Finance Minister Nirmal Sitharaman announced the development of three major 'Railway economic corridors programmes' during her Interim Budget 2024-21025 speech in Lok Sabha on Thursday.
Finance Minister Nirmala Sitharaman acknowledged the railway infrastructure's critical role in the nation's connectivity and transport network, and outlined key strategies and allocations aimed at improving and modernising it.
One of the sector's key initiatives is the conversion of 40,000 normal rail bogies to India's first semi-high train, 'Vande Bharat' standards. The move is intended to improve passenger safety, convenience, and comfort.
Nirmala Sitharaman stated in her Budget Session speech on February 1 that Prime Minister Narendra Modi's government would implement three railway corridor programmes: energy, mineral, and cement corridors, port connectivity corridors, and high traffic density corridors.
Finance Minister Nirmala Sitharaman said, "The projects have been identified under the PM Gati Shakti for enabling multi-modal connectivity. They will improve logistics efficiency and reduce cost."
Notably, these projects have been identified as part of the PM Gati Shakti initiative to enable multi-modal connectivity, which will increase logistics efficiency and reduce costs.
The resultant decongestion of high-traffic corridors will also help to improve passenger train operations, resulting in increased safety and travel speed for passengers. Along with dedicated goods corridors, these three economic corridor programmes will accelerate the country's GDP growth and lower logistical costs.
