To facilitate the introduction of new trains and improvements to the current railway infrastructure, the Ministry of Railways has requested a financial allocation from the Ministry of Finance that is 30% higher for FY24.

The railways have stated that they need an additional 30% funding for the upcoming fiscal year to introduce new Vande Bharat trains, build new rails and improve security.

An increase of 17% over last fiscal year's allocation, the ministry received gross budget support (GBS) in FY23 of Rs. 1.37 lakh crore for capital expenditures and Rs. 3,267 crore for revenue expenditure.

As of October 31, it had used up about 93% of the budgeted amount, spent 1.02 lakh crore from the capital budget and exceeded the allotted amount for revenue expenditure by 25,399 crore. The allocation will be finalized by the end of the month, according to a Treasury Department official, and railways should receive a "significant increase".

It will undoubtedly be a significant increase, but the ministry may not need to allocate that much money.

In addition to asset monetization revenues, the railroad maintained its expectations for its own internal revenue for FY24 at about the same level as this year.