400 new generation Vande Bharat trains, with better energy efficiency and passenger riding experience, will be manufactured in the next three years, announced Finance Minister Nirmala Sitharaman on Tuesday while presenting the Union Budget for the financial year 2022-23 in the Lok Sabha on Tuesday.
"400 new generation Vande Bharat trains with better efficiency to be brought in during the next 3 years; 100 PM Gati Shakti Cargo terminals to be developed during next 3 years and implementation of innovative ways for building metro systems," said Sitharaman today.
She further said that 2,000 km of the rail network will be brought under the indigenous world-class technology KAWACH, for safety and capacity augmentation.
Sitharaman went on to inform the Parliament that the Indian Railways will develop new products and efficient logistics services for small farmers, small and medium enterprises, adding that contracts for the implementation of Multimodal Logistics Parks at 4 locations to be awarded in 2022-23, in PPP Mode. One Station One Product shall be popularized to help local businesses and supply chains, stated Sitharaman.
This is the sixth combined budget since the Rail Budget was merged with the Union Budget in 2017.
The practice of presenting a separate railway and union budget began in 1924 under British rule.
The Budget Session of the Parliament commenced on January 31 with President Ram Nath Kovind's address.
The first part of the Union Budget Session of Parliament will be held from January 31 to February 11 and the second part of the Budget Session will take place from March 14 to April 8.
( With inputs from ANI )
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