In a landmark announcement, Union Railways Minister Ashwini Vaishnaw has revealed the Indian Railways' strategic plan to invest a staggering Rs 1 lakh crore in acquiring new trains over the coming years. The move aims to address the escalating demand for passenger travel and serves as a pivotal step in the broader initiative to modernize and enhance the efficiency of the Indian Railways.
A Billion-Dollar Investment for a Growing Nation
Minister Vaishnaw underscored the primary objective of replacing aging rolling stock by introducing 7,000-8,000 new train sets. To facilitate this colossal procurement, tenders amounting to approximately Rs 1 lakh crore will be floated within the next 4-5 years. This ambitious endeavor is set to unfold over the next 15 years, signifying a substantial leap in the nation's rail infrastructure.
Eliminating Wait-Listing Woes
Addressing a persistent concern among passengers, the Railways Minister expressed the vision of achieving zero wait-listing on Indian Railways. Currently operating 10,754 daily train trips, the Railways plans to add 3,000 more trips to eradicate waiting lists, projecting an annual transportation capacity increase from 700 crore passengers to 1,000 crore by 2030. Minister Vaishnaw emphasized the necessity of a 30% increase in trip frequency to eliminate wait-listing, except during peak demand months, by the end of the decade.
Procurement Orders and Indigenous Manufacturing
The impending train procurement orders are not just about expanding the fleet; they encompass maintenance contracts and a mandate for indigenous manufacturing, leveraging existing railway infrastructure. Minister Vaishnaw emphasized the Railways' commitment to boosting the 'Make in India' initiative while ensuring the longevity and sustainability of the new trains.
Tracks to Prosperity
Highlighting the progress in track laying, Vaishnaw reported an anticipated completion of 5,500 to 6,000 kilometers of new tracks by the fiscal year-end, averaging an impressive 16 kilometers per day. This surpasses the track laying achievements of the previous fiscal year, demonstrating a commitment to enhancing rail connectivity. The completion of major freight corridors is set to unlock tracks, fostering faster movement of passengers and goods, and catalyzing the establishment of new industrial hubs and Gati Shakti Cargo Terminals.
Future Investments and Structural Reforms
Minister Vaishnaw outlined a substantial requirement of nearly Rs 12 lakh crore investment in the Indian Railways by 2030 to align with current economic growth levels. To expedite capital spending, the Railways has undergone significant structural and procedural reforms. A noteworthy 70% utilization of the Rs 2.4 lakh crore capital budget for FY24 has already been achieved, emphasizing the effective allocation of resources for comprehensive modernization encompassing trains, tracks, safety technology, and stations.
Conclusion
The Indian Railways' bold initiative to procure new trains stands as a testament to the commitment to transform and modernize the nation's rail infrastructure. Minister Vaishnaw's vision encompasses not only meeting the current demand for passenger travel but also future-proofing the Railways to accommodate the anticipated growth. As tracks are laid, trains roll in, and passengers benefit, the Rs 1 lakh crore investment signifies a monumental leap towards a more efficient and robust Indian Railways.
