Jul 18, 2024 01:41 PM IST
Railway Budget 2024 to focus on ticket fare adjustments, new train introductions, and safety enhancements.
The Railway Budget details expenditures, revenue targets and infrastructure development for the Indian Railways. It is based on review of past fiscal performances and shows financial strategies and allocations with respect to the Railways. This time, ticket fare adjustments, new train introductions and safety enhancements are expected in the Railway Budget 2024. Here is everything you need to know about the Railway Budget:
What is the Railway Budget?
The Railway Budget is the annual financial statement of Indian Railways which outlines the expenditure needed to achieve revenue targets and for the development of the railway network. This budget includes projections for the upcoming year’s finances- expected revenues and planned expenditures. It also includes details about infrastructure, operations and enhancements across the railway sector.
Who will present the Railway Budget this year?
The Railway Budget will be presented by Finance minister Nirmala Sitharaman along with the Union Budget.
When will Railway Budget be announced?
The Railway Budget will be announced during the Union Budget 2024-25 speech on July 23, 2024. The Budget speech will start at 11:00am.
Who is the Railway Minister?
Ashwini Vaishnaw took charge of the Ministry of Railways on June 9, 2024 after the Lok Sabha elections.
Will ticket prices for passengers be lowered?
In February 2024, Indian Railways reduced the ticket prices to pre-covid era. Experts do not expect a similar move in the upcoming Budget.
Will there be any new trains introduced or existing routes expanded this year?
Yes, Nirmala Sitharaman’s speech is likely to include announcements like increasing the number of coaches, upgrading existing trains and new Vande Bharat categories.
