Railway Budget 2023 Highlights Updates: FM Announces fund allotment of Rs 2.4 lakh crore for Railways in Budget 2023-24

Rail Budget Highlight 2023: Finance Minister Nirmala Sitharaman announced to allot 2.4 lakh crore for railways under Union Budget 2023.

Rail Budget 2023 LIVE Updates: Finance Minister Nirmala Sitharaman tabled the Railway budget of 2023-24 on Wednesday (February 1) along with the General Budget. Disappointing the commoners as no new trains like Vande Bharat have been announced in the budget.

The budget has alloted 2.4 lakh crore for the development of railway tracks, and completion of incomplete projects. “Capital outlay of Rs 2.40 lakh crore has been provided for Railways; This highest ever outlay is about nine times the outlay made in FY 2013-14,” Sitharaman said in her speech in Parliament. This is the highest-ever allocation of funds to the railways. 

Meanwhile, ahead of the Budget presentation Prime Minister Narendra Modi on Tuesday exuded confidence that amid global economic turmoil, India's budget will attempt to meet the hopes and aspirations of common citizens and be a ray of hope for the world.

Railway budget was earlier presented separately to the General budget in the Parliament. But this convention was disused in 2017 after the suggestion from then railway minister Suresh Prabhu. Since then, the railway budget has been presented with the general budget.

Budget 2023 LIVE Streaming on Zee News:

Here are all updates and annoucements of Railway Budget 2023. 

01 February 2023

18:04 IST

Railway Budget Update: Automobile Sector Welcomes Budget, Hopes to Utilise Funds in Most Effective Manner

We welcome the budget’s focus on clean energy and are particularly pleased to see the additional funding for electric vehicle infrastructure. This will help to make electric cars more accessible and affordable for the car rental industry, helping us to take a leading role in reducing emissions and promoting sustainable transportation. We look forward to working with the government to ensure these investments are utilized in the most effective manner for our sector.

Mr Greg Moran, CEO and Co-founder of Zoomcar

11:58 IST

Rail Budget 2023 LIVE Updates: Railway-Related Companies' Stocks up After Budget 

Shares of railway-related companies, including Rail Vikas Nigam Ltd and IRCON International, witnessed an up-trend on Wednesday, ahead of the Union Budget presentation in Parliament.

11:52 IST

Rail Budget 2023 LIVE Updates: Rs 75,000 Crore Investment in Transport Eco Projects

Nirmala Sitharaman says that Rs 75000 crore will be invested for the development of transport eco projects. 

11:13 IST

Rail Budget 2023 LIVE Updates: Sitharaman announces fund allotments for Railways in Union Budget 2023

2.4 lakh crore has been allocated to railway ministry in Union Budget 2023. Sitharaman also announces that 50 new helipads, airports and airdrones will be constructed across India. 

11:04 IST

Rail Budget 2023 LIVE Updates: The number of EPFO doubles in 2022

During the budget speech, Nirmala Sitharaman says EPFO subscribers double in 2022 from previous year.

10:28 IST

Rail Budget 2023 LIVE Updates: FM Nirmala Sitharaman Begins Presenting Budget

Finanace Minister Nirmala Sitharaman has started presenting the union budget 2023-24 in the Parliament which is the last full-budget of Modi 2.0 government. 

10:12 IST

Rail Budget 2023 LIVE Updates: PM Narendra Modi Reaches Parliament

Union Cabinet meeting chaired by PM Modi begins at Parliament

After the Cabinet approves the Budget 2023, it will be presented in Parliament by FM Sitharaman https://t.co/81tpIKyuVM

— ANI (@ANI) February 1, 2023

10:09 IST

Rail Budget 2023 LIVE Updates: Likely More Funds for National Rail Plan 2030

The Ministry of Railway will likely get more funds to its initiative of National rail plan for India. The plan aims to create a future-ready railway station by 2030.

09:30 IST

Rail Budget 2023 LIVE Updates: Finance Minister arrives at Rashtrapadi Bhavan

FM Nirmala Sitharaman has reached the Rashtrapati Bhavan to call Droupadi Murmu. Hereafter, she will go to the Parliament to present the union budget 2023-24.