GoI Allocates Rs 2.52 Lakh Crore for Railway Expansion in Budget 2025-26
New Delhi: The Union Government has allocated a whopping amount of Rs 2.52 lakh crore for the expansion of railways in the budget 2025-26, welcoming this provision as a significant step towards providing better facilities to passengers and boosting economic growth.
Union Minister Ashwini Vaishnaw described the Budget 2025-26 as 'balanced' and pro-middle class due to the new income tax exemption limit of Rs 12 lakh. He commended Finance Minister Nirmala Sitharaman for continuing India's growth story by maintaining capital expenditure momentum, allocating an amount of Rs 11.2 lakh crore.
Vaishnaw expressed his optimism about the allocation, which will further take the railway network to every corner of the country, improving facilities for passengers and construction of new stations. The proposals also include 100 new Amrit Bharat trains, 200 Vande Bharat trains, 50 Namo Bharat trains, and 1,000 flyovers and underpasses.
Another innovative provision in the Budget is allowing maintenance, repair, and operations (MROs) for the railway sector on similar lines to existing facilities for airlines and ships. This move aims to generate jobs through India-based operations related to repair of railway systems, motors, and engines from anywhere in the world.
The Union Minister also praised the provisions in the Budget for India's semiconductor and AI Missions. Highlighting support for salaried families, Vaishnaw stated that the enhanced income tax exemption limit is a gift for middle-class families, which will help them enhance savings and provide funds for buying new homes and facilities.
India's Farmers' Welfare Scheme also gained attention from Minister Ashwini Vaishnaw, who emphasized its potential to generate new jobs. Moreover, Jitendra Singh, Minister of State (Independent Charge) of Science and Technology, lauded the Budget for being sensitive, far-sighted, and bold.
According to Singh, this budget marks a significant departure from the country's previous approach of taking cues from other nations, as India now decides its own targets. The allocation of Rs 20,000 crore for small modular reactors is an encouraging sign of the government's commitment towards atomic energy development.
At least five indigenously developed SMRs are anticipated to be made operational by 2033, which could potentially surprise the world.
In a statement, Union Minister Vaishnaw concluded stating "The Budget is set in motion by aligning the vision and objectives with expectations of growth while balancing its vision and maintaining balance on multiple levels".