Budget 2024: 3 Railway Corridors, New Airports & Port Infra, India’s Connectivity Gets Major Boost

Interim Budget 2024: The expansion of existing airports and development of new airports will continue expeditiously, Finance Minister Nirmala Sitharaman said on Thursday and emphasised that the country’s aviation sector has been galvanised in the past 10 years.

Also Read: Budget 2024 LIVE Updates

The interim budget contains several announcements and strategies indicating directions and development approaches for making India Viksit Bharat by 2047.

Railways

Presenting the interim Budget for 2024-25, for railways, Sitharaman announced three major economic corridor programmes will be implemented for energy, mineral and cement, along with port connectivity corridors, and high traffic density corridors.

Moreover, forty thousand normal rail bogies will be converted to the Vande Bharat standards to enhance the safety, convenience and comfort of passengers.

Aviation

“Expansion of existing airports and development of new airports will continue expeditiously,” the minister said.

Sitharaman said in the last 10 years, the number of airports has doubled to 149, adding that Indian carriers have pro-actively placed orders for over 1,000 new aircraft.

India is one of the fastest growing civil aviation markets in the world and domestic air passenger traffic is on the rise.

“Roll out of air connectivity to tier-two and tier-three cities under UDAN scheme has been widespread. Five hundred and seventeen new routes are carrying 1.3 crore passengers,” she said.

Ude Desh ka Aam Naagrik (UDAN) or the regional air connectivity scheme is mainly aimed at making flying more affordable.

Port Connectivity & Tourism

FM Sitharaman also said projects for port connectivity, tourism infrastructure and amenities will be taken up “on our islands, including Lakshadweep” to address the “emerging fervour” for domestic tourism in the country.

She also said “our economic strength has made the country an attractive destination for business and conference tourism”.

The mention of Lakshadweep by the finance minister is significant because Prime Minister Narendra Modi visited the island on January 4. He had tried snorkelling and said Lakshadweep has to be on the list of visits for those who wish to embrace the adventurer in them.

Sitharaman, in her budget speech, said the Indian middle class also now “aspires to travel and explore”. Tourism, including spiritual tourism, has tremendous opportunities for local entrepreneurship, she added.

“States will be encouraged to take up comprehensive development of iconic tourist centres, branding and marketing them at global scale. A framework for rating of the centres based on quality of facilities and services will be established,” the finance minister said.

Long-term interest-free loans will be provided to states for financing such development on a matching basis, she added.

“To address the emerging fervour for domestic tourism, projects for port connectivity, tourism infrastructure and amenities will be taken up on our islands, including Lakshadweep. This will help in generating employment also,” the Union minister said.