Budget 2023: Nirmala Sitharaman Announces ₹ 2.4 Lakh Crore For Railways

New Delhi: The Finance Minister announced that a capital outlay of Rs 2.40 lakh crore has been provided for the Railways, which is the highest ever outlay and about 9 times the outlay made in 2013-14.

She also informed that one hundred critical transport infrastructure projects, for last and first-mile connectivity for ports, coal, steel, fertilizer, and food grains sectors have been identified and they will be taken up on priority with the investment of Rs 75,000 crore, including  Rs 15,000 crore from private sources.

Sitharaman said that fifty additional airports, heliports, water aerodromes and advanced landing grounds will be revived for improving regional air connectivity.

The Finance Minister announced that an Urban Infrastructure Development Fund (UIDF) will be established through the use of priority sector lending shortfall, which will be managed by the National Housing Bank, and will be used by public agencies to create urban infrastructure in Tier 2 and Tier 3 cities.

She said that States will be encouraged to leverage resources from the grants of the 15th Finance Commission, as well as existing schemes, to adopt appropriate user charges while accessing the UIDF.

Sitharaman said that Government will make available Rs 10,000 crore per annum for this purpose.