NEW DELHI: Railways Minister Ashwini Vaishnav revealed plans for a massive investment of Rs.1 lakh crore in new trains by the Indian Railways. This substantial investment aims to meet the rising demand for passenger travel across the country.

The initiative is part of a larger strategy to upgrade railway infrastructure, intending to boost the number of train trips and enhance the availability of trains for both goods and services. Vaishnav outlined the goal to replace outdated rolling stock by acquiring 7,000-8,000 new train sets. The procurement process for these trains, estimated to cost around Rs.1 lakh crore, will span the next 15 years.

Vaishnav emphasized that approximately 70 percent of the Railways' Rs.2.4 lakh crore budget for FY24 has already been utilized. He highlighted the ongoing progress in track laying projects, stating the necessity of an investment of nearly Rs.12 lakh crore in the Indian Railways to keep pace with the current economic growth by 2030.

Furthermore, the procurement of these new trains will involve contracts for maintenance and will entail specific conditions mandating their production within India, leveraging the existing railway infrastructure.

Vaishnav also underscored significant reforms that have expedited capital spending within the Railways. The allocated capital budget is intended for substantial renovation, covering crucial aspects such as trains, tracks, safety technology, and stations.

Regarding ongoing projects, the minister mentioned the imminent completion of the 1337 km Eastern Dedicated Freight Corridor, which is expected to create new industrial hubs and facilitate Gati Shakti Cargo Terminals. Additionally, around 80 percent of the Western Dedicated Freight Corridor has already been completed.

Vaishnav revealed that in the current fiscal year, approximately 5,000-6,000 km of tracks have been laid, averaging 16 km per day. This is a notable increase compared to 5,243 km laid in FY23, averaging 14 km per day.

To address waiting lists in passenger categories, the Railways aims to add 3,000 more trains to its existing 10,754 daily train trips. Vaishnav expressed the goal of eliminating waiting lists, except during peak demand months, by aiming for a 30 percent increase in trips by the end of this decade.

Notably, the Indian Railways currently accommodates 700 crore passengers annually, a figure that is expected to rise to 1,000 crore by 2030.

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