The Union Railways Minister, Ashwini Vaishnaw, revealed that the Indian Railways is set to invest Rs 1 trillion in acquiring new trains in the coming years, responding to the growing demand in passenger travel. This initiative is part of a broader upgrade aimed at expanding trip frequencies and enhancing train availability for both goods and services.

Vaishnaw emphasised the need to replace aging rolling stock, estimating a requirement of 7,000-8,000 new train sets. The procurement process for these sets is expected to span the next four to five years, with tender calls totalling around Rs 1 trllion. This investment, spread over 15 years, will replace older rolling stock.

The minister highlighted that 70% of the Railways' Rs 2.4 trillion budget for FY24 has already been utilised. He noted progress in the track laying project and stressed the necessity of a Rs 12 trillion investment in the Indian Railways by 2030 to accommodate the current economic growth.

The proposed train procurement involves maintenance contracts and stipulates production within India, leveraging existing Railway infrastructure. Vaishnaw outlined structural and procedural reforms facilitating capital spending on critical infrastructure such as trains, tracks, safety technology, and stations.

Vaishnaw provided updates on specific projects, including the imminent completion of the 1337 km Eastern Dedicated Freight Corridor, expected to create industrial hubs and Gati Shakti Cargo Terminals. Additionally, 80% of the Western Dedicated Freight Corridor is already complete.

Regarding track laying, Vaishnaw reported a significant increase, with 5,000-6,000 km laid in the current fiscal year, averaging 16 km per day. This marks an improvement over the 5,243 km laid in FY23 at 14 km per day.

To address waiting lists, the Indian Railways, currently operating 10,754 daily train trips, plans to add 3,000 more trains. The objective is to eliminate waiting lists, with a targeted 30% increase in trips by the end of the decade. Despite challenges posed by peak demand months, the Railways has increased trips by 568 compared to pre-Covid years, accommodating 700 crore passengers annually, with an expected rise to 1,000 crore annual passengers by 2030.