• UGI USER
  • Feb 03, 2024
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RAILWAY BUDGET ALLOCATION

Why in the News?

  • The Union Ministry of Railways receives ₹2.55 lakh crore for FY 2024-25, a 5.8% increase from the previous year’s allocation.
  • Finance Minister announces three major economic railway corridor programs.

About Economic Corridor Programs:

  • Three major economic railway corridor programs:
  • Energy, Mineral, and Cement Corridor;
  • Port Connectivity Corridor (Rail Sagar); and
  • High-Traffic Density Corridors (Amrit Chaturbhuj).
  • These programs, aligned with the PM Gati Shakti framework, involve 434 projects with a total investment of ₹11 lakh crore, aiming for integrated railway planning.
Source: Budget
About PM-Gati Shakti Scheme

·   Objective: To streamline infrastructure project planning and execution over the next four years, emphasizing efficient implementation, cost-saving, and job creation.

·   Subsumes the ₹110 lakh crore National Infrastructure Pipeline launched in 2019.

·   Aims to reduce logistics costs, enhance cargo handling capacity, and decrease port turnaround time to boost trade.

·   Additionally, plans include establishing 11 industrial corridors, two new defence corridors, extending 4G connectivity to all villages, and expanding the gas pipeline network by 17,000 kms.