FM Nirmala Sitharaman has announced Rs 2.4 lakh crores for the Indian Railways. This is the highest-ever capital outlay for railways to date.
There will also be a large focus on freight with an investment of Rs 75,000 crore under the National Rail Plan (NRP).
"Investment of Rs 75,000 crore focusing on freight will help Indian Railways increase its modal share. This is in line with the National Rail Plan aim to raise the modal share to 50% from 25% now," according to CRISIL.
The National Rail Plan (NRP) 2030 has been created by Indian Railways to be a "future-ready" railway system. It aims to develop measures to raise the modal share of the Railways in freight on both operational capacities and commercial policy initiatives.
“This is the highest capital outlay for railways and is 9x over FY2014,” Sitharaman said.
The Union Budget of India is the annual financial statement presented by the Finance Minister of India in Parliament. It outlines the government's plans for revenue and expenditure for the upcoming financial year.
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