Finance Minister Arun Jaitley allocated Rs 55,000 crore for the Indian Railways while presenting the Union Budget 2017-18 on 1 February.
The total railway capital expenditure for FY18 will be 1.31 lakh crore, its highest yet. The slew of measures for the railways, under the first ever unified Budget, emphasise on safety, employment generation, cleanliness and other financial and accounting reforms.
Jaitley said that the autonomy of the Indian Railways will be maintained despite the Budget having been merged with the Union Budget.
Here are key highlights:
- Rs 1,31,000 crore allocated for railways capex (capital expenditure) and development expenditure in 2017-18.
- A rail safety fund with corpus of Rs 1,00,000 crore will be created over a period of five years.
- Service charges on e-tickets booked through IRCTC website to be withdrawn.
- 25 railway stations will be redeveloped in 2017-18.
- 500 stations will be made differently-abled friendly.
- 3,500 km railway lines to be commissioned in financial year 2018.
- Railways-related PSUs like IRCTC, IRCON and IRFC will be listed on stock exchanges.
- A new metro policy aimed at generating jobs will be introduced.
- All coaches of Indian Railways will be fitted with bio-toilets by 2019.
- Measures will be taken to launch dedicated trains for pilgrimage and to promote tourism.
- Unmanned railway crossings will be eliminated by 2020.
Follow live updates of the Union Budget 2017-2018 here.
(With inputs from agencies)
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