Amid a spate of accidents in recent days, Union Minister Ashwini Vaishnaw announced on Tuesday that the Railways Ministry would use the **₹1.

08 lakh crore** budget allocation for 2024 to **boost safety**.

He also mentioned that the **Kavach 4.

0 safety system** was approved last week.

Addressing a post-budget conference, Vaishnaw stated, '₹1.

08 lakh crore of budget allocation to Indian Railways will be used to boost railway safety in 2024-25.

' Sharing the news of the Kavach 4.

0 safety system's approval, the railways minister said **4,275 km of optical fiber** have been laid down under Kavach systems in India.

'10,000 extra general coaches over and above the 2,500 general coaches announced earlier will be manufactured in India,' he added.

The **Operating Ratio target** of Indian Railways for 2024-25, Vaishnaw said, has been set at **98.

22%** from **98.

65%** in 2023-24.

Vaishnaw termed the announcement of the abolition of the **angel tax** as a significant milestone that will boost the startup ecosystem in India.

It is a 'very good decision' and has been the biggest demand of deep tech startups, Vaishnaw said, adding that the move will spur investment in startups.

'Angel tax has been a long-standing issue.

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deep tech startups had a major issue on how do you do valuation.

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that point has been addressed with its abolition,' he said at a post-budget conference.

Vaishnaw also said that the IT Ministry is working on developing a **mobile component ecosystem**.

'The budget has announced rationalization of customs duty which will hugely benefit the industry.

' 'Server and laptop manufacturing has started in India.

The success we have witnessed in mobile manufacturing, we will witness the same in this sector,' he added.

The minister also said that **5 lakh jobs** have been awarded in the **10 years of NDA governance**, 20% higher than the **4.

11 lakh jobs** awarded under the **10 years of UPA government**.