Railway Budget 2024

Railway Budget 2024: A Whistle Stop to Disappointment!

The Railway Budget 2024 promises a lot but delivers little, leaving investors and passengers on different tracks!

The Railway Budget 2024 has been unveiled, and while it's been labeled as a beacon of hope for an advanced railway sector, many are left scratching their heads. The Finance Minister, Nirmala Sitharaman, mentioned railways only once, and the allocation for the next fiscal year has remained flat. This led to a tumble in railway stocks; RVNL, IRFC, and others saw shares drop by 1-5%, a reaction that seems to reflect the disappointment of investors who were anticipating more significant sector-specific announcements in the budget.

In an era where infrastructure seems to be on everyone’s lips, the selfie-friendly infrastructure push sounded great in speech but looks less impressive for the railways. A staggering Rs 11.11 lakh crore has been tagged for capital expenditure across sectors for the coming five years, yet little of this appears to be earmarked specifically for the railways. Investors might have been expecting big reveals about dedicated freight corridors and improvements to ordinary transit, but these announcements were as good as invisible, leading to shares on indices like the BSE to fall by up to 8%.

Many ordinary passengers, who rely on local trains, felt ignored as the focus leaned heavily towards upgrading elite experiences, with mentions of bullet trains and world-class stations. As it stands, all the bells and whistles don’t translate into better services for the thousands who commute daily on traditional trains. Hopefully, the railways won’t continue on this path of neglect, as there’s a limit to how far fancy bullet trains can go without serving the common man!

Despite the disappointing announcements, the Indian Railway Budget for 2024 still includes the highest-ever allocation at Rs 2.55 lakh crore. Ironically, while the budget nominally appears to grow, the reality is a flat allocation that has many questioning its actual efficacy in improving the daily realities of millions of travelers. Rather than chasing headline-grabbing projects, it’s time for a little back-to-basics focus on improving the travel experience for everyone.

Interesting Fact #1: Did you know that the Indian Railways is the world’s fourth-largest railway network? This sprawling network carries about 25 million passengers every day, which makes the lack of focus on ordinary train services a big concern!

Interesting Fact #2: Although the budget has been flat for several years now, initiatives like the Vande Bharat train have made India’s railway system technically efficient, showcasing the potential of Indian engineering on a global stage! Let’s hope additional consideration will be given to strengthen the foundation that supports so many lives daily!