Railway Minister Ashwini Vaishnaw on Tuesday said that Union Budget has a provision of ₹1.37 lakh crore of the capital investment support for the Railways and it will help complete the stalled Railways projects.
He also lauded the announcement about 2,000 km of the network to be brought under Kavach, the indigenous world-class technology for safety and capacity augmentation in 2022-23 as part of Atmanirbhar Bharat.
“Indigenously-developed anti-collision technology Kavach is SIL4 certified which means there is the probability of a single error in 10,000 years. The Union Budget has a provision of ₹1.37 lakh crores of the capital investment support for the Railways. It will help complete the stalled Railways projects,” Vaishnaw said.
“I thank PM Modi for a record allocation for railways. The new Vande Bharat and Kavach (indigenous tech for safety and capacity augmentation) announcement will change passenger experience. There are funds for redevelopment and modernization of stations,” he added.
The minister said, there are funds for redevelopment for the modernization of railway stations as well as the budget also considers the small farmers, small entrepreneurs who live in far-flung areas, tribal brothers and women volunteer organizations.
Finance Minister Nirmala Sitharaman also said in her budget speech that 400 new-generation Vande Bharat Trains with better energy efficiency and passenger riding experience will be developed and manufactured during the next three years.
Download The Mint News App to get Daily Market Updates.
