Railways get Huge allocation of Rs 1.48 Lakh CR

New Delhi Feb 2: Finance minister Arun Jaitley on Thursday has presented the budget.The FM has allocated a higher revenue for Railways for the upcoming fiscal year.The FM has allocated a huge amount of Rs1.48 lakh crore for Indian Railways to raise its carrying capacity and improve the train travel experience.

Sources said that "Of this, Rs1.46 lakh crore is capital expenditure, while Rs2,028 crore is to reimburse operating losses on strategic lines and reimburse Indian Railway Catering and Tourism Corporation for the operational cost of e-ticketing."

Jaitley has also said that "a large part of the expenditure is for capacity creation, and mentioned different initiatives being taken such as track doubling, and third and fourth line works of 18,000 km; 5,000 km of gauge conversion; redeveloping 600 railway stations, equipping them with Wi-Fi and CCTV cameras; introduction of modern train-sets; and escalators for stations with footfalls over 25,000."