New Delhi: Union Finance Minister Arun Jaitley on Thursday announced a capital expenditure allocation of Rs 1.48 lakh crore for the railways, the highest ever for the sector, with a greater emphasis on modernisation and passenger safety. However, no major new trains were announced.
“12,000 wagons, 5160 coaches and 700 locomotives are being procured. There is significant achievements of physical targets by Railways,” Jaitley said.
The Finance Minister said redevelopment of 600 major railway stations had been taken up.
He said all railways stations with more than 25,000 footfall would have escalators and CCTVs and Wi-Fi facilities would also be set up.
The government will also spend around Rs 40,000 crore on upgrading the Mumbai’s local train systems.
The budget also proposes setting up of a specialised railway university at Vadodara as a training centre for manpower required for high-speed railway projects.