PremiumUnion Finance Minister Nirmala Sitharaman on Tuesday tabled Union Budget 2022 in the Lok Sabha FM Sitharaman began her presentation of Budget 2022 by expressing empathy with those who were affected by the adverse health and economic effects of the COVID-19 pandemic.
The Finance Minister said that India's economic growth in the current year is estimated to be 9.2 per cent, the highest among all large economies. She also said that Union Budget 2022-23 seeks to lay the foundation and give a blueprint of the economy over the next 25 years.This is the sixth combined budget since the Rail Budget was merged with the Union Budget in 2017.
As a part of Atmanirbhar Bharat, Union Finance Minister Nirmala Sitharaman on Tuesday said that 2,000 km of the rail network will be brought under the indigenous world-class technology KAWACH.
Railways will develop new products and efficient logistics services for small farmers and Small and Medium Enterprises, besides taking the lead in the integration of Postal and Railways networks to provide seamless solutions for themovement of parcels.
‘One Station-One Product’ concept will be popularized to help local businesses & supply chains.
As a part of Atmanirbhar Bharat, 2,000 km of network will be brought under Kavach, the indigenous world-class technology for safety and capacity augmentation in 2022-23.
Four hundred new-generation Vande Bharat Trains with better energy efficiency and passenger riding experience will be developed and manufactured during the next three years. These new trainsets are going to be made of light-weight aluminium, as opposed to steel, making each around 50 tonnes lighter in weight, consuming much less energy than their steel counterparts, FM Nirmala Sitharaman said.
One hundred PM GatiShakti Cargo Terminals for multimodal logistics facilities will be developed during the next three years. Mass Urban Transport including Connectivity to Railways
Innovative ways of financing and faster implementation will be encouraged for building metro systems of appropriate type at scale.
Multimodal connectivity between mass urban transport and railway stations will be facilitated on priority. Design of metro systems, including civil structures, will be re-oriented and standardized for Indian conditions and needs.
“The Indian Railways this year too received generous Budget allocation towards Capex spending. This will act as an impetus for the elaborate blueprint of National Rail Plan. Some important highlights include the introduction of 400 Train Set 18 to improve Rail passenger experience under ‘One Product, One Railway Station’ , investment in Kawach, the signaling and telecommunication infrastructure as well as focus on Atmanirbhar Bharat products are all a positive boost for Indian Railways. Overall, the budget was forward looking," saidSujatha Narayan , Regional Sr.VP , Wabtec India.
Railways is already manufacturing 44 Vande Bharat trains, in order to have these trains running on at least 75 routes by August 15, 2023, as announced by Prime Minister Narendra Modi in his Independence Day speech.
