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Railway Budget 2024: All you need to know about the budget
Railway Budget 2024: Here are top things you need to know about the Railway Budget 2024
Updated on: Feb 1, 2024, 07:45:26 IST
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As Finance Minister Nirmala Sitharaman is set to announce the interim Budget on February 1, India also awaits the railway budget. The government, in 2016, decided to merge the Railway Budget with the Union Budget when late Arun Jaitley, the then Finance Minister, presented the first combined Budget for the financial year 2017-18. ::
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- Prior to 2017, the Railway Budget used to be presented separately a few days ahead of the Union Budget.
- This practice came to an end when Finance Minister Arun Jaitley delivered the Union Budget for FY 2017-18. This practice has been followed by the subsequent governments.
- Indian Railways spent a record capital expenditure (Capex) from April 1, 2023 to December 31, 2023- marking the highest-ever Capex utilization in nine months, according to a statement by the Ministry of Railways.
- The data showed that 75% of the allocated Capex budget has been used by Indian Railways in the first nine months of the fiscal year.
- The total expenditure incurred by Indian Railways during this period amounts to ₹1,95,929.97 crores, which represents approximately 75% of the overall Capex budget of ₹2.62 lakh crores.
- Finance Minister Nirmala Sitharaman mentioned in her Budget 2023 speech that this allocation is more than nine times the amount allocated in the financial year 2013-14.
