Indian Railways to become an engine of national growth

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New Delhi: Indian Railways will become one of India’s most important national growth sectors, according to the recently released economic survey. Capital expenditure (Capex) in 2021-22 is five times the expenditure in 2014. Indian Railways aims to achieve full electrification by 2023.Also Read – Economic Survey: Service sector hardest hit by COVID, but contributed over 50% to India’s GDP

According to the survey, the National Railway Plan “envisions the creation of a future-ready railway system capable of not only meeting passenger demand, but also increasing the modal share of railways in the freight at 40-45% compared to the current level of 26”. -27%.” Also Read – Budget 2022: Here’s what the MSME sector expects FM Sitharaman to announce tomorrow

The survey also identified railway projects in two categories, super critical and critical. 58 projects have been identified as super critical and expected to be completed by December 2022. Along with this, 68 projects have been identified as critical and expected to be completed by March 2024. Capital expenditure increased to Rs 2.15 000 crores. in 2021 against Rs 45,980 crores in 2014. Also Read – GDP expected to grow 8-8.5%, India will remain world’s fastest economy, says chief economic adviser

Indian Railways ‘strives to provide safe and efficient transportation’

The survey also said: “As the third largest network in the world under single management and with over 68,102 km of route, IR strives to provide a safe, efficient, competitive and world-class transport system.” In FY21, Indian Railways carried 1.23 billion tons of freight and 1.25 billion passengers.

In addition, the pace of laying new railway tracks has also increased in recent years. According to the survey, an average of 1,835 km of track per year of new track length was laid between 2014 and 2021. During the period 2009-2014, this average was 720 km per year.

Vision 2024

The document also outlined a 2024 vision for India Railways. During the first half of the decade, the government will concentrate on completing the projects already approved. In the second half, new plans with faster railways will be introduced, according to the survey.

“The first push must be provided by the Vision 2024 plan to prioritize and complete sanctioned projects so that rail capacity does not fall far behind the targeted modal share, so that by the time capacity is finally created, traffic will would be moved to another mode,” the survey read.

He continued: “In the second half of the decade, the aim is to bring into service new dedicated freight corridors as well as high-speed passenger corridors, in addition to multitracking and signaling of route modernization. cluttered.”

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