New Delhi: The Narendra Modi government has approved eight new railway line projects recently, thus investing in the Infrastructure of India. The estimated cost for these projects will be around Rs 24,657 crore, scheduled for completion by the year 2030-31 to enhance connectivity all across the country.
The railway lines, all of which have been sanctioned, shall have a total length of 900 kilometers and shall cover 14 districts in seven states: Udasi, Maharashtra, Andhra Pradesh, Jharkhand, Telangana, and West Bengal. This expansion is proposed to add 64 new stations that shall connect 510 villages and cover a population of about 40 lakh. The government is trying to increase connectivity and directly benefit several communities.
Railway Minister Ashwini Vaishnaw mentioned the environmental advantages associated with these projects. According to him, they are expected to save 767 crore kilograms of carbon emissions, which is equivalent to planting 300 million trees. That is how concerned the government is toward sustainable development.
The development is expected to bring in railway stocks in focus. The share price of Rail Vikas Nigam Limited (RVNL), Titagarh Rail Systems, IRFC, Jupiter Wagons, and BEML Limited are likely to be in news on August 12, 2024. Companies engaged in the Railway sector are likely to benefit directly from this investment. Moreover, the concept of self-reliant India has already started benefiting these companies in terms of increased project opportunities, and their position in the stock market is also improving. Many railway stocks have already given substantial returns to investors in the past one year, indicating growing confidence in the sector, and RVNL happens to be one such stock.
These new railway projects thus act as a huge boost to India’s infrastructure and, in addition, bring along the promise of improved connectivity and a clean environment. Thus, on the completion of these projects, investors and other stakeholders who are a part of this railway industry may look forward with optimism; this actually reflects the ripple effects of the government’s initiatives on infrastructure in the economy at large.
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The Modi government has approved ₹24,657 crore for eight new railway projects, set to enhance connectivity and expand the railway network. RVNL, IRFC, Titagarh, Jupiter Wagons and BEML share price are expected to be in focus on August 12, 2024. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
