According to the Ministry of Railways, IR has utilised 59 per cent of its total capital expenditure in the first six months of 2023-24. This can be attributed to 38 structural and procedural reforms implemented in these six months, which helped improve IR’s overall performance. The total rail budget for 2023-24 stood at Rs 2.4 trillion. Of this, Rs 1.4 trillion has been utilised in the first half of 2023-24. In terms of structural reforms implemented by IR, the entire project execution system, along with its financing and monitoring processes, has been revamped.