Indian Railways sets record with highest-ever Capex utilization in 9 months of this fiscal year

New Delhi [India], January 29 (ANI): In a remarkable achievement, Indian Railways has reported its highest-ever capital expenditure (Capex) utilization, reaching an impressive 75 per cent during the initial nine months of the current fiscal year from April 1, 2023, to December 31, 2023.
As per the official data provided by the Ministry, the Railways has demonstrated its commitment to infrastructural development and passenger safety by investing a substantial sum of Rs. 1,95,929.97 Crores, which accounts for approximately 75 per cent of the total Capex budget of Rs. 2.62 lakh crores allocated for this financial year.
The statement further said that comparing the data with the corresponding period in the previous year, Indian Railways has outperformed itself, achieving a remarkable 33 per cent increase in Capex utilization. In December 2022, the Capex utilization stood at Rs. 1,46,248.73 Crores, highlighting the substantial boost in investment in various infrastructure projects.
These investments are dedicated to crucial projects such as the development of new rail lines, the doubling of existing lines, gauge conversion, and the enhancement of passenger amenities. A significant portion of the allocated funds has been directed towards initiatives aimed at improving passenger safety, reaffirming the Railways' commitment to providing a secure and efficient transportation system for the public.
As Indian Railways continues to set new benchmarks in Capex utilization, the nation anticipates continued progress and advancements in the railway infrastructure, contributing to the overall development of the transportation sector. (ANI)