State-run Indian Railways will borrow Rs 2,970 crore (Rs 29.7 billion) from the market to finance various projects, Railway Minister Nitish Kumar told Parliament on Wednesday.
The Railways will also add two to four 'Deen Dayalu' coaches to some long-distance trains for unreserved travel to enhance the carrying capacity
Senior citizens, differently-abled, pregnant women and medically sick travellers will be given a preference
The early tabling of the financial Budget ends a 70-year tradition.
Likely to be merged with Union Budget from FY18
Banking on increased freight haul and earnings from upper class travellers, Indian Railways has projected a gross earning of Rs 43,445 crore (Rs 434.45 billion) in 2003-04.
The Railway Budget for 2003-04 proposes no increase in passenger fares and freight rates.
The upcoming Akshay Kumar starrer Toilet: Ek Prem Katha is set to use toilets of the Indian Railways
The total salary and pension bill of the central government, which will also include Railway employees, will go up from estimated Rs 4.33 lakh crore to Rs 5.35 lakh crore during 2016-17
The first Railway Budget of this Bharatiya Janata Party-led National Democratic Alliance government is a cosmetic exercise, high on rhetoric and low in substance, the CPI-M said.
The rupee on Thursday surged by 22 paise to close at a fresh three-week high of 61.75 against the US currency.
The minister plans to reinstate the Railways as the backbone of the economy
Railway Minister Suresh Prabhu presented the Railway Budget in the Parliament on Thursday.
Budget session will begin on February 23 and conclude on May 8
Finance Minister Arun Jaitley to present Union Budget on February 28.
Railway Budget is the first indicator of possibly better days
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Most of the railway-related stocks, which had seen smart gains in the past few days ahead of the Rail Budget, saw profit-booking as Railway Minister Sadananda Gowda presented the Budget.
There's a 13 per cent increase over last year, in an effort to put its flagging revenues back on track.
Steel scrips have found reason to celebrate what with freight rates for steel being reduced in the Railway Budget announced on Wednesday.
LHB coaches are safer. Two high-level railway safety commissions came down heavily on ICF coaches, recommending their replacement by LHB, says Bibek Debroy.
Passenger fares and freight rates were left untouched
Recent derailments had brought the vulnerability of the national carrier into the limelight. For the railways, the fund allotment of Rs 1 lakh crore towards safety, is a welcome move, says Subrat Nath.
The rupee on Friday resumed lower at 60.25 a dollar from previous close of 60.19 at the Interbank Foreign Exchange market.
Amid railways eyeing higher revenue from travellers in air conditioned coaches, the number of passengers in AC First Class and AC 3 Tier registered a decline in 2013-14 as compared to the previous fiscal.
Passengers can now book a meal from the different menu options available as per the choice, for delivery at the opted station or train.
In August 2013, the Cabinet had given an in-principle nod to set up the authority and sent a draft note to the railways, to be discussed with the law ministry.
Besides advancing the presentation of the Budget to perhaps the first week of January, , there are four new initiatives that could be rolled out from the next Budget, says A K Bhattacharya.
Speed of trains would be increased up to 200 kilometres/hour.
Inviting private sector in Indian Railways is a good idea.
Prabhu proposed an unprecedented 50% hike in investment.
He has now to show that he can take on the vested interests within the railways which are resisting change through corporatisation
Using lines of a popular Hindi song, "Kya hua tera vaada (what happed to your promises)," Lalu attacked the PM.
As per practice a vote-on-account or approval for essential government spending for a limited period is taken in the election year and a full-fledged budget presented by the new government.
Prime Minister Modi took over power in mid-May with high expectations that it would strengthen India's fragile macro economy and faltering investment and growth.
The minister outlined proposals on cleanliness.
Even as the Congress tired to shield Rahul Gandhi's surprise sabbatical ahead of the crucial Budget session, senior party leader Digvijaya Singh questioned his timing openly.
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The Railway Budget is likely to be presented in the second week of July.
The public sector behemoth is looking at forming joint ventures with states.
Govt wants to up investment in Railways
Events to keep an eye out for...
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