Finance Minister Nirmala Sitharaman on Monday announced that the central government is allocating Rs 1,10,055 crores for Railways.
She also announced an outlay for capital expenditure amounting to Rs 1,07,100 crores.
Presenting the Union Budget 2021-22, Sitharaman said that the plan of the government is to create a future-ready Railways system by 2030.
"Indian Railways has prepared a National Rail Plan for India 2030. The plan is to create a future-ready railways system by 2030 - bringing down the logistic cost for the industry is at the core of a strategy to enable Make in India. I am providing a record sum of Rs 1,10,055 crores for Railways of which Rs 1,07,100 crores is for capital expenditure only," she said.
The Finance Minister said to further strengthen, high-density network and highly utilised network routes of Railways will be provided with indigenously developed automatic train protection system that eliminates train collision due to human error.
"High-density rail networks and highly utilized rail routes to be provided with indigenously developed automatic train protection system which will eliminate train collision due to human error100 per cent electrification of rail broad gauge routes to be completed by December 2023," she added.