(T.E.T)
The Economic Survey 2021-22 has asserted that the Indian railway sector in the next 10 years will see a very high level of capital expenditure leading to it eventually becoming the engine of national growth. he survey says that a higher capex will be needed as capacity growth has to be accelerated such that by 2030 it is ahead of the demand. Capex in this sector up to 2014 was at around Rs 45,980 crore per annum which plagued it with high levels of inefficiency and congested routes which led to inability in meeting the growing demand, the survey says. The capex outlay in the ongoing financial year is at Rs 2.15 lakh crore, which is five times the 2014 level. As more projects are taken on hand and several sources of capital funding are developed, the capex will increase further in coming years and the railway system will actually emerge as an engine of national growth,” the survey says.
The survey also talks about the National Rail Plan which lays down the road map for capacity expansion of the railway network by 2030 to cater to growth up to 2050. “It envisages the creation of a future-ready railway system that is able to not only meet the passenger demand but also increase the modal share of railways in freight to 40-45% from the present level of 26-27%,” the survey reads.
