Government allocates Rs. 1.48 lakh crores for Railways

Finance Minister, Arun Jaitley announced a Capex of Rs. 1.48 lakh crores for FY19. Bangalore Metro, Mumbai locals and unmanned rail crossing get government attention.

The government has allocated Rs. 17,000 crores for Bangalore metro projects and plans to add 90 kms of tracks to Mumbai’s local train network with an outlay of Rs. 11,000 crore.

Also, 4,267 unmanned rail crossings at broad gauge network will be eliminate in the next two years. All railway stations having a footfall of more than 25,000 will now have elevators. Also, all the trains will soon have state-of-the-art facilities such as WiFi and CCTVs.

 Stock in focus: Titagarh Wagons slipped by 5 per cent to an intra-day low of Rs. 146.65. Also, Texmaco Rail and Engineering slipped by 2 per cent to an intra-day low of Rs. 100.60.