"Finance Minister Allocates Rs 25,000 Crore for High-Speed Train Project"

In a significant development, Finance Minister Nirmala Sitharaman announced a substantial increase in the budgetary allocation for the National High-Speed Rail Corporation (NHSRCL) to Rs. 25,000 crore for the fiscal year 2024-25. Simultaneously, the budget for the Dedicated Freight Corridor Corporation of India (DFCCIL) has been reduced to Rs. 4155 crore in the same fiscal year, down from Rs. 14,526 crore in the previous fiscal year.

The budgetary allocation for the high-speed rail project stood at Rs. 18,592 crore in the fiscal year 2023-24. Railways Minister Ashwini Vaishnaw recently confirmed that NHSRCL has successfully completed 100% land acquisition for the Mumbai-Ahmedabad Rail Corridor, commonly known as the bullet train project, covering Gujarat, Maharashtra, and Dadra and Nagar Haveli.

The high-speed rail line, utilizing Japan's Shinkansen technology, aims to connect Mumbai and Ahmedabad, creating a high-frequency mass transportation system. The project, funded by the Japan International Cooperation Agency (JICA) with a soft loan of Rs. 88,000 crore from Japan, faced delays in land acquisition, pushing the expected completion date to 2026.

The overall investment in public enterprises under the Ministry of Railways remains steady at Rs 2.65 lakh crore, maintaining the same level as the fiscal year 2023-24, while the net revenue expenditure of Railways is estimated at Rs 2,78,500 crore in Budget Estimate 2024-25, compared to Rs 2,58,600 crore in the previous fiscal year.

The Capital Expenditure provision for Budget Estimate 2024-25 includes Rs. 2,52,000 crore from General Revenues, Rs. 200 crore from Nirbhaya Fund, Rs. 3,000 crore from Internal Resources, and Rs. 10,000 crore from Extra Budgetary Resources (EBR).

Total receipts of Railways, comprising revenues from passengers, goods, other coaching, sundry other heads, and Railway Recruitment Boards, are estimated at Rs 2,78,500 crore in Budget Estimate 2024-25, compared to Rs. 2,58,600 crore in the Revised Estimate for 2023-24.

ET