Railway Ministry requests 30% increase for FY24 budget
RAILWAYS & METRO RAIL

Railway Ministry requests 30% increase for FY24 budget

To facilitate the introduction of new trains and improvements to the current rail infrastructure, the ministry of railways has requested from the finance ministry a financial allocation that is 30% greater for FY24.

The railways have stated that they will need an additional 30% of funding for the upcoming fiscal year in order to introduce new Vande Bharat trains, build new rails, and improve security.

A 17% increase over the last financial year's allocation, the ministry received gross budgetary support (GBS) in FY23 of Rs. 1.37 lakh crore for capital expenditure and Rs. 3,267 crore for revenue expenditure.

By October 31, it had used up around 93% of its budgeted amount, spending 1.02 lakh crore from the capital budget and going above its allotted amount for revenue expenditures by 25,399 crore. The allocation will be finalised by the end of the month, according to a finance ministry official, and the railways should receive a "significant rise."

It will undoubtedly be a significant increase, but the ministry might not need to allocate that much money.

In addition to the income from asset monetisation, the railways have maintained their expectations for own internal revenue for FY24 at approximately the same level as this year.

Also read:
India's first vertical lift sea bridge to be completed soon
CORE completes electrifying numerous segments and routes


To facilitate the introduction of new trains and improvements to the current rail infrastructure, the ministry of railways has requested from the finance ministry a financial allocation that is 30% greater for FY24. The railways have stated that they will need an additional 30% of funding for the upcoming fiscal year in order to introduce new Vande Bharat trains, build new rails, and improve security. A 17% increase over the last financial year's allocation, the ministry received gross budgetary support (GBS) in FY23 of Rs. 1.37 lakh crore for capital expenditure and Rs. 3,267 crore for revenue expenditure. By October 31, it had used up around 93% of its budgeted amount, spending 1.02 lakh crore from the capital budget and going above its allotted amount for revenue expenditures by 25,399 crore. The allocation will be finalised by the end of the month, according to a finance ministry official, and the railways should receive a significant rise. It will undoubtedly be a significant increase, but the ministry might not need to allocate that much money. In addition to the income from asset monetisation, the railways have maintained their expectations for own internal revenue for FY24 at approximately the same level as this year. Also read: India's first vertical lift sea bridge to be completed soon CORE completes electrifying numerous segments and routes

Next Story
Infrastructure Transport

Railway stations in Prayagraj undergo major passenger facility expansion

The Railway Board Chairman and CEO, Satish Kumar, conducted an extensive inspection on Saturday alongside the General Manager of Northern Railway and the officiating General Manager of North Central Railway. Their visit focused on various ongoing projects at multiple stations across the Northern and North Central Railway zones, with particular attention to enhancing facilities for the upcoming Maha Kumbh. During the inspection, Chairman Kumar reviewed the construction of a vital bridge over the River Ganga, specifically between Jhunsi and Prayagraj Rambagh. This bridge is expected to significa..

Next Story
Infrastructure Transport

Madurai-Thoothukudi broad gauge line works under review

The construction of the Madurai-Thoothukudi broad gauge line, which includes the crucial Melmarudur-Tiruparankundram project, is currently under careful review. This update comes from Southern Railway's assistant public information officer, J Kumarasubramanian, following an RTI inquiry made by a concerned citizen, Dayanand Krishnan. The new broad gauge line is projected to cover a total length of 143.5 km, with the initial 18 km stretch between Milavittan and Melmarudur completed and sanctioned by the Commission of Railway Safety on March 8, 2022. While substantial progress has been made on t..

Next Story
Real Estate

DLF expects Rs 26,000 cr from super luxury project in Gurugram

Realty giant DLF is projecting impressive revenue of Rs 26,000 crore from its newly unveiled super-luxury project, The Dahlias, situated in the heart of Gurugram. Ashok Tyagi, the Managing Director of DLF, shared these insights during a recent conference call with market analysts, highlighting the project's potential amidst rising demand for high-end residential properties. The Dahlias project spans an expansive 17 acres and is set to feature approximately 420 ultra-luxury apartments, each boasting a minimum size of 10,300 square feet. This ambitious development has already garnered significan..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000