The Indian Railways has achieved highest ever capital expenditure at around Rs 1.32 lakh crore in 2018-19, a jump of Rs 30,000 crore from Rs 1.02 lakh crore achieved a year ago. The actual capex for 2018-19 will, however, be less than the revised target of Rs 1.38 lakh crore and the Budget estimate of Rs 1.46 lakh crore. The increase in capex will be a breather for the transporter which witnessed a fall from Rs 1.09 lakh crore in FY17 to Rs 1.02 lakh crore in FY18.
According to two railway sources, extra budgetary resources (EBR) from partnerships has been the drag in FY19 as targets under all other heads have been almost achieved. “Third-party investments in private freight terminals, wagons and state government projects did not come in. May be the targets were ambitious,” said a railway official. The target for funding under partnerships was Rs 27,000 crore.
Investments in rolling stock, which is part of EBR through IRFC, is expected to be around Rs 24,000 crore against a target of Rs 27,852 crore for FY19. The gross budgetary support (GBS) has been retained at the revised estimate of Rs 53,060 crore. However, Rs 5,000 crore from GBS for identified ten ‘nationally important’ projects have been moved to EBR and the freed amount has been deployed towards other projects.