Union Budget 2023: Railways Allocated Rs 2.4 Lakh Crore Capital Outlay | Deets Inside

The Economic Survey on January 31 has said that the next 10 years will see a very high level of capital expenditure in the railway sector as capacity growth has to be accelerated

New Delhi: Finance Minister Nirmala Sitharaman, during her first budget presentation of ‘Amrit Kaal’, announced that the government will raise its capital expenditure by 33 percent to 10 trillion rupees ($122.29 billion) in the next fiscal year.

The minister also announced a capital outlay of Rs 2.4 lakh crore provided for Railways; highest-ever allocation since 2013-14. “For enhancing Ease of Doing Business, more than 39,000 compliances have been reduced & more than 3,400 legal provisions have been decriminalized. The Jan Vishwas Bill has been introduced to amend 42 central acts & unleash the potential of our economy,” Nirmala Sitharaman said.

Budget Allocation for Railway increased manifold

2009-14: ₹ 10,623 Cr. Avg. Yearly
2014-19: ₹ 24,347 Cr. Avg. Yearly
2022-23: ₹ 77,271 Cr.
2023-24: ₹ 2,40,000 Cr

The Economic Survey on January 31 has said that the next 10 years will see a very high level of capital expenditure in the railway sector as capacity growth has to be accelerated, so that by 2030 it is ahead of demand.