Railways Minister Ashwini Vaishnaw told ET. The objective is to replace aging rolling stock, necessitating 7,000-8,000 new train sets. Tenders for this procurement, amounting to around ₹1 lakh crore, will be issued over the next 4-5 years and fulfilled over 15 years, the minister said.
The Railways Minister also said that 70% of the Rs 2.4 lakh crore capital budget for FY24 has already been utilized, with track laying progressing according to the plan. The minister also said that significant progress has been made in the Eastern and Western Dedicated Freight Corridors, which will free up tracks for increased passenger and freight movement. Almost 80% of the Western Dedicated Freight Corridor has completed while the completion of the entire 1337 kilometre (km) Eastern Dedicated Freight Corridor is catalysing the development of new industrial hubs and Gati Shakti Cargo Terminals, the minister said.
During the current fiscal, Railways expects to add 5500 to 6000 kms of new tracks, which is 16 kilometres (km) per day. In 2022-23, it had added 5243 kilometres of tracks to it network.
He also said that the national transporter needs to invest of close to Rs 12 lakh crore to cater to the current level of economic growth by 2030.
Currently, Indian Railways run 10,754 daily train trips, carrying about 700 crore passengers annually. By 2030, the number is expected to rise to 1,000 crore passengers. The national transporter plans to add 3000 more train trips to bring down the waiting list to zero. «There needs to be a 30% increase in the number of trips to eliminate the issue of waitlisting in the passenger category — except during peak demand months — by the end of this decade,» the minister said.