In the fiscal year 2024-25, there are anticipations of a record-breaking budgetary allocation for the Indian Railways, reflecting the government's commitment to a substantial transformation of the national transportation system. This ambitious initiative involves the introduction of additional modern and high-speed trains, coupled with enhanced safety features.

Sources familiar with the matter indicate that the capital expenditure (capex) for the railways is poised for a substantial increase, projected to be around 25% higher than the 2023-24 budget estimates. This surge in funding is expected to elevate the budgetary allocation to over Rs 3 trillion in the upcoming fiscal year.

The railway ministry, in its pursuit of long-term infrastructure enhancements, has sought this augmented capex to facilitate ambitious projects such as the development of freight corridors, faster trains, and the modernisation of the railway fleet, encompassing contemporary trains, wagons, and locomotives.

This heightened capex will also contribute to the introduction of 300-400 Vande Bharat trains in various configurations, including sleeper coaches, alongside the comprehensive overhaul of signalling systems. Moreover, there is an emphasis on nearly doubling the safety budget of the railways, reaching towards the accomplishment of its Mission Zero Accidents at an accelerated pace. Notably, the safety budget has experienced a stagnant phase for the past two years, hovering around Rs 11,000 crore.