Benchmark share indices ended at record closing highs, amid a volatile trading session on Monday, with IT majors leading the gains.
The Railway Budget will be presented on February 25 while the Union Budget will be presented on February 29.
The change in leadership at the railway ministry comes at a time when the national transporter is grappling with low passenger earnings even as it is trying to increase freight loading and open up its doors to private investment. Union Minister Ashwini Vaishnaw took charge from Piyush Goyal who got the railway portfolio in 2017 after Prime Minister Narendra Modii dropped Suresh Prabhu from the Union Cabinet. Completing freight corridors, negotiating land for the bullet train, and speeding up monetisation plans would be some of the major focus areas for Vaishnaw.
Total subsidy bill could come down to around Rs 2 trillion.
Sensex slumped 518 points to end the day at 25,582 and the Nifty slipped 164 points to close at 7,623.
Anticipating healthier economic growth, the Railways has targeted a record Rs 1.6 lakh crore in revenue for the next financial year, while no increase has been proposed in passenger fares and freight rates.
Finance Minister Nirmala Sitharaman announced on Monday a record sum of Rs 1.10 lakh crore for the Railways, out of which Rs 1.07 lakh crore is for capital expenditure, and said the national transporter would monetise the dedicated freight corridors after its commissioning. Presenting the Union Budget 2021-22, Sitharaman also applauded the services provided by the Railways to transport essential goods across the country during the coronavirus lockdown.
India as a large country should have inter-modal connectivity, which will help us make travel easier, safer and seamless. That is how you will also gain. You will gain more money, make more revenues, says Praful Patel.
Though letter of allotments of land were issued to a few hotel chains like Royal Orchid and Signet Hotels for 20 sites last year, land could not be transferred due to the objections raised by the Rail Land Development Authority. The hotel plan was unfolded by the IRCTC in 2006 and accordingly 100 railway sites were selected for setting up budget hotels on public private partnership model.
Going by the number of changes Mr Jaitley's next Budget is likely to see, he will go down in the history of Budget-making as the finance minister who ushered in the largest number of changes in a single Budget, says A K Bhattacharya.
For example, railways, roads and highways, and shipping could form a section within the Budget as an omnibus transport sector
The BSE Midcap and Smallcap indices have performed better than the front-liners
The BJP leadership believes these parties are flexing their muscles in the run-up to the Lok Sabha polls for better seat-sharing deals.
State owned banks SBI and PNB were the top Nifty gainers along with ICICI Bank and auto shares.
Despite public-private partnership projects announced in several rail budgets, the investment since 2000 has been merely Rs 3,000 crore.
'Our thrust would be on basic facilities first like sanitation'.
The two major railway unions have proposed to the government an unprecedented alternative to privatisation or inviting foreign investment, to help raise funds and improve revenue.
The entire Budget-making exercise will be advanced by 3-4 weeks so as to complete the legislative part of financial business before April 1, the start of a financial year
Capital expenditure (capex) by 54 large central public sector enterprises (CPSEs) and five departmental arms with an annual capex target of Rs 100 crore and above has reached around 42.5 per cent of their annual target of about Rs 7.33 trillion in this financial year so far, a senior official from the Ministry of Finance told Business Standard. "The Centre is pushing the big public undertakings in the infrastructure and refinery sector to achieve 90 per cent of their target by the end of the third quarter," he said. The capex by this group of CPSEs stands at around Rs 3.1 trillion in the April-August period so far.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
The railways is expecting a revenue of Rs 1,84,820 crore during the current financial year (FY17).
One hopes in his next term, Narendra Modi will take up the mission of inculcating respect for following rules in Indians as a mission. Therein lies the chance for India to become a developed country, asserts Colonel Anil A Athale (retd).
Capital expenditure by 54 large central public sector enterprises and five departmental arms, having a capex minimum target of Rs 100 crore, rose 93 per cent year-on-year (YoY) in the April-May period to Rs 1.39 trillion. The National Highways Authority of India (NHAI) and the Railways have started this financial year's capex cycle on a stronger note. In the first two months of FY24, the 54 CPSEs, along with the departmental arms, achieved 19 per cent of their combined budget target of Rs 7.33 trillion, Business Standard has learnt.
Investors booked profits at higher levels despite the growth oriented Budget.
The 30-share Sensex ended higher by 30 points.
A piece of slightly negative news can cause a serious setback, warns Debashis Basu.
As Indian Railways looks to avert the crisis like last summer, preparations are under way to stock up coal at thermal power plants. Much like February and March, thermal coal movement in April was 5 per cent higher than the previous year, data from the Ministry of Railways shows. While India prepares for a hot summer this year, 48.23 million tonnes (mt) of coal for thermal power plants was ferried by Indian Railways in April. The national transporter also moved about 500,000 tonnes--18.4 per cent-- more imported coal for power plants this April than it had done last year.
Siddaramaiah announces free LGP gas, universal health scheme in budget
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we are facing a situation of empty coffers but eagerness to expand.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
The cement industry continues to present a puzzle to investors.
To understand Modi, listen to what he does not say -- vide NRC, suggests Prem Panicker.
'The Triber, which sits between the Kwid and the Duster in the Renault portfolio, is an affordable option for those who have their sights set on a multipurpose vehicle and want to get something different from, say, a Maruti Suzuki Ertiga,' says Pavan Lall.
When there is a state government committed to development, it is important that Mumbai has a civic body that, too, shares that goal, Modi said.
Union Minister Ravi Shankar Prasad has justified the Narendra Modi government's move to raise the rail fare by 14.2 per cent, saying it was a result of the policies undertaken by the previous United Progressive Alliance government. In an exclusive interview to CNN IBN, Prasad blamed the UPA II government for leaving Indian Railways in shambles, adding that his government never knew that the railways was bleeding, thanks to the Congress-led regime.
President Pranab Mukherjee addressed a joint session of Parliament ahead of the budget session which began on Tuesday. Here are the highlights of President Pranab Mukherjee's speech:
Railways has decided to introduce semi high-speed trains in nine sectors which would run at speeds of up to 160 kmph.
India is now much ahead of other large railway networks in the world in terms of electrification -- with the US at just 1 per cent, China at 72 per cent and Europe at 60 per cent.
At the Leo fete, Vijay had this also to tell his fans: 'I know you all are in my heart. But today, I also know that I am also in the hearts of all of you...' A typical politician's line, did you say, asks N Sathiya Moorthy.
The upcoming Budget gives Finance Minister Arun Jaitley a chance to let states boost spending.
