IRCTC Latest News Today: Part of its massive plan to enhance its services, the Indian Railways on Saturday said it will spend Rs 40,000 crore to manufacture 8,000 locomotives, coaches and wagons in FY22, a significant jump from 5000 that were built in FY21. Also Read - Indian Railways Latest News: Platform Ticket Rates Hiked. Check Price Details Here

The development comes as the national transporter had in FY20 manufactured 7,000 locomotives, wagons and coaches. However, the Covid-19 pandemic decelerated the production process at Railways’ coach factories this year. Also Read - Entertainment on Wheels: Railways Set to Introduce On-Demand Movies, Videos, News in Different Languages on Trains. Deets Inside

Addressing a gathering on January 28, Union Railways Minister Piyush Goyal called for collaboration and investments from the industries to transform the national transporter into a smart organization. Also Read - Indian Railways Directs IRCTC to Cancel all Contracts of Mobile Catering

“I want Railways to be a modern, agile, safe, reliable part of the economy and make technology the overarching support system for logistics and transport in both passenger and freight business,” Goyal said.

The Railways minister pointed out the industry’s widespread smart solutions for the clearance of around 200 infrastructure projects that were put off from multiple years.

“A cargo train from Mumbai reaches Guwahati in approximately two and a half days compared to the earlier timeline of seven days. It has been a collective effort of industry and Railways which has helped to drive changes like faster speed for freight trains, extensive electrification of tracks to aid in total elimination of diesel ecosystem and shift from single tracks to double tracking,” Goyal said.

The Centre’s production linked incentive (PLI) scheme is meant to boost India’s exports and manufacturing capabilities. The PLI scheme has been launched for 10 key sectors and the industry is confident of some of these benefits favouring the railways especially in the steel and components sector.

This PLI will assist the national transporter to go head-to-head with roadways that attracts the majority of automobile freight, a sector that has availed PLI-incentive worth Rs 57000 crore.