The Indian Railways is set to invest ₹1 lakh crore in procuring new trains in the coming years, according to Union Railways Minister Ashwini Vaishnaw. The decision is a response to the growing demand in the passenger travel sector and is part of a broader initiative to enhance the frequency of trips and the availability of trains for both goods and services.
Modernizing Indian Railways: Ambitious Plans for New Train Sets and Infrastructure Investment
Minister Vaishnaw emphasized the need to replace aging rolling stock, requiring approximately 7,000-8,000 new train sets. Tenders for these acquisitions will be issued over the next four to five years, involving a substantial investment of ₹1 lakh crore. This investment will be spread across the next 15 years to replace older rolling stock.
Additionally, Vaishnaw revealed that 70 percent of the ₹2.4 lakh crore budget for FY24 has already been utilized. He highlighted the progress in the track laying project, stating that an investment of nearly ₹12 lakh crore in the Indian Railways will be necessary to accommodate the expected economic growth by 2030.
The procurement of new trains will include maintenance contracts and specific conditions mandating production within India, leveraging the existing Railway infrastructure.
Revitalizing Indian Railways: Infrastructure Upgrades, Project Milestones, and Expansion Plans
Vaishnaw also outlined significant structural and procedural reforms aimed at expediting capital spending within the Railways. The allocated capital budget is earmarked for comprehensive renovations, covering critical infrastructure such as trains, tracks, safety technology, and stations.
Providing updates on ongoing projects, Vaishnaw mentioned that the completion of the 1337 km Eastern Dedicated Freight Corridor will create new industrial hubs and support Gati Shakti Cargo Terminals. Additionally, 80 percent of the Western Dedicated Freight Corridor has been completed.
In terms of track laying, the minister highlighted a notable increase, with 5,000-6,000 km laid in the current fiscal year, averaging 16 km per day. This marks an improvement compared to the 5,243 km laid in FY23 at an average of 14 km per day.
To address waiting lists in passenger categories, the Indian Railways plans to add 3,000 more trains, aiming for a 30 percent increase in trips by the end of the decade. Currently operating 10,754 daily train trips, the goal is to eliminate waiting lists, except during peak demand months, and accommodate an estimated 1,000 crore annual passengers by 2030, up from the current 700 crore passengers accommodated annually.
