram)
We'll get through this! Meanwhile, here's all you need to know about the Coronavirus outbreak to keep yourself safe, informed, and updated.
Subscribe To Our Daily Newsletter And Get News Delivered Straight To Your Inbox.