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Anticipation is steadily building for the Union Budget of 2024, which President Murmu has hinted could be “historic”. Stakeholders are optimistic about policies aimed at enhancing domestic production and fostering economic growth. Consumers, on the other hand, eagerly await the potential benefits coming their way—including ones from the upcoming <keyword id="12026484" type="General" weightage="100" keywordseo="Railway-budget" source="Orion">Railway budget</keyword>. According to reports thus far, the Union Budget of 2024 is expected to place a significant emphasis on the Railway industry—one of the three cores of the Indian economy. This time, there is a strong expectation that the Railway budget will address various consumer-centric issues, including travel safety and overall experience quality. As Finance Minister Nirmala Sitharaman prepares to present the Union Budget on July 23, here are some key expectations for the Railway industry: <cmsannotation type="cmsannotation" annotationid="Highest-ever allocation for Indian Railways budget" comment="subhead" text="Highest-ever allocation for Indian Railways budget">Highest-ever allocation for <keyword id="6355455" type="General" weightage="20" keywordseo="Indian-Railways" source="Orion">Indian Railways</keyword> budget</cmsannotation> <keyword id="15478236" type="General" weightage="20" keywordseo="budget-2024" source="Orion">Budget 2024</keyword> is anticipated to heavily focus on several aspects of the railway sector. In the interim budget of 2024, the <keyword id="19905911" type="General" weightage="20" keywordseo="Ministry-of-Railways" source="keywords" meta.keywordsubtype="org" meta.entityname="Ministry of Railways" meta.hostid="261" meta.entityid="Ministry of Railways">Ministry of Railways</keyword> was allocated Rs 2.55 lakh crore for the fiscal year 2024-25. However, the upcoming budget is expected to increase this allocation significantly, ET NOW reports. It could potentially reach Rs 3 lakh crore, marking the highest-ever allocation for this sector. <cmsannotation type="cmsannotation" annotationid="Increased focus on passenger safety and capacity" comment="subhead" text="Increased focus on passenger safety and capacity">Increased focus on passenger safety and capacity</cmsannotation> During the Lok Sabha elections, the <keyword id="6360676" type="General" weightage="20" keywordseo="railways" source="Orion">railways</keyword> ministry faced significant criticism for various safety incidents and overcrowding in general coaches. To address these issues, the ministry is expected to allocate substantial funds to prevent operational mishaps, expand rail capacity and reduce congestion, the Business Standard reports. The government is expected to focus on the implementation of Kavach, an indigenously developed Automatic Train Protection System. Experts welcome the government’s emphasis on safety upgrades, particularly the network-wide implementation of train protection systems and the mechanisation of maintenance operations. <cmsannotation type="cmsannotation" annotationid="Enhancing passenger travel experience and quality" comment="subhead" text="Enhancing passenger travel experience and quality">Enhancing passenger travel experience and quality</cmsannotation> The budget is also anticipated to focus on improving facilities for passengers, modernising amenities and enhancing the overall quality of railway travel, as per Goodreturns. Capital expenditure will likely be directed towards upgrading coaches, with an initial plan to upgrade 40,000 bogies, and improving sanitation facilities. Passenger comfort and safety will continue to be priorities as the public increasingly values comfort over cost. <cmsannotation type="cmsannotation" annotationid="Possible reinstatement of Senior Citizen Railway Concession" comment="subhead" text="Possible reinstatement of Senior Citizen Railway Concession">Possible reinstatement of <keyword id="22455972" type="General" weightage="20" keywordseo="Senior-Citizen-Railway-Concession" source="keywords">Senior Citizen Railway Concession</keyword></cmsannotation> There is growing anticipation about the potential reinstatement of the Senior Citizen Railway Concession during Budget 2024, according to Business Today. This move is seen as particularly significant ahead of the upcoming general elections later this year. In March 2020, the Indian Railways discontinued discounts on train fares for senior citizens and women, requiring them to pay full fares like other passengers. Previously, the Senior Citizen Railway Concession was available for all classes of mail and express trains. Reports and RTI inquiries have revealed that the withdrawal of these concessions led to significant additional revenue for the Railways. During the suspension period, the Indian Railways accrued Rs 5,062 crore from eight crore senior citizens, with Rs 2,242 crore resulting from the absence of concessions. <cmsannotation type="cmsannotation" annotationid="Prioritising infrastructure spending" comment="subhead" text="Prioritising infrastructure spending">Prioritising infrastructure spending</cmsannotation> The <keyword id="19935166" type="General" weightage="20" keywordseo="Union-Budget-2024" source="keywords">Union Budget 2024</keyword> is expected to prioritise infrastructure spending, the Goodreturns report adds. The focus is likely to be on rapid development and completion of tracks, rolling stock manufacturing and delivery of passenger freight services. Capital funds are likely to be allocated for expanding the metro network, NaMo Bharat corridors, Vande Bharat trains, high-speed corridors and economic corridors. Plans also include developing a high-speed rail network like the Mumbai-Ahmedabad route and allocating funds towards the Rapid Rail Transport System.

Union Budget 2024 for Railways: Expectations focused on improving passenger safety, experience, infrastructure

As expected, leaders from the Bharatiya Janata Party (<keyword id="19894848" type="General" weightage="20" keywordseo="BJP" source="keywords">BJP</keyword>) cannot stop singing praises of the Union Budget 2024-2025 presented by Finiance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword> earlier today. However, moments after <keyword id="20385790" type="General" weightage="20" keywordseo="Union-Finance-Minister" source="keywords" meta.keywordsubtype="org" meta.entityname="Union Finance Minister" meta.hostid="261" meta.entityid="Union Finance Minister">Union Finance Minister</keyword> Nirmala Sitharaman presented the <keyword id="19955368" type="General" weightage="100" keywordseo="Budget-2024" source="keywords">Budget 2024</keyword> in Parliament, the <keyword id="19895371" type="General" weightage="20" keywordseo="Congress" source="keywords" meta.keywordsubtype="org" meta.entityname="Congress" meta.hostid="261" meta.entityid="Congress">Congress</keyword> party launched a critical attack on the ruling Centre. They claimed that portions of the fiscal document had been lifted directly from their <keyword id="19977669" type="General" weightage="20" keywordseo="Manifesto" source="keywords">manifesto</keyword> for the Lok Sabha elections held earlier this year. <h2><keyword id="19895780" type="General" weightage="20" keywordseo="Rahul-Gandhi" source="keywords">Rahul Gandhi</keyword>'s "Kursi Bachao" Budget comment</h2>Leader of Opposition Rahul Gandhi criticised the Budget, describing it as the "Kursi Bachao" (Save the Seat) Budget, aimed at appeasing the BJP's allies and cronies. He alleged that the document was copied from the Congress party's Lok Sabha polls manifesto. "Kursi Bachao Budget. Appease Allies: Hollow promises to them at the cost of other states. Appease Cronies: Benefits to AA with no relief for the common Indian. Copy and Paste: Congress manifesto and previous budgets," Gandhi said in a post on X (formerly Twitter). <div type="twitter" handle="RahulGandhi" handlename="RahulGandhi" favoritecount="0" retweetcount="0" id="1815672226584166514"></div><h2><keyword id="19934649" type="General" weightage="20" keywordseo="P-Chidambaram" source="keywords">P Chidambaram</keyword> takes dig at the Nirmala Sitharaman</h2>Former Finance Minister and senior Congress leader P Chidambaram expressed his satisfaction over what he perceived as the government's adoption of ideas originally proposed by the Congress. "I am happy the Union Finance Minister has virtually adopted the Employment-linked Incentive (ELI) outlined on page 30 of the Congress Manifesto," tweeted Chidambaram. He further noted his approval of the introduction of an apprenticeship scheme with allowances for apprentices, a concept detailed on page 11 of the Congress Manifesto. <div type="twitter" handle="PChidambaram_IN" handlename="PChidambaram_IN" favoritecount="0" retweetcount="0" id="1815638125168783772"></div> <div type="twitter" handle="PChidambaram_IN" handlename="PChidambaram_IN" favoritecount="0" retweetcount="0" id="1815641688922063221"></div><h2><keyword id="19897159" type="General" weightage="20" keywordseo="Mallikarjun-Kharge" source="keywords">Mallikarjun Kharge</keyword> highlights 10 areas the Budget 2024 went wrong</h2>The President of the Indian National Congress Karge called the <keyword id="19916814" type="General" weightage="20" keywordseo="Modi-Government" source="keywords">Modi Government</keyword> a "copycat" while going on to suggest that they could not even copy Congress' justice agenda properly. Here’s an English translation of his tweet: “The Modi Government's budget is distributing half-hearted "rewadis" to dupe its coalition partners so that the NDA survives. This is not a budget for "progress of the country", it is a "save Modi government" budget! 1. After 10 years, limited announcements have been made for the youth who are bearing the brunt of the slogan of two crore jobs per year. 2. Only superficial talks have been held for farmers, one and a half times MSP and doubling of income - all turned out to be electoral fraud! This government has no intention of increasing rural wages. 3. There is no revolutionary scheme for Dalits, Adivasis, backward classes, minorities, middle class and rural poor people like the one implemented by Congress-UPA. The word "poor" has become just a means of self-branding, there is nothing concrete! 4. There is nothing in this budget for women that would enhance their economic capacity and enable them to participate more and more in the workforce. 5. On the contrary, the government is patting its back on the back for rising inflation; it is robbing people of their hard-earned money and distributing it among its capitalist friends! 6. Less money has been spent on agriculture, health, education, public welfare and tribals than the budget allocation because these are not the priorities of the BJP. Similarly, Rs 1 lakh crore less has been spent on Capital Expenditure, so how will jobs increase? 7. Urban Development, Rural Development, Infrastructure, Manufacturing, MSME, Investment, EV scheme - only Document, Policy, Vision, Review etc. have been discussed, but no major announcement has been made. 8. Railway accidents are happening every day, trains have been stopped, the number of coaches has been reduced, ordinary passengers are troubled, but nothing has been said about the railways in the budget, there is no accountability. 9. Nothing has been said about Census and caste census, whereas this is the fifth budget which is being presented without Census! This is a shocking and unprecedented failure - which is against democracy and the Constitution! 10. On 20 May 2024, i.e. during the elections, Modi ji claimed in an interview that "We already have a 100-day action plan "... When the Action Plan was there two months ago, they should have at least told it in the budget! There is no plan in the budget and BJP is only busy in the action of cheating the public.” <div type="twitter" handle="kharge" handlename="kharge" favoritecount="0" retweetcount="0" id="1815669463284416605"></div> <div type="Article" hostid="261" msid="111917247" title="Budget 2024: Can Lakhpati Didi Yojana’s reality inspire better focus on women?" mstype="2" mssubtype="0"></div><h2>Jairam Ramesh accuses Centre of stealing ideas from the Congress</h2>In her Budget address, Sitharaman announced that the government would provide a month's wage to all first-time employees in formal sectors. This direct benefit transfer, disbursed in three installments, will cover employees registered with the Employees’ Provident Fund Organisation (EPFO) and amount up to ₹15,000 per individual. The eligibility limit is set at ₹1 lakh per month, potentially benefiting 2.1 crore youth across the country. Congress MP and communications in charge Jairam Ramesh also accused the Finance Minister of taking ideas from the Congress's "Nyay Patra 2024." He claimed the internship program announced in the budget was a clear adaptation of the Congress's proposed Apprenticeship Program called "Pehli Naukri Pakki." He also insinuated that this particular scheme seemed to have been come up with in haste. <div type="twitter" handle="jairam_ramesh" handlename="jairam_ramesh" favoritecount="0" retweetcount="0" id="1815714388340568111"></div>Ramesh critiqued the government's approach, describing it as a "festive offer" designed to capture headlines with arbitrary targets, such as the promise of one crore internships. He argued that the Congress's vision offered a programmatic guarantee for all diploma holders and graduates, rather than the broad and unfocused targets announced by the government. <div type="Article" hostid="261" msid="111944393" title="Here&amp;#39;s a quick overview of PM Modi 3.0 government&amp;#39;s first budget, to be presented by FM Nirmala Sitharaman today" mstype="2" mssubtype="0"></div>Ramesh also pointedly criticised the government over a special package for Andhra Pradesh, highlighting a ₹15,000 crore allocation aimed at developing Amaravati, the state's capital city and a significant project for Chief Minister Chandrababu Naidu. "Why has it taken 10 years to announce that what was already committed to in the Andhra Pradesh Reorganisation Act, 2014 will be implemented?" questioned Ramesh in a post on X.

From ‘Copycat’ to ‘Kursi Bachao Budget' — Here’s what Rahul and other Congress leaders had to say about Budget 2024

<keyword id="19896016" type="General" weightage="20" keywordseo="New-Delhi" source="keywords">New Delhi</keyword>: The 54th Meeting of the <keyword id="21275205" type="General" weightage="20" keywordseo="Goods-and-Services-Tax-Council" source="keywords" meta.keywordsubtype="org" meta.entityname="Goods and Services Tax Council" meta.hostid="261" meta.entityid="Goods and Services Tax Council">Goods and Services Tax Council</keyword> or GST Council, will be held on 9th September 2024 in New Delhi, the GST Council said in a post on social media platform "X" on Tuesday. On June 22, <keyword id="19956758" type="General" weightage="20" keywordseo="Finance-Minister" source="keywords">Finance Minister</keyword> Nirmala Sitharaman said that the next meeting of the GST Council will take place in mid to late August. The aim of this meeting will be to discuss the pending issues of the last meeting. The council is expected to discuss rate rationalisation and compliance, among others. The GST Council, consisting of the Union Finance Minister and representatives from all States and Union Territories, was established to make decisions on various aspects of GST, including <keyword id="20452955" type="General" weightage="20" keywordseo="tax-rates" source="keywords">tax rates</keyword>, exemptions, and administrative procedures. It played a crucial role in shaping the GST framework in India. The last meeting of the GST Council was held on 22 June 2024 this year. During the meeting, the council recommended relaxation to taxation, Input Tax Credit (ITC) claims and demand notices. The GST Council proposes exemptions for specific services offered by Indian Railways to the general public, as well as for intra-railway transactions. During the 53rd meeting of the council, it proposed an exemption for specific services offered by Indian Railways to the general public, as well as for intra-railway transactions. The sale of platform tickets and services such as retiring rooms, waiting rooms, cloakroom facilities, and battery-operated car services are now exempt from GST. The 53rd council meeting was marked by several key decisions aimed at easing the compliance burden and providing relief to taxpayers. "Today's <keyword id="20115983" type="General" weightage="100" keywordseo="GST-Council-meeting" source="keywords">GST Council meeting</keyword> has taken a lot of decisions on trade facilitation, easing compliance burden and relief to taxpayers in terms of compliance easing out," the Finance Minister had said. The GST Council recommended waiving interest penalties on demand notices issued under Section 73 of the GST Act for fiscal years 2017-18, 2018-19, and 2019-20. The Council, in its June 22 meeting, approved an extension for availing input tax credit (ITC) on any invoice or debit note. To curb government litigation, the Council has recommended setting monetary thresholds for filing appeals by departments: Rs 20 lakh for the GST appellate tribunal, Rs 1 crore for high courts, and Rs 2 crore for the Supreme Court. In a move to assist small taxpayers, the Council, in its last meeting, extended the deadline for furnishing returns from April 30 to June 30 for the fiscal year 2024-25 and subsequent years. The Council, in its last meeting, recommended the phased rollout of biometric-based Aadhaar authentication for GST registration applicants across India. The Council recommended a uniform GST rate of 12 per cent on all milk cans, regardless of their material (steel, iron, or aluminium), to eliminate disputes. The Finance Minister, during the last GST meeting, reiterated the central government's intent to bring petrol and diesel under the Goods and Services Tax (GST) framework. She highlighted that the groundwork for this inclusion was laid during the initial implementation of GST and emphasized that the decision now lies with the state governments. The central government has long maintained that incorporating petrol and diesel into GST would streamline tax rates and potentially reduce prices for consumers.

54th GST Council meeting to take place on September 9 in New Delhi

<keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword> has been at the forefront of the digital payments revolution in India, furthering the government’s <keyword id="2674514" type="General" weightage="20" keywordseo="digital-india-vision" source="Orion">Digital India vision</keyword>. And the widespread use of Paytm in India shows that many are embracing the convenience and ease of digital payments, even at important cultural events. This has resulted in some unique use cases for Paytm’s pioneered QR-based payment solution, some of which have gone viral recently. Many families are now turning to Paytm to send and receive money as shagun or gift money at weddings, eliminating the need to carry cash and also providing a sense of security to both the sender and receiver. It is evident that Paytm is playing a key role in redefining the way transactions are conducted in India. Last week, <keyword id="117026" type="General" weightage="20" keywordseo="union-railway-minister" source="Orion">Union Railway Minister</keyword> <keyword id="7796574" type="General" weightage="20" keywordseo="ashwini-vaishnaw" source="Orion">Ashwini Vaishnaw</keyword> shared a video on Twitter that shows a guest at a wedding ceremony using Paytm to make a payment to a person playing the dhol. <div type="twitter" handle="AshwiniVaishnaw" handlename="Ashwini Vaishnaw" image="http://pbs.twimg.com/profile_images/1566298964458340352/4xOExtYX_normal.jpg" favoritecount="14491" retweetcount="1943" status="शादी में डिजिटल शगुन👍Digital India का विस्तार। 👏👏 https://t.co/KFeIn5XUY8" createdat="1670062715000" id="1598985038959300611"></div> It has gone viral, garnering over 14,000 likes and 3.4 lakh views. In the video, a guest can be seen swirling his phone around the groom's head in a customary manner before proceeding to scan the Paytm QR code and offering money to the drummer. “शादी में डिजिटल शगुन, Digital India का विस्तार", tweeted the union minister along with the video. The caption translates to, “Digital Shagun in marriage, expansion of Digital India.” The video has been widely shared and praised for showcasing the seamless integration of technology and tradition in modern India. In another example of such integration, a video shared by a Twitter user shows how devotees can use Paytm to offer digital donations at temples. <div type="twitter" handle="atriverma" handlename="atri verma" image="http://pbs.twimg.com/profile_images/1586918666427592704/du1FLgy-_normal.jpg" favoritecount="6" retweetcount="1" status="Itna #digital to Modi ji ne bhi nhi socha hoga 😂@vijayshekhar @Paytm https://t.co/nOSM7V8BFd" createdat="1669535730000" id="1596774704202715136"></div> The man in the video scans a Paytm QR to make an instant payment of 1 rupee after his prayer. Recently, another picture shared by an Instagram user shows a flower seller accepting payments with Paytm’s all-in-one QR. <div type="javascript" title="Instagram" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> The user captioned the image, “The story of India's digital payment revolution is incredible! hats off to whoever initiated the project and the team which executed this massive project!!!” What’s more special? Paytm added a unique and personal touch to the payment process. The QR code sticker used by the flower seller came with the Gayatri Mantra printed on it, providing personalization to the small business owner. Such viral videos and images are a testament to Paytm's efforts to make cashless transactions mainstream and accessible to everyone. It serves as a reminder of the convenience and ease of using Paytm for making payments and how the app is becoming an integral part of our daily lives. These are just a few examples of Paytm enabling digital payments as part of its mission to bring half a billion Indians to the mainstream economy. So, the next time you are at a wedding or at a temple, make sure to keep your Paytm app handy. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on <a href="mailto:insiderstudios@businessinsider.in">insiderstudios@businessinsider.in</a>

From digital shagun at a wedding to digital donation — unique use cases for Paytm go viral on social media

The monetisation of railways' assets is likely to be one of the key agenda items in the forthcoming <keyword id="6360189" type="General" weightage="100" keywordseo="union-budget" source="Orion">Union Budget</keyword> for 2023-24, which Finance Minister <keyword id="129243" type="General" weightage="80" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> is going to present on February 1. In 2021-22, the <keyword id="54441" type="General" weightage="80" keywordseo="railway-ministry" source="Orion">Railway Ministry</keyword> had set a target of monetising railways assets worth Rs 17,000 crore, however due to poor response from the private sector, the target could not be achieved. Even this fiscal's target of railways' asset monetisation of Rs 57,000 crore is likely to be halved as the department has not been able to meet it till now, sources aware of developments, said. It is likely to be brought down to around Rs 25,000 crore as the Railway Ministry has not been able to monetise its assets during the current fiscal and only three months are left for 2022-23 to end, the sources added. Despite lack of enthusiasm shown by investors in railways' assets, the government is bullish on pushing them and in the forthcoming Union Budget, it is likely to set a target, albeit a reasonable one, for monetisation of railways assets, the sources said. Under asset monetisation, the government transfers revenue rights to private parties for a specified transaction period in return for a revenue share and commitment of investments in the assets. The assets are monetised through models like Public Private Partnership (PPP) - Operate Maintain Transfer (OMT), <keyword id="6288212" type="General" weightage="80" keywordseo="toll-operate-transfer" source="Orion">Toll Operate Transfer</keyword> (TOT), and <keyword id="6363823" type="General" weightage="80" keywordseo="operations" source="Orion">Operations</keyword>, Maintenance and Development (OMD). Under monetisation, the government does not sell assets, but leases them for a certain period for redevelopment and operations by a private entity, while continuing to retain their ownership. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/fintechs-raised-5-65-bn-in-2022-a-47-drop-from-2021-tracxn/articleshow/97123507.cms">Fintechs raised $5.65 bn in 2022, a 47% drop from 2021: Tracxn</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-enterprises-fpo-20000-crore-green-hydrogen-ambitions-and-debt-repayment/articleshow/97123733.cms">Adani Enterprises’ ₹20,000 crore FPO opens on January 27, will fuel its green hydrogen ambitions, repay debt</a>

Government bullish on railway assets monetisation in Union Budget

New Delhi, Mobile phone exports from <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> will grow more than five-fold to USD 50-60 billion in the coming time from about USD 11 billion last year, <keyword id="20860007" type="General" weightage="20" keywordseo="union-it-and-communications" source="keywords">Union IT and Communications</keyword> Minister <keyword id="19904138" type="General" weightage="20" keywordseo="ashwini-vaishnaw" source="keywords">Ashwini Vaishnaw</keyword> said. Speaking at a fintech event on Wednesday, the minister said employment in the electronics manufacturing sector will increase from about 10 lakh at present to 25 lakh in the coming days. He said that 10 years ago India imported 98 per cent of mobile phones and at present 99 per cent of the devices are made in India. "(Mobile phones worth) USD 11 billion were exported last year. In the coming days, you will see exports to the tune of USD 50-60 billion. 10 lakh people work in electronics manufacturing. In the coming days, 25 lakh people will work in electronics manufacturing," <keyword id="19935038" type="General" weightage="20" keywordseo="vaishnaw" source="keywords">Vaishnaw</keyword> said while sharing a presentation on India's growth story. He said India will become the third largest economy by 2027 while it was ranked 11th in 2014. A report published by Jefferies Equity Research last month said that India would become the third-largest economy by 2027 and expected to achieve a market capitalization of USD 10 trillion by 2030. He said that when the country is in 5th spot in terms of economy it has created huge infrastructure in terms of railways, highways, airports etc. The minister said that the government added 5,200 kilometres of railway line last year, which is equivalent to the size of the entire Switzerland railway network.. "Already 4,972 kilometres have been completed. The entire month of March is left. We will add 5500 kilometres (railway lines) this year," Vaishnaw said. He said airports in the country have doubled in the last 10 years. "In 2013, every global discourse was negative about India. Everyone used to say it is a fragile economy. There was uncertainty around it. Today, when you see India anywhere, everyone says it is among the top 5, a bright spot, growing at a steady pace. India has become the growth engine of the entire world," the minister said. Vaishnaw also displayed a video of Congress leader P Chidambaram in which he had questioned the government's digital payments plan. The minister said earlier regimes were riddled with scams but after 2014 things changed across all parameters -- GDP growth, forex reserve, foreign investment etc. "We have increased IITs 10 times, AIIMS have been doubled, and universities have increased three times. Imagine economic muscle power when we will be the third largest. Our own supercomputing chip, our own semiconductor fab, AI models," Vaishnaw said. He said the regime under Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword> focussed on women-led growth and people on the last rung of the society that has brought 25 crore people out of poverty. "There is no state in India with extreme poverty," Vaishnaw said. The minister said that India's medal tally in international sports has also increased significantly because of transparency and facilitating world-class training for athletes with honesty.

Mobile exports to grow to $50-60 bn, electronics manufacturers to employ 25 lakh people: Vaishnaw

<ul><li>The government had announced ₹1.10 lakh crore for the railways in the last budget.</li><li>Further, it is expected that the government would allocate ₹1.3 lakh crore for railways under the national infrastructure pipeline.</li><li>The expectations of strong funds coming into the railway sector have led to huge buying in shares of some railway companies in the last one month.</li></ul>In last year’s union budget, India’s <keyword id="6355261" type="General" weightage="20" keywordseo="finance-minister" source="Orion">Finance Minister</keyword> <keyword id="129243" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> had announced ₹1.10 lakh crore for railways for FY 2021-22. As of November 2021, 61% of the budgeted amount had been spent. Railway is among the core infrastructure assets for the country and all eyes are on the budget allocation towards it. Further, it is expected that the government would allocate ₹1.3 lakh crore for railways under the national infrastructure pipeline from expected capital expenditure of ₹7 lakh crore for FY23. <div type="image" title="railway budget" height="900" width="1200" msid="89256671" hostid="261"></div><a href="https://www.livemint.com/budget/expectations/railways-likely-to-get-a-booster-shot-in-union-budget-11642530605223.html">Reportedly</a>, the government is planning to raise the fund allocation to ₹2.5 lakh crore for railways. Since the government has reportedly suffered a loss of ₹26,338 crore last year due to COVID-19, thus it may increase train fares as well. In fact, shares of the many railway companies have already rallied significantly in the last few weeks with one expectation of a strong <keyword id="12026484" type="General" weightage="20" keywordseo="railway-budget" source="Orion">railway budget</keyword>. Railway sector includes the government’s ambitious projects like high-speed rail including bullet trains and analysts expect special allocation to these segments in the upcoming budget. “The government should provide some dedicated allocations towards these projects (bullet trains, sagar mala, smart cities, inland waterways developments) in the budget,” said analysts at KR Choksey. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/india-budget-2022-smartphone-industry-expectations-from-budget/articleshow/89251477.cms">India Budget 2022 expectations: Fewer or no increase in component duties for smartphones</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/economic-survey-2022-highlights-that-delhi-not-bengaluru-is-the-startup-capital-of-india/articleshow/89249128.cms">Delhi, not Bengaluru, is the startup capital of India, says Economic Survey</a>

The government is expected to announce ₹1.3 lakh crore for railways under the national infrastructure pipeline

New Delhi, Prime Minister <keyword id="19962578" type="General" weightage="20" keywordseo="shri-narendra-modi" source="keywords">Shri Narendra Modi</keyword> will lay the foundation stone, inaugurate and dedicate to the nation around 2,000 railway infrastructure projects worth more than Rs 41,000 crore on Monday. The event will be held at 12:30 p.m. via video conferencing. In a post on X, <keyword id="19899320" type="General" weightage="20" keywordseo="pm-modi" source="keywords">PM Modi</keyword> said, "Today is a historic day for our Railways! At 12:30 PM, 2000 railway infrastructure projects worth over Rs. 41,000 crores will be dedicated to the nation. "In order to enhance the travel experience, 553 stations will be redeveloped under the <keyword id="20270535" type="General" weightage="20" keywordseo="amrit-bharat-station-scheme" source="keywords">Amrit Bharat Station Scheme</keyword>. The foundation stones for these stations would be laid. Overbridges and underpasses across India will also be inaugurated. "These works will further 'Ease of Living' for the people." In a major step to provide world class amenities at railway stations, the Prime Minister will lay the foundation stone for redevelopment of 553 railway stations under the Amrit Bharat Station Scheme. These stations, spread across 27 states and Union Territories, will be redeveloped at a cost of over Rs 19,000 crore. These stations will act as 'City Centres' integrating both sides of the city. They will have modern passenger amenities like roof plaza, beautiful landscaping, inter modal connectivity, improved modern facade, kids play area, kiosks, food courts, etc. They will be redeveloped as environment friendly and also <keyword id="20109552" type="General" weightage="20" keywordseo="divyang" source="keywords">Divyang</keyword> friendly. The design of these station buildings will be inspired by local culture, heritage and architecture. Further, the Prime Minister will inaugurate <keyword id="20727159" type="General" weightage="20" keywordseo="gomti-nagar" source="keywords">Gomti Nagar</keyword> station in Uttar Pradesh which has been redeveloped at a total cost of around Rs 385 crore. To cater to the increased future passenger footfall, this station has segregated arrival and departure facilities. It integrates both sides of the city. This centrally air-conditioned station has modern passenger amenities like Air Concourse, congestion free circulation, food courts and ample parking space in upper and lower basement. The Prime Minister will also lay the foundation stone, inaugurate and dedicate to the nation 1500 Road Over Bridges and Underpasses. These Road Over Bridges and Underpasses spread across 24 states and Union Territories, the total cost of these projects is around Rs 21,520 crore. These projects will reduce congestion, enhance safety and connectivity, improve capacity, and efficiency of rail travel.

PM Modi to launch 2,000 railway infra projects worth over ₹41,000 cr

<ul><li>Stocks related to rail sector like Titagarh wagons, Texmac, Rail Vikas Nigam have been rallying in the last one month on expectation of significant hike in budget for railways.</li><li>In the last year’s budget, finance minister Nirmala Sitharaman had announced ₹1.10 lakh crore for railways.</li><li>As of November 2021, 61% of the budgeted amount had been spent.</li></ul>The government’s efforts towards infrastructure development is expected to continue aggressively in this <keyword id="6360189" type="General" weightage="20" keywordseo="union-budget" source="Orion">Union Budget</keyword> as well. Railway is among the core infrastructure assets for the country and all eyes are on the budget allocation towards it. In the last year’s budget, India’s Finance Minister Nirmala Sitharaman had announced ₹1.10 lakh crore for railways for FY 2021-22. As of November 2021, 61% of the budgeted amount had been spent. Further, it is expected that the government would allocate ₹1.3 lakh crore for railways under the national infrastructure pipeline from expected capital expenditure of ₹7 lakh crore for FY23. <a href="https://www.livemint.com/budget/expectations/railways-likely-to-get-a-booster-shot-in-union-budget-11642530605223.html">Reportedly</a>, the government is planning to raise the fund allocation to ₹2.5 lakh crore for railways. Since the government has reportedly suffered a loss of ₹26,338 crore last year due to COVID-19, thus it may increase train fares as well. The expectations of strong funds coming into the railway sector have led to huge buying in shares of some railway companies. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Railway companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Last one month’s stock price change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Texmaco Rail &amp; Engineering </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+36% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titagarh Wagons </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+29% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rail Vikas Nigam </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RITES </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+4% </td></tr></tbody></table>Railway sector includes the government’s ambitious projects like high-speed rail including bullet trains and analysts expect special allocation to these segments in the upcoming budget. “The government should provide some dedicated allocations towards these projects (bullet trains, sagar mala, smart cities, inland waterways developments) in the budget,” said analysts at KR Choksey. Analysts believe Indian railways require an estimated ₹50 trillion between 2018-2030 to strengthen its infrastructure, electrification and signaling process. “We expect capital expenditure allocation for railways to be increased substantially,” said analysts at KR Choksey. In the FY22 budget, the government had increased the <keyword id="12026484" type="General" weightage="20" keywordseo="railway-budget" source="Orion">railway budget</keyword> by 52%. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Railway budget in last few years </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amount </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1.10 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹72,220 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹69,972 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹55,140 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY18 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹45,230 crore </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/the-indian-government-has-spent-less-than-half-the-money-it-had-budgeted-for-capital-investments-so-far/articleshow/88852518.cms">The Indian government has spent less than half the money it had budgeted for capital investments, so far</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/looking-to-buy-new-age-tech-stocks-like-zomato-heres-what-experts-are-suggesting/articleshow/89165999.cms">Tempted to buy new age tech stocks — Zomato, Paytm, Nykaa? Here’s what experts are suggesting</a>

You Searched For "union railway minister" and got 9 results

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