The Government of India has allocated nearly $18.97bn (Rs1.4tn) for the Indian Ministry of Railways this year as part of Union Budget 2022.
In the budget, Union Finance Minister Nirmala Sitharaman allocated higher funds to the ministry, with an aim to surmount the impact of the Covid-19 pandemic and bolster the country’s economy.
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The Indian Railways will work towards the development of new products and logistics services to support small farmers and Small and Medium Enterprises.
It will consolidate the postal and railways networks for facilitating the movement of parcels.
Additionally, the concept of ‘One Station-One Product’ will be promoted to aid local businesses as well as supply chains.
Under the Atmanirbhar Bharat, around 2,000km of network will be brought under Kavach, the indigenous technology for security and capacity expansion in 2022-23.
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By GlobalDataIn the upcoming three years, around 400 new Vande Bharat Trains will be developed.
During the same period, the railway industry will also witness the inclusion of 100 Gati Shakti Cargo terminals for multimodal logistics centres.
Furthermore, the Indian Government will make advancements towards new ways of financing and faster implementation for the development of metro systems of suitable type at scale.
Work will also be directed towards promoting multimodal connectivity between mass urban transport and railway stations.
In addition, the design of metro systems, including civil structures, will be standardised and re-oriented as per the needs and conditions of the nation.
Last February, the Indian Government revealed plans to commission the Eastern and Western Dedicated Freight Corridors by June this year to minimise the logistics cost for the railway sector.
