Budget 2024, New Railway Corridor: Finance Minister Nirmala Sitharaman has made a big announcement regarding Railways in her interim budget speech. The Finance Minister has announced three new economic railway corridors.
Budget 2024, New Railway Corridor: Finance Minister Nirmala Sitharaman has made a big announcement for Metro and Railways in her interim budget. The Finance Minister has said that three major economic railway corridors will be implemented. Apart from this, 40,000 general railway bogies will be converted to Vande Bharat standards. Metro rail will be expanded to other cities also. With this announcement, there was a rise in railway stocks. However, after the end of the budget speech, there has been a decline in railway stocks.
Budget 2024, New Railway Corridor: Announcement of three new economic railway corridors, big announcement on Vande Bharat
Finance Minister Nirmala Sitharaman in her interim budget speech said, ‘Three major economic railway corridors will be implemented, these are- 1) Energy, Mineral and Cement Corridor, 2) Port Connectivity Corridor, 3) High Traffic Density Corridor. Projects have been identified under PM Gatishakti to enable multimodal connectivity. 40,000 ordinary railway bogies will be converted to Vande Bharat standards for the safety, convenience and comfort of passengers.
Budget 2024, New Railway Corridor: Metro rail will be expanded to other cities
Finance Minister Nirmala Sitharaman said, ‘Metro rail will be expanded to other cities also.’ Railway stocks have registered a rise after the Finance Minister’s budget speech. IRFC shares are trading at Rs 175.65 with a rise of 0.29 percent. Rail Vikas Nigam is trading at the level of Rs 304.80 with a decline of 1.12 percent. RITES shares had reached a new high of Rs 766 during trading. However, after the budget speech, there was a 2.9-percent decline in stocks. Till the time of writing this news, this stock is trading at Rs 721.70.
