Friday, December 15, 2023

Bid farewell to waitlists! Indian Railways is prepared to spend Rs 1 lakh crore on new trains

 According to Union Railways Minister Ashwini Vaishnaw, the Indian Railways will purchase new trains worth Rs 1 lakh crore in the coming years to meet the growing demand for passenger travel. The primary objective is to replace the out-of-date rolling stock, which will necessitate approximately 7,000-8,000 brand-new train sets. Tenders for this will be given inside the following 4-5 years, he said.

Vaishnaw told ET that the procedure will involve floating train procurement tenders worth about Rs 1 lakh crore, and the older rolling stock will be replaced over the next 15 years.

By optimizing the tracks and increasing the number of trips, this initiative is part of a larger plan to upgrade the Indian Railways, which aims to increase the availability of trains for passengers and goods.

On Indian Railways, there are no waitlists?

Indian Railways currently operates 10,754 daily train trips and intends to add 3,000 more to reduce waiting lists. The Railways have already added 568 trips since the COVID-19 pandemic. This makes it possible to transport 700 million passengers annually, a number that is expected to reach 1,000 million by 2030. The minister stated that waitlisting in the passenger category must be eliminated by the end of the decade, with the exception of peak demand months, by increasing the number of trips by 30%.

Maintenance contracts and conditions requiring that they be manufactured in India using the country's existing railway infrastructure will be included in the proposed orders for train procurement.

Vaishnaw spoke about track infrastructure and said that track laying is going according to plan. He said that 5,500 to 6,000 kilometers of new tracks, at an average of 16 kilometers per day, should be laid by the end of this fiscal year. In contrast, an average of 14 kilometers per day were laid across 5,243 kilometers of tracks during the fiscal year 2022-23.

The culmination of the 1337-kilometer Eastern Committed Cargo Hall and most of the Western Devoted Cargo Passageway will open tracks for quicker development of travelers and merchandise. Gati Shakti Cargo Terminals and new industrial hubs are being built as a result of these developments.

The minister of railways mentioned that track laying is proceeding according to plan and that 70% of the Rs. 2.4 lakh crore capital budget for FY24 has already been utilized.

In addition, Vaishnaw emphasized that the Indian Railways will require an investment of nearly Rs 12 lakh crore by 2030 to accommodate the current rate of economic growth.

The Railways have made significant structural and procedural changes to speed up capital spending, which has allowed the capital budget to be used more efficiently. The capital spending plan is allotted for the extensive modernization of key foundation, including trains, tracks, wellbeing innovation, and stations.

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