No hike in fares, freight in Railway Budget

Mar 05, 2016, 14:12
No hike in fares, freight in Railway Budget

For long, Railways has been dependent on freight traffic to generate revenue as passenger fares remained nearly static as government after government refused to touch them fearing a political backlash.

Admitting that the magnitude of investment calls for abandoning the business as usual approach and innovating to find new ways of sourcing funds and executing projects, he said the capital plan for 2016-17 had been pegged at Rs 1.21 lakh crore.

"While we saw qualitative measures on freight like enhancing its basket, we could have looked at more concrete measures", said Tilak Raj Seth Vice Chairman CII Rail Transportation & Equipment Division.

Even BJP president Amit Shah in his post-budget reaction stated that it fulfills the expectations of all sections.

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With mixed reactions pouring in on budget from different parts of the country, Anant Kumar the Chemical and Fertilzer Minister said "My colleague Shri Suresh Prabhu has taken the commitment of the Government forward to put the Railways in Mission mode”.

Women and senior citizens in the steel city have something to cheer about after the railways minister Suresh Prabhu presented his second Railway Budget on Thursday.

Antyodaya Express: Aimed at low-income travelers, the fully unreserved superfast train will operate on busy long-distance routes.

Prabhu announced plans to eliminate all unmanned level crossings by 2020, electrify 2000-km rail line next year and increase electrification budget by 50 per cent. Finally, calling coolies as "sahayaks" should bring cheer to the hard-working tribe.

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Biswanath Bhattacharya, partner, infrastructure and government services, KPMG India, termed the initiatives outlined by the ministry in the budget as "consumer- centric and execution-oriented".

With the implementation of the Seventh Pay Commission, railways' spending on staff and pension is expected to go up over the 56 percent of resources that it now spends on this account.

CCTV surveillance will be at all stations, 300 major stations would be covered this year. Earnings on account of other coaching and sundries have been projected at Rs 6,185 crore and Rs 9,590 crore, respectively.

 

 

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