Railway capex budget rules encourage finance ministry to expand model

National transporter is managing its expenditure better after Ministry brought in a new model

Indian railways cancelled 160  trains on Wednesday, August 31.

Subhomoy Bhattacharjee New Delhi
Encouraged by its success in getting the Railway Ministry to better manage capital investments, the Finance Ministry could extend a unique model developed this year to other ministries that will have large targets in the upcoming Budget.

For transparency and long-term planning in capital investments by the Railways, the Finance Ministry instituted a system of Memorandum of Meeting (MoM) in Financial Year 2023-24 (FY24). It was a new approach to bind the Railway Board, the top-decision making body of the national transporter, to plan how it would spend the Rs 2.4 trillion provided in Budget FY24 for capex. Of the approximately Rs 10 trillion the Budget provided for capex, the Railways got the largest share.

“The document (MoM) is a

Also Read

Indian Railways to add new 'anti-injury' feature to passenger coaches

Passengers can carry 2 sealed bottles of alcohol per person in Delhi metro

For speed and safety on the tracks, Indian Railways has problems to solve

First batch of Vande Bharat sleeper trains to be out by March next year

Railways fined 36 million ticketless passengers, earned Rs 2,200 crore

Record merchandise trade deficit in Oct likely to be a one-off: Analysts

'Chai pe Charcha': IPAC's long political journey in the past 10 years

Ongoing ethnic violence takes a heavy toll on economy of Manipur

AI and antitrust: Balancing innovation with competition

What does it take to decarbonise India's industrial base?

First Published: Nov 21 2023 | 5:30 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com