President Ram Nath Kovind highlighted the achievements of the Narendra Modi government for pushing development and infrastructure projects in the country.
President Ram Nath Kovind addressed a joint session of Parliament ahead of tabling the Economic Survey 2021-22. In his address to the joint sitting of both Houses of Parliament at the start of the Budget Session, President Kovind said that the government is modernizing the Indian Railways at a fast pace. In the last seven years, 24,000 km of railway route has been electrified.
On February 1, Finance Minister Nirmala Sitharaman will present the Union budget for the year 2022-23 at the ongoing Budget Session. She will also table the Economic Survey 2021-22 today (Jan 31). President Ram Nath Kovind also highlighted the achievements of the Narendra Modi government for pushing development and infrastructure projects in the country.
It is expected that the Centre may propose further electrification of a record 7,000 km railway track in the Budget. In the Union Budget, the Centre may allocate close to Rs 10,000 crore for electrification in FY22-23. Last year, the government had allocated Rs 7,452 crore for electrification projects in the Budget as part of its efforts to achieve full electrification of broad-gauge railway lines by the end of next year.
The Indian Railways earlier proposed a plan to become the world’s first 100 percent green railway system by 2030. Under the same, Railways targets electrification of all its routes by December 2023. As mentioned by President Kovind, already 24,000 km has been electrified and 7,000 km is expected this year.
As per a report, the government expects full electrification of the broad-gauge system to help reduce emissions and save about Rs 13,500 crore annually on the fuel bill. In her fourth budget presentation, FM Nirmala Sitharaman is likely to increase the total outlay for the rail budget by 15-20 percent, IANS reported.
