New Delhi: Union railways minister Piyush Goyal on Friday hailed Budget 2019 as ‘reform-oriented’ and lauded how it will give huge thrust to startups, job creation and Make in India, in addition to working on ‘ease of living’ for the poor.

All you need to know about Union Budget 2019

Speaking to the media, Piyush Goyal said, “It has given a huge thrust to startup, job creation, Make in India. It has given pension to the traders, a large part of the community that was left out of the social security network. It’s very reform-oriented. So it’s a budget for 130 crore Indians.” He added that it is a ‘budget for all’ and how it aims to address ‘issue of the poor and middle class’.

Union Finance Minister Nirmala Sitharaman on Friday stressed that the railways need an investment of Rs 50 lakh crore from 2018 to 2030 and proposed a public-private partnership to unleash faster development of passenger and freight services. Presenting the Union Budget in Parliament, Sitharaman said: “It is estimated that railway infrastructure would need an investment of Rs 50 lakh crore between 2018 to 2030.

“Given that the capital expenditure outlays of railways is between Rs 1.5 to 1.6 lakh crore per annum, completing even all sanctioned projects would take decades. It is therefore proposed to use public-private partnership to unleash faster development and completion of tracks and rolling stock manufacture and also the delivery of passenger freight services,” she said.

On this, Piyush Goyal thanked the finance minister and said, ” I would really like to thank Finance Minister for strengthening the resolve of the Railways.”

Railways will be encouraged to invest more in the suburban network through special purpose vehicle structures such as the Rapid Regional Transport System, Union Finance Minister Nirmala Sitharaman told Parliament today.

Such a Rapid Regional Transport System is proposed on the Delhi-Meerut route.

“I propose to enhance the metro railway initiative by encouraging more public-private partnership initiatives and ensuring completion of sanctioned works while supporting transit-oriented development to ensure commercial activity around transit hubs,” she added.

 

With IANS inputs