Budget 2022 | IRFC to borrow Rs 66,500 crore in FY2022-23

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Indian Railway Finance Corporation, the market borrowing arm of Indian Railways, is budgeted to borrow Rs 66,500 crore in the financial year 2022-23. This is against a revised target to borrow Rs 70,200 crore in the present fiscal. This was told to Moneycontrol by a top railway official. Railways’ borrowings are used to buy rolling stock like locomotives, wagons, coaches; and fund projects.

400 new generation Vande Bharat trains with better efficiency to be brought in during the next 3 years

On Railways goals to go fully green by 2030, it has set a target to electrify 6,500 kilometres in 2022-23, according to the budget document.

Railways target to electrify 6500 km routes in fiscal 2022-23 

By proposing to electrify 6,500 km of routes in the financial year 2022-23, Indian Railways has moved a few steps closer to its target of completely electrifying its network. This is against a target of 6,000 km of electrification in the present fiscal, according to the budget documents.

The national transporter has a target to be fully electrified by the end of 2023. This is a part of Railways’ bold ambition towards meeting Net Zero goals by 2030. Indian Railways has set the target of becoming the world’s first 100 percent green railway system by 2030.

Simultaneously, the move is also helping Railways cut down on its fuel bill on account of diesel use, aided by use of fuel-efficient diesel engines. Also, the national transporter has made a start on increasing sourcing energy from renewable sources like solar and other alternative fuels.