Finance Minister Arun Jaitley allocated Rs 2,025 crore for an overhaul of the signalling and telecommunication system of the Indian Railways in 2018-2019. Rs 11,450 crore has been earmarked for track renewal.
The total expenditure planned on safety, including Rashtriya Rail Sanraksha Kosh (RRSK), is Rs 68,725 crore in 2017-18 and Rs 73,065 crore in 2018-19.
The RRSK will have Rs 5,000 crore from Capital (Budgetary Support), Rs 10,000 crore from the Railway Safety Fund and Rs 5,000 crore from the Railways revenue.
"In my department, money is never a concern," he said, when asked about the budget for introducing high-end technology in the Railways.
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Goyal said he had a plan to introduce an effective and modern ETCS II system - a radio-based cab signalling equipment - on the railway network which would not only help address safety concerns but also aid in capacity management.
"While introduction of Wi-Fi, CCTV cameras, escalators are much-needed steps to allow the Railways to serve its customers better, upgradation of the infrastructure through induction of modern train sets, world-class signalling systems is very much the need of the hour," Bharat Salhotra, Vice President (Sales and Business, Development), ALSTOM, Asia Pacific, told PTI.
France-based Alstom is producing India's first 12,000 horsepower electric locomotive at its plant in Madhepura, Bihar, which is likely to be rolled out in March.