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    Need one or two Indian pharma firms to be among global top 5: PM Modi
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August 15, 2026
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Global pharmaceutical leadership is urged through Indian firms achieving top-five status, supported by generic manufacturing and export capacity.
Indian pharmaceutical companies are urged to attain representation among the world's five leading pharmaceutical firms, despite India's established position as a major producer of generic medicines. India has a broad manufacturing base, supplies generic medicines across numerous therapeutic categories, and exports to worldwide markets including highly regulated jurisdictions. Although pharmaceutical exports and the domestic market have expanded, Indian firms have not yet secured positions among the largest global companies. Greater international scale may be supported through acquisitions and expanded established-brand and branded-generic operations.
August 15, 2026
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Foreign asset voluntary disclosure permits eligible small taxpayers to regularise qualifying assets through tax, additional levy, and statutory immunity.
FAST-DS permits eligible small taxpayers to voluntarily disclose specified foreign assets or foreign income. It covers undisclosed foreign assets or income not offered to tax, subject to an aggregate value threshold of Rs 1 crore, and certain foreign assets omitted from the relevant return schedule, subject to a Rs 5 crore threshold and prescribed fee. Payment comprises 30 per cent tax and an additional equal amount. Disclosed income or investment is excluded from total income, with immunity from further tax, penalty and prosecution under the Black Money Act for the disclosed asset or income.
August 15, 2026
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Free trade agreement opportunities require MSMEs to meet global standards and expand exports across textiles, machinery, medicines and seafood.
Free trade agreements are presented as export-market opportunities for Indian MSMEs because they reduce or eliminate import duties on a substantial range of traded goods. MSMEs are urged to expand exports of textiles, machinery, medicines and seafood, including shrimp, by meeting global quality standards and offering products competitively. Their export role is linked to self-reliance and their significant contribution to manufacturing, exports, GDP and employment.
August 15, 2026
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Windfall gains tax on petroleum exports was reduced to support domestic fuel availability and limit export price advantages.
Special additional excise duty (windfall gains tax) on exports of petrol, diesel and aviation turbine fuel was reduced from 15 August 2026. Petrol export duty was reduced to nil, and export-duty rates on diesel and ATF were lowered. Duty rates for petrol and diesel cleared for domestic consumption remained unchanged. The export-duty framework seeks to maintain domestic petroleum-product availability and limit export advantages arising from higher global crude oil prices amid West Asia tensions.
August 15, 2026
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Energy self-reliance drives diversified fuel sourcing, expanded offshore exploration, and domestic capacity to reduce geopolitical supply vulnerability.
Energy security policy seeks to reduce exposure to geopolitical pressure and supply disruption caused by dependence on overseas fuel and strategic maritime routes. India is diversifying crude oil and LNG sourcing while strengthening domestic hydrocarbon production through offshore exploration, seismic surveys, exploratory drilling and shared infrastructure. Expanded access to sedimentary basins is intended to unlock domestic oil and gas resources. Wider piped natural gas coverage, solar generation, critical-mineral exploration, and nuclear and other non-fossil energy sources support the broader objective of energy self-reliance.
August 14, 2026
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Current account deficit widened as merchandise trade imbalance expanded, despite stronger services surplus, transfers, and positive capital inflows.
India's current account deficit widened in June 2026, principally because merchandise imports increased faster than exports and expanded the merchandise trade deficit. A higher services surplus, increased net transfers and a narrower net income deficit provided partial offsets. Net capital inflows, including foreign direct investment and foreign portfolio investment, supported a positive overall monthly balance. During the April-June quarter, despite increased services surplus and net transfers, the overall balance shifted to a deficit as the merchandise trade deficit widened.
August 14, 2026
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Concessional foreign-currency swap facility closes early for new FCNR(B) deposits while ECB and OFCB access remains available.
The concessional swap facility for FCNR(B) deposits encourages foreign-currency inflows and supports foreign-exchange liquidity. New FCNR(B) deposits eligible for the facility must be mobilised by 31 August 2026, while swaps for eligible deposits may be availed until 11 September 2026. The swap arrangement for External Commercial Borrowings and Overseas Foreign Currency Borrowings remains available until 31 December 2026.
August 14, 2026
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Insurance grievance redressal requires initial insurer complaint, prompt acknowledgement, and escalation through integrated monitoring channels when resolution remains unsatisfactory.
Insurance policyholder grievances must first be raised with the concerned insurer, whose Grievance Redressal Officer and Board-level monitoring committee oversee redressal. Complaints received through digital channels, correspondence or call centres are recorded in the insurer's Complaints Management System, integrated with Bima Bharosa. Insurers must acknowledge complaints immediately and resolve them within 14 days. Where no response is received within a reasonable period or the response is unsatisfactory, policyholders may escalate through Bima Bharosa or designated helplines, email or physical correspondence.
August 14, 2026
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Foreign exchange reserve growth reflects increases in foreign currency assets, gold holdings, special drawing rights, and IMF reserve position.
India's foreign exchange reserves rose to USD 707.002 billion for the week ended 7 August 2026. The increase comprised higher foreign currency assets, gold reserves, special drawing rights and the reserve position with the IMF. Foreign currency asset valuation incorporates appreciation or depreciation of non-US currencies held in reserve assets. Measures including the FCNR(B) scheme were introduced to attract additional foreign exchange inflows.
August 14, 2026
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Wholesale and producer price indices show July inflation movements, provisional estimates, final revisions, and manufacturing input-price trends.
Wholesale Price Index, Output Producer Price Index, and trial Input Producer Price Index estimates under the 2022-23 base-year series set out provisional July 2026 measures and final May 2026 revisions. All-commodities WPI stood at 110.0 in July 2026, with year-on-year inflation of 9.78 per cent. The all-commodities Output PPI was unchanged at 109.9, while the trial Input PPI for manufacturing was provisionally estimated at 105.9. Final May WPI, Output PPI and trial Input PPI measures were revised from their respective provisional estimates.
August 14, 2026
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Logistics data visibility enables EXIM container tracking, operational analytics and multimodal shipment monitoring across India's logistics chain.
Logistics Data Bank provides near real-time visibility of India's EXIM container movement through technology-based tracking and stakeholder monitoring tools. RFID-based coverage extends across ports, terminals, inland logistics facilities, rail networks, industrial zones, borders and highways. The platform uses RFID, Internet of Things, Big Data and Cloud technologies, with analytics on dwell time, transit time, and port and terminal performance to identify logistics bottlenecks. LDB 2.0 adds high-seas tracking of export containers and multimodal shipment visibility.
August 14, 2026
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International organic buyer-seller linkages support Tripura producers through direct sourcing engagement, market access and sustainable export opportunities.
International Organic Buyer-Seller Meet in Tripura created a direct platform for organic producers, Farmer Producer Organisations, exporters and international buyers to explore sourcing opportunities, market requirements and long-term commercial linkages. Organic and naturally produced goods, including Queen Pineapple, GI-tagged Kalikhasa Rice, organic ginger and turmeric, black sesame, jackfruit and scented lemon, were showcased through product displays and producer interactions. The initiative seeks to strengthen global market access, sourcing partnerships and income opportunities for organic farmers.
August 14, 2026
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Wholesale price inflation moderation was driven by softer fuel prices, while manufactured goods and primary articles recorded higher inflation.
Wholesale price inflation moderated in July, led by a decline in fuel and power inflation and a marginal easing in food-article inflation. Inflation in manufactured products and primary articles increased, making the moderation uneven across groups. Mineral oils, food articles, basic metals, non-food articles, food products, and chemical products remained significant inflation drivers. The output Producer Price Index remained unchanged year-on-year, with lower manufacturing and mining inflation offset by higher agriculture and electricity producer-price inflation.
August 14, 2026
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International investment-grade issuer ratings support expanded foreign-currency funding, trade finance, correspondent banking and cross-border financial market access.
IDFC FIRST Bank's inaugural international investment-grade issuer credit ratings, with a stable outlook, are expected to improve access to international funding markets and global financial counterparties. The rating is intended to support standby letter of credit lines, foreign-currency funding through its GIFT City International Banking Unit, mobilisation of FCNR(B) deposits, correspondent banking relationships and cross-border trade finance. Strong capitalisation, improving profitability, stable asset quality and a granular retail funding profile underpin the outlook.
August 14, 2026
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Clandestine psychotropic drug manufacturing faces enforcement targeting precursor chemicals, concealed laboratories, illicit production networks and trafficking operations.
Enforcement action against clandestine manufacture of psychotropic substances led to the detection of a residential drug-production facility. Searches recovered amphetamine and intermediary forms, precursor chemicals, reagents, raw materials, and manufacturing equipment. Field testing indicated the presence of amphetamine, a psychotropic substance regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985. The recovered apparatus and materials indicated illicit manufacture, while preliminary investigation pointed to short-term, intermittently operated facilities intended to conceal production activities.
August 13, 2026
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International banking unit expands cross-border financing, trade finance and foreign-currency service access through GIFT City operations.
UCO Bank has launched an International Financial Services Centre Banking Unit at GIFT City to provide permitted international banking services. The unit offers trade finance, external commercial borrowings, foreign-currency loans, loan syndication, treasury services and other permitted financial services. It serves Indian corporates, exporters, importers, financial institutions, overseas businesses and other eligible customers requiring cross-border financing and access to global financial markets. FCNR(B) deposits are also offered through the unit.
August 13, 2026
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Last-mile credit access is prioritised through timely lending, wider beneficiary coverage, digital support and stronger fraud vigilance.
Banking-sector participation is emphasised through last-mile credit access for MSMEs, women entrepreneurs, rural artisans, small farmers and other underserved beneficiaries. Banks are urged to expedite government-scheme applications, maximise coverage and use technology for timely financial support. Industrial-policy assistance and incentives cover startups, SC/ST entrepreneurs, persons with disabilities and first-generation entrepreneurs. Greater coordination, expanded village banking access, and vigilance against cyber fraud and mule accounts are also prioritised.
August 13, 2026
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Merchandise trade growth saw rising exports to major markets alongside increased imports and continuing United States trade-pact negotiations.
India's merchandise trade data records increased July exports to the United States and China, alongside growth in imports from both markets. Exports to Singapore, the United Arab Emirates, the Netherlands, Germany, South Africa, Tanzania, Australia, Malaysia, Sri Lanka, Italy and Vietnam showed positive growth, while July exports declined for the United Kingdom, Bangladesh, Saudi Arabia and Nepal. Imports also increased from Russia, Korea, Singapore, Germany, Oman, Malaysia, Taiwan and Brazil. India and the United States are negotiating a trade pact amid an additional United States tariff on India.
August 13, 2026
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GST transport documentation enforcement addresses freight movement of metals without valid e-way bills and invoices under applicable rules.
GST enforcement action led to the seizure of copper and aluminium ingots transported by freight train without valid e-way bills and invoices. The metals were found in three train wagons during inspection of parcel cargo. Further proceedings are to be undertaken under applicable GST rules concerning movement of goods without prescribed transport documentation.
August 13, 2026
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Merchandise trade deficit widens as import growth outpaces exports despite strong petroleum, electronics and engineering shipments.
Merchandise trade in July 2026 saw exports rise 19.63 per cent and imports increase 17.52 per cent, widening the trade deficit to a six-month high. Petroleum products, electronics, engineering goods and marine goods supported export growth, while crude oil and several commodity and capital-goods categories increased imports. During April-July 2026-27, faster import growth widened the cumulative merchandise trade deficit compared with the corresponding prior-year period.

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Union Budget 2026–27 Drives Passenger-Centric Railway Modernisation, Enhanced Safety, and All-Round Regional Development

February 4, 2026

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High-Speed Rail Corridors to Reduce Travel Time; Delhi–Varanasi in 3 Hours 50 Minutes, Varanasi–Siliguri in 2 Hours 55 Minutes, Chennai–Bengaluru in 1 Hour 13 Minutes, Mumbai–Pune in 48 Minutes

Himalayan Rail Expansion to Enhance Pilgrim, Tourist and All-Weather Connectivity; Rishikesh–Karnaprayag Line and Uri Extensions to Improve Access to Remote Areas

Planned 40-km Underground Rail Corridor to Strengthen Connectivity Between Northeast and Rest of India; Four-Line Expansion to Ensure Uninterrupted Passenger and Freight Movement

Railway development across the country has received a major boost under the Union Budget, with record allocations to states aimed at strengthening connectivity, enhancing passenger safety, modernising infrastructure, and expanding freight networks. This sustained investment reflects the government’s commitment to all-round development, positioning railways as a key driver of economic growth and logistics efficiency nationwide.

In the Union Budget 2026–27, the Ministry of Railways has firmly positioned rail investment as a driver of regional integration, passenger convenience, and economic opportunity across states, aligned with priorities such as high-speed connectivity, multi-modal mobility, electrification, and secure logistics.

Major states like Uttar Pradesh are poised for transformation through new bullet-train corridors between Delhi–Varanasi and Varanasi–Siliguri, aimed at sharply reducing travel time between key economic and cultural centres, strengthening tourism flows, and connecting secondary cities along the route. The proposed Varanasi–Siliguri corridor will connect important religious, educational, and medical centres across Uttar Pradesh, Bihar and West Bengal. The Delhi–Varanasi high-speed corridor will enable travel in around 3 hours 50 minutes. Further, the high-speed rail corridor from Varanasi via Patna to Siliguri in West Bengal will enable travel between Varanasi and Siliguri in about 2 hours and 55 minutes. This connectivity is expected to create a new economic corridor across the belt spanning Delhi, Uttar Pradesh, Bihar and West Bengal, significantly boosting regional development and economic activity.

West Bengal is similarly set to benefit from the first high-speed rail service in eastern India linking Siliguri to Varanasi, improving inter-regional mobility and expanding trade and service opportunities. Across the Northeast and adjoining regions, record allocations have triggered new line construction, station redevelopments, and safety enhancements, improving connectivity within remote areas and strengthening links with the rest of the country. These works are expanding access to education, healthcare, tourism, and formal markets, while supporting local enterprises.

A key strategic priority is the planned 40-km underground rail corridor, connecting the North East with the rest of the country. The planning is on to lay underground railway tracks, and also make the existing tracks four-line, creating additional capacity and ensuring uninterrupted, resilient rail movement through this critical transit zone for both passengers and freight.

States such as Punjab, Haryana and Himachal Pradesh have completed 100% electrification and are upgrading stations under the Amrit Bharat Station Scheme, improving rail safety, sustainability, and passenger facilities. In mineral and industrial belts, projects in Jharkhand and the Rowghat–Jagdalpur line in Chhattisgarh are strengthening freight linkages and regional economic activity.

In Southern India, the state-wise railway allocations are clearly geared towards high-impact passenger connectivity, anchored around the emerging high-speed rail “diamond” linking Hyderabad, Bengaluru, Chennai and adjoining urban centres. This network will significantly compress travel times between the south’s major economic engines, enabling seamless movement across the IT, manufacturing and services corridors. Bengaluru, as India’s principal technology hub, stands to gain the most, becoming far more accessible for business travel, talent mobility and inter-state commuting.

After the completion of the high speed corridor, Chennai–Bengaluru will take about 1 hour 13 minutes, Bengaluru–Hyderabad around 2 hours, and Chennai–Hyderabad around 2 hours 55 minutes. This network is expected to serve as a powerful growth multiplier for Karnataka, Telangana, Andhra Pradesh, Tamil Nadu, Kerala and Puducherry, significantly boosting regional development.

In Maharashtra, the major share of the allocation is focused on high-impact, capacity-enhancing projects, particularly the Mumbai–Pune high-speed rail corridor, expansion of congested trunk routes, modernisation and redevelopment of key stations, and strengthening of suburban and inter-city rail services to support the state’s rapidly growing passenger and freight demand.

In western and central India, the upcoming Mumbai–Pune high-speed corridor will reduce travel time to around 48 minutes, effectively integrating the two major urban centres. Further connectivity from Pune to Hyderabad in around 1 hour 55 minutes, and onward links to southern hubs, will create a continuous high-speed spine across regions, benefiting passengers and regional economies alike.

In the Himalayan and northern regions, the budget is set to boost economic access, tourism, and all-weather mobility. Uttarakhand’s Rishikesh–Karnaprayag line, featuring complex tunnels, will improve access to remote areas, reduce travel time, and support pilgrim and tourist flows, alongside broader investments in electrification and safety upgrades. Himachal Pradesh will see focused support for network expansion, modernisation, and electrification, enhancing passenger convenience in hilly terrain. In Jammu & Kashmir, strengthened rail links, including extensions toward Uri, will ensure year-round connectivity despite winter disruptions, benefiting passengers and local economies.

Freight efficiency is being strengthened through the East–West Dedicated Freight Corridor from Dankuni (West Bengal) to Surat (Gujarat), passing through Jharkhand, Bihar, Odisha, and Maharashtra. This corridor will enable faster and more reliable movement of goods, ease congestion on passenger lines, reduce logistics costs, and support industrial and trade growth across these key economic states.

For passengers, these initiatives mean shorter travel times, safer and more comfortable trains, modernised stations, reduced overcrowding, and improved last-mile connectivity. At the same time, Indian Railways’ long-term goal of 3,000 million tonnes of freight loading will be supported through dedicated freight corridors, modern locomotives, upgraded tracks, and advanced signaling, allowing goods to move faster without disrupting passenger services. Higher capital investment across states will create jobs, boost regional development, and strengthen local economies. With strong coordination between the Union and state governments, the vision of Viksit Bharat can be realised. Following the policy announcement, detailed planning and implementation will now begin to turn this vision into reality.

State-wise Rail Budget Allocation Details

Andhra Pradesh: Andhra Pradesh has witnessed a remarkable transformation in its railway infrastructure, with the annual average budget for the state and Telangana increasing elevenfold from ₹886 crore in 2009–14 to ₹10,134 crore in 2026–27. This significant investment has supported ongoing projects worth ₹92,649 crore.

Assam & NE Region: Assam and the North-East region have experienced substantial railway development, with the annual average budget increasing more than fivefold from ₹2,122 crore in 2009–14 to ₹11,486 crore in 2026–27. This funding has facilitated ongoing projects totaling ₹72,468 crore.

Bihar: Bihar has experienced a transformative expansion of its railway infrastructure, with the annual average budget increasing ninefold from ₹1,132 crore in 2009–14 to ₹10,379 crore in 2026–27. This unprecedented investment has supported ongoing projects totaling ₹1,09,158 crore.

Chhattisgarh: Chhattisgarh has witnessed a remarkable transformation in its railway infrastructure, with the annual average budget rising 24-fold from ₹311 crore in 2009–14 to ₹7,470 crore in 2026–27. This significant investment has supported ongoing projects totaling ₹51,080 crore.

Delhi: Delhi has experienced a significant transformation in its railway infrastructure, with the annual average budget increasing 28-fold from ₹96 crore in 2009–14 to ₹2,711 crore in 2026–27. This investment has facilitated ongoing projects totaling ₹8,976 crore.

Goa: Goa’s railway infrastructure has received a significant boost, with an allocation of ₹515 crore in 2026–27 supporting ongoing projects totaling ₹4,344 crore.

Gujarat: Gujarat’s railway infrastructure has undergone a remarkable transformation, with the annual average budget increasing 29 times from ₹589 crore during 2009–14 to ₹17,366 crore in 2026–27. This historic investment has enabled ongoing works worth ₹1,28,748 crore.

Haryana: Haryana has experienced a transformative expansion of its railway infrastructure, with the annual average budget increasing 11-fold from ₹315 crore in 2009–14 to ₹3,566 crore in 2026–27. This historic investment has supported ongoing projects totaling ₹12,091 crore.

Himachal Pradesh: Himachal Pradesh has witnessed a significant transformation in its railway infrastructure, with the annual average budget increasing 27-fold from ₹108 crore in 2009–14 to ₹2,911 crore in 2026–27. This investment has supported ongoing projects totaling ₹17,711 crore.

Jammu & Kashmir: Jammu & Kashmir has seen steady development in its railway infrastructure, with the annual average budget increasing from ₹1,044 crore in 2009–14 to ₹1,086 crore in 2026–27. This investment supports ongoing projects totaling ₹522 crore.

Jharkhand: Jharkhand has experienced a transformative boost in its railway infrastructure, with the annual average budget increasing 16-fold from ₹457 crore in 2009–14 to ₹7,536 crore in 2026–27. This historic investment has supported ongoing projects totaling ₹63,470 crore.

Karnataka: Karnataka has witnessed significant growth in its railway infrastructure, with the annual average budget increasing ninefold from ₹835 crore in 2009–14 to ₹7,748 crore in 2026–27. This investment has supported ongoing projects totaling ₹52,950 crore.

Kerala: Kerala has witnessed an unprecedented surge in investment and development in its railway infrastructure, with the state’s annual average railway budget allocation rising nearly tenfold from ₹372 crore in 2009–14 to ₹3,795 crore in 2026–27. This historic funding push has supported ongoing works worth ₹18,041 crore.

Madhya Pradesh: Madhya Pradesh has witnessed a transformative surge in railway investment, with the annual average budget increasing 24-fold from ₹632 crore in 2009–14 to ₹15,188 crore in 2026–27. This historic allocation has supported ongoing projects totaling ₹1,18,379 crore.

Maharashtra: Maharashtra has undergone a historic transformation in its railway infrastructure, with the annual average budget increasing 20-fold from ₹1,171 crore in 2009–14 to ₹23,926 crore in 2026–27. This unprecedented investment has supported ongoing projects totaling ₹1,70,058 crore.

Odisha: Odisha has witnessed a significant transformation in its railway infrastructure, with the annual average budget increasing 13-fold from ₹838 crore in 2009–14 to ₹10,928 crore in 2026–27. This historic investment has supported ongoing projects totaling ₹90,659 crore.

Punjab: Punjab has witnessed a remarkable transformation in its railway infrastructure, with the annual average budget increasing 25-fold from ₹225 crore in 2009–14 to ₹5,673 crore in 2026–27. This historic investment has supported ongoing projects totaling ₹26,382 crore.

Rajasthan: Rajasthan has witnessed a major transformation in its railway infrastructure, with the annual average budget increasing 15-fold from ₹682 crore in 2009–14 to ₹10,228 crore in 2026–27. This historic investment has supported ongoing projects totaling ₹56,863 crore.

Tamil Nadu: Tamil Nadu has witnessed a major transformation in its railway infrastructure, with the annual average budget increasing ninefold from ₹879 crore in 2009–14 to ₹7,611 crore in 2026–27. This substantial investment has supported ongoing projects totaling ₹35,701 crore.

Telangana: Telangana has witnessed significant growth in its railway infrastructure, with the annual average budget increasing sixfold from ₹886 crore (Andhra Pradesh + Telangana) in 2009–14 to ₹5,454 crore in 2026–27. This major investment has supported ongoing projects totaling ₹47,984 crore.

Uttar Pradesh: Uttar Pradesh has witnessed a historic transformation in its railway infrastructure, with the annual average budget increasing 18-fold from ₹1,109 crore in 2009–14 to ₹20,012 crore in 2026–27. This massive investment has supported ongoing projects totaling ₹92,056 crore.

Uttarakhand: Uttarakhand has witnessed a remarkable transformation in its railway infrastructure, with the annual average budget increasing 26-fold from ₹187 crore in 2009–14 to ₹4,769 crore in 2026–27. This investment has supported ongoing projects totaling ₹39,491 crore.

West Bengal: West Bengal has witnessed a major transformation in its railway infrastructure, with the annual average budget increasing threefold from ₹4,380 crore in 2009–14 to ₹14,205 crore in 2026–27. This historic investment has supported ongoing projects totaling ₹92,974 crore.

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