Railway Budget of Rs 2.78 Lakh Crore Paves Way for Vikas Bharat, Says Vaishnaw

In an interview with ANI, Vaishnaw said that seven new high-speed corridors have been announced today, which will significantly reduce travel time, bringing about a major change in lives of people.

Vaishnaw, who is also Union Minister for Information and Broadcasting and Electronics and Information Technology, said the Union Budget is dedicated to youth and women and is inspired by a sense of duty towards the country.

"Today's budget is dedicated to the youth of our country. It's dedicated to women's power in our country. And it is inspired by the sense of duty, duty towards our nation, making sure that 'sabka saath, sabka vikas,' the inclusive growth happens in our country. The budget also lays down the roadmap for Vikas Bharat. Today's railway budget of Rs 2,78,000 crore is clearly a step in that direction... Seven new high-speed corridors have been announced today. These high-speed corridors will significantly reduce travel time, bringing about a major change in people's lives," he said.

"Chennai, Bangalore, and Hyderabad--that southern triangle -- will drive significant economic growth across the southern states of Telangana, Andhra Pradesh, Tamil Nadu, Kerala, and Karnataka. This will be a major, major win for all five southern states," he added.

Vaishnaw said that about 4,000 kilometres of high-speed corridors will attract Rs 16 lakh crore in investment.

"Then, Mumbai, Pune, and Hyderabad will also become major economic corridors. In northern India, Delhi, Varanasi, and Siliguri will connect Delhi, UP, Bihar, and West Bengal in a major economic corridor, which will bring about a huge change in the way people travel. It will boost tourism and economic activity across UP, Bihar, West Bengal, and Delhi," he added.

In her budget speech, Finance Minister Nirmala Sitharaman proposed establishing new Dedicated Freight Corridors connecting Dankuni in the East to Surat in the West

"To promote environmentally sustainable movement of cargo, I propose to: a) Establish new Dedicated Freight Corridors connecting Dankuni in the East, to Surat in the West; b) operationalise 20 new National Waterways (NW) over next 5 years, starting with NW-5 in Odisha to connect mineral rich areas of Talcher and Angul and industrial centres like Kalinga Nagar to the Ports of Paradeep and Dhamra," she said.

She said in order to promote environmentally sustainable passenger systems, the government will develop seven High-Speed Rail corridors between cities as 'growth connectors', namely - Mumbai-Pune, Pune-Hyderabad, Hyderabad-Bengaluru, Hyderabad-Chennai, Chennai-Bengaluru, Delhi-Varanasi and Varanasi-Siliguri.

At a press conference, Vaishnaw said Chennai, Bengaluru, and Hyderabad will form a South High-Speed Triangle or South High-Speed Diamond, which will prove to be a great boon for all five South Indian states: Karnataka, Telangana, Andhra Pradesh, Tamil Nadu, Kerala, and the Union Territory of Puducherry.

"The Chennai-Bengaluru travel time will be reduced to just one hour and thirteen minutes. Bengaluru-Hyderabad will be just a two-hour journey. Chennai-Hyderabad will be a two-hour and fifty-five-minute journey. Chennai, Bengaluru, and Hyderabad are all major economies, very large cities, and major hubs of IT technology. Creating this high-speed diamond will bring a major growth multiplier to the South Indian states, which is good for the country and very good for all the residents of the South Indian states," he said.

- ANI