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Finance Minister Nirmala Sitharaman revealed three new corridors for the railways – the Energy, Mineral, and Cement Corridor, Port Connectivity Corridor, and High Traffic Density Corridor – during her interim budget speech in the Lok Sabha on Thursday. These corridors, identified under the PM Gati Shakti scheme for enhancing multi-modal connectivity, are expected to reduce costs and enhance operational efficiency.
In a bid to prioritise safety and convenience for passengers, Sitharaman also announced the conversion of 40,000 bogies to the Vande Bharat standard. The move aligns with the government's commitment to modernise and upgrade railway infrastructure.
The specific figure for railway capital expenditure (capex) is yet to be disclosed. Railway Minister Ashwini Vaishnaw, in an interaction at the World Economic Forum 2024 in Davos, highlighted significant progress in the expansion and modernisation of railways. He mentioned that 5,200 kilometres of new tracks were added in the previous year, achieving a remarkable pace. The current target is set at an ambitious 15 kilometres of tracks per day.
Outlining the capex plan of ₹2.4 lakh crore, Vaishnaw reported that 77% of it has been completed as of the present date. He emphasised the global interest in Kavach technology, noting its perceived superiority compared to established technologies. International players are keen to participate in Kavach, foreseeing opportunities in North America, Australia, South Africa, and Southeast Asian markets, according to the Railway Minister.
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