Budget 2023: Railways gets highest ever capital allocation of Rs 2.40 lakh crore

New Delhi (02/02/2023): Investments in infrastructure and productive capacity have a large multiplier impact on growth and employment. After the subdued period of the pandemic, private investments are growing again. This was mentioned in the Union Budget Speech 2023-24 presented by Union Finance & Corporate Affairs Minister Nirmala Sitharaman in the Parliament here on 1st Feb 2023.

Railways

The Finance Minister stated that a capital outlay of ₹2.40 lakh crore has been provided for the Railways. This highest ever outlay is about 9 times the outlay made in 2013- 14.

Logistics & Regional Connectivity

One hundred critical transport infrastructure projects, for last and first mile connectivity for ports, coal, steel, fertilizer, and food grains sectors have been identified. They will be taken up on priority with investment of ₹75,000 crore, including ₹15,000 crore from private sources. The Finance Minister further said that fifty additional airports, heliports, water aerodromes and advance landing grounds will be revived for improving regional air connectivity.

Harmonized Master List of Infrastructure

Sitharaman also mentioned that an expert committee will review the Harmonized Master List of Infrastructure. The committee will recommend the classification and financing framework suitable for Amrit Kaal.