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Government has proposed a borrowing target of Rs 55,471 crore for Indian Railway Finance Corporation (IRFC), its borrowing arm for the fiscal 2019-20. This, while it has lowered the borrowing target for IRFC for present fiscal, to Rs 52,297 crore from Rs 54,940 crore.
Railway Minister Piyush Goyal, who also presented the Interim Budget, announced that he proposed a capital support of Rs 64,587 crore in 2019-20. This reflects almost 22 per cent increase over the budgetary support for present fiscal (2018-19).
Goyal announced, “The Railways’ overall capital expenditure programme is of Rs 1,58,658 crore. The Operating Ratio is expected to improve from 98.4 per cent in 2017-18 to 96.2 per cent in 2018-19 (RE) and further to 95 per cent in 2019-20 (BE).”
“Indian Railways has experienced the safest year in its history. All Unmanned Level Crossings on broad gauge network have been eliminated. Introduction of the first indigenously developed and manufactured semi high-speed "Vande Bharat Express" will give the Indian passengers world class experience with speed, service and safety. This major leap in wholly developed technology by our engineers will give an impetus to the Make in India programme and create jobs,” he added.
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