Nirmala Sitharaman, Union Finance Minister, is going to announce a railway union budget 2020 on 1 February. The centre may this time consider public-private- partnership programmes instead of infrastructural boost.
There are expectations that the union finance minister may announce the privatization of several railway stations, apart from announcing different routes.
A foreign investor could also be invested in the sector. Plus, it can be allowed investors to run real estate and commercial business, and the railway could decriminalize its assets.
With the brilliant success of Tejas-India’s first private train, the centre may also focus on privatizing other railway and train operations. Additionally, the modernization plan of the centre’s railway will boost steel production in the country.
In the speech of railway budget 2020, the finance minister highlighted that a free high-speed WiFi provided in several railway stations. Also, FM said that India’s first bullet train project between Mumbai and Ahmedabad is currently being tracked for completion on time. However, the Indian railway is seeking to add solar power plants with routes on railway land.
Along with Public-Private Partnership (PPP) model, the Finance minister has announced that the centre will launch a Kisan Rail. The trains freight will allow easy and convenient movement of perishable products of farmers.
Removed Level Crossings:
The finance minister announced that Indian railways achieved the goal of removing the level crossings on its networks. This goes a great way in improving safety on the Indian Railways network.
In 2016, the railway budget was combined with the Union Budget by the PM of India. The then, Arun Jaitley became the first to announce the Railway Budget as a member of the main budget speech. The combination of the two budgets has been seen as an essential reform to make accounting practices more accurate and easier.