Railways used 59% of its capital expenditure in first six months of 2023-24: Vaishnaw

Business Standard

The Indian Railways has used 59 per cent of its whole capital expenditure within the first six months of the monetary 12 months 2023-24, Indian Railways Minister Ashwini Vaishnaw stated on Saturday.

He advised reporters that this was made potential because of the railways implementing 38 structural and procedural reforms in these six months, which helped enhance its total efficiency.

“Our whole price range for 2023-24 is Rs 2.4 lakh crore, of which we have now already spent Rs 1.4 lakh crore within the first half of the present monetary 12 months. This represents 59 per cent of the whole price range,” Vaishnau stated.

Concerning the structural reforms carried out by the railways, he stated that the complete undertaking implementation system and the financing and monitoring course of have been revamped to realize transparency and high quality management.

He added that the merchandise worth contract system has been modified to engineering, procurement and building (EPC) contracts, which is healthier and extra accountable.

“Earlier, detailed undertaking studies have been ready, which was extra like a formality. Now, we have now put in place a really detailed and practical reporting course of,” Vaishnau stated.

He stated the flaw within the earlier system was that the DPR course of was primarily based on a floor survey, and the actual area scenario was handled later through the area survey.

He stated that right now the railways have launched new know-how reminiscent of surveys utilizing drones and satellites to organize railway stations.

“It’s uploaded on the PM Gati Shakti portal. After that, we have a look at totally different battle areas like mines, colleges, highways, transport traces, canals, and so on and resolve all these conflicts within the DPR stage solely. After that, the ultimate estimate is prepared,” Vaishnau stated. “.

Modifications have been launched in undertaking administration to enhance high quality by involving corporations like TCS.

Within the final six months, in keeping with Vishnu, the railways have launched digital administration techniques to make sure that knowledge stays intact for a very long time.

“We now have computerized the complete undertaking completion course of from its inception to design approval, design approval, bidding course of, collection of contractors and award of completion certificates,” the minister stated.

He stated, “The (basic situations of contracts) within the Gulf Cooperation Council nations date again to 1952, and we have now amended and up to date them in keeping with right now’s wants.”

Vaishnaw stated that moreover structural reforms, procedural reforms have been carried out that accelerated the undertaking completion course of.

“I feel right now we have now improved our efficiency due to all these reforms,” ​​he stated.

(Solely the title and picture of this report could have been reworked by Enterprise Normal workers; the remainder of the content material is auto-generated from a syndicated feed.)

(Tags for translation)Indian Railways

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