"Over Rs Rs 1.48 trillion to be allocated for railways in next fiscal," Jaitley said.
He proposed a target of doubling 18,000 km of lines and said gauge conversion is underway to eliminate capacity constraints.
The minister said 36,000 km of rail track renewal has been targeted in the coming year while 4,267 unmanned railway crossings on broad gauge routes are to be eliminated in the next two years.
New world-class train sets are being manufactured, dedicated freight corridors are coming up and electrification being taken up as a priority task for which Indian Railways is expected to explore other avenues to raise funds, the finance minister said.
Wifi and CCTVs will be progressively provided in all trains and there will be escalators at stations with 25,000- plus footfall.
The minister also pointed out that 600 stations have been earmarked for modernisation by the railways. The focus will also be on a suburban rail network in Mumbai and Bangalore.
Laying out a roadmap for the Indian Railways, Jaitley said the focus would be on modernisation of signalling, use of fog safety devices, better passenger amenities and safety in the coming year.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.