Budget 2019: Piyush Goyal announces Rs 1.58 lakh crore for Railways

Finance Minister Piyush Goyal in its Budget speech announced highest-ever capital expenditure allocation for the Indian Railways at Rs 1.58 lakh crore, up from Rs 1.46 lakh crore in the previous year. This is 17.24 per cent higher than the previous year figures.

"Budgetary allocation for railways has been increased to Rs 64,587 crore," Piyush Goyal said in his Budget speech.

Piyush Goyal, who also heads the Railway ministry, allocated Rs 55,088 crore in 2018-19, while it was Rs 41,813 .8 crore in 2017-18 and Rs 45,231.63 crore in 2016-17.

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He also touched upon the many firsts that the Indian Railways notched up last year, from commissioning its longest bridge to rolling out the first indigenously built engine-less train.

Even after a massive allocation for Railway's capital expenditure, shares of rail-related stocks including Titagarh Wagons were down 1.31%. Texmaco Rail & Engineering (0.89%), Cimmco (1.84%) and Hind Rectifiers (1.12%), were among other losers on the BSE.

Edited by Chitanjan Kumar