**Executive Summary**
This report, released by the Ministry of Railways on January 5, 2026, details the Indian Railways' capital expenditure (CAPEX) utilization in the first three quarters of the current fiscal year. The report focuses on expenditure towards safety, capacity enhancement, infrastructure modernization, and passenger amenities. It notes that the targets for FY 2025-26 are likely to be fully achieved.
**Key Points / Main Content**
* **Overall CAPEX Utilization:**
* Indian Railways has utilized 80.54 percent (₹2,03,138 crore) of its total Gross Budgetary Support (GBS) of ₹2,52,200 crore as of December 2025.
* This represents a 6.54 percent increase in GBS utilization compared to the same period last year (December 2024).
* **Expenditure by Category:**
* Safety-related works have seen 84 percent utilization of allocated funds.
* Capacity augmentation has utilized ₹76,048 crore (69 percent) out of the allocated ₹1,09,238 crore.
* Customer amenities have seen 80 percent utilization, with expenditure of ₹9,575 crore.
* **Impact of CAPEX:**
* CAPEX has enabled the introduction of 164 Vande Bharat train services and 30 Amrit Bharat train services.
* The Kavach automatic train protection system is being implemented.
* Over 99 percent electrification of the broad-gauge network has been achieved.
* Investments in PSUs and metropolitan transport systems have been made.
* These initiatives have significantly improved speed, safety, and passenger comfort.
* The Vande Bharat Sleeper train set will be inaugurated shortly.
* **Future Outlook:**
* The Ministry of Railways' GBS expenditure plan is on track, and infrastructural works are being executed expeditiously.
* Targets for FY 2025-26 are likely to be fully achieved.
**Impact Analysis**
**Ministry of Railways**
* **Impact**
* The Ministry is demonstrating a strong trend in utilizing allocated Gross Budgetary Support (GBS) outlays.
* The Ministry's initiatives have significantly improved speed, safety, and passenger comfort
* **Action Required**
* Continue to ensure timely execution of infrastructural works.
**Passengers**
* **Impact**
* Passengers will benefit from faster, safer, and more comfortable rail travel.
* **Action Required**
* Passengers can expect improved rail services in the near future.
Key Entities Referenced
Gross Budgetary Support (GBS): Government funding allocated to the Indian Railways for infrastructure development and other expenses.
Ministry of Railways: The primary governing body responsible for the management and development of the Indian Railways.
Indian Railways: The national railway system of India, responsible for rail transport throughout the country.
Vande Bharat train services: A series of high-speed train services that are being introduced by Indian Railways.
Amrit Bharat train services: A series of train services that are being introduced by Indian Railways.
Ministry of Railways
Indian Railways Utilises Over 80 Percent of
CAPEX in First Three Quarters of Current Fiscal
Major Expenditure Directed Towards Safety, Capacity
Enhancement, Infrastructure Modernisation and Passenger
Amenities
प्रव तथ: 05 JAN 2026 5:11PM by PIB Delhi
Indian Railways is delivering faster, safer, and world-class rail travel at affordable cost across India by
transforming itself into a future-ready organisation aligned with the vision of a modern and connected
nation. Demonstrating this focused approach, Indian Railways has maintained a strong trend in the
utilization of allocated Gross Budgetary Support (GBS) outlays for 2025-26.
As of the end of December 2025, Indian Railways has spent 80.54 per cent, i.e., ₹2,03,138 crore of the
total GBS of ₹2,52,200 crore. This represents a 6.54 per cent increase in GBS utilization compared to
the same period last year (December 2024). The expenditure has primarily focused on safety measures,
capacity enhancement, infrastructure modernization, and passenger amenities.
In the category of safety-related works, 84 per cent of the allocated funds have been utilized. For capacity
augmentation, out of ₹1,09,238 crore allocated, ₹76,048 crore (69 per cent) has been expended.
Customer amenities have seen 80 per cent utilization, with expenditure amounting to ₹9,575 crore till
December 2025.
The results of consistent capital expenditure (CAPEX) over the last decade are evident in 164 Vande
Bharat train services, 30 Amrit Bharat train services, the implementation of the Kavach automatic
train protection system, over 99 per cent electrification of the broad-gauge network, and extensive
works covering new lines, gauge conversion, track doubling, traffic facilities, investments in PSUs,
and metropolitan transport systems. These initiatives have significantly improved speed, safety, and
passenger comfort, while keeping rail travel affordable. With the Vande Bharat Sleeper train set for
inauguration shortly, Indian Railways is poised to transform long-distance rail travel.
These trends indicate that the Ministry of Railways’ GBS expenditure plan is on track, with
infrastructural works being executed expeditiously. They also suggest that the targets for FY 2025-26 are
likely to be fully achieved.
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Dharmendra Tewari/ Dr. Nayan Solanki/ Ritu Raj/ Manik Sharma
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