Prime Minister Narendra Modi on Friday said the world has seen the power of India's indigenous weapons during Operation Sindoor, which is 'not over yet'.
To boost domestic manufacturing under the Make in India initiative and reduce dependency on imports, the government is expected to announce in the Budget an increase in the minimum local content requirement for public procurement, with certain sectors being granted exceptions. Currently, firms producing goods, services, or works with at least 50 per cent local content are classified as Class-I local suppliers and are preferred the most in government procurement.
The maiden Railway Budget of the Narendra Modi-led NDA government seems to have not gone down well with the suburban commuters as it does not offer anything new to them, commuters associations in Mumbai said.
The railways total earnings recorded an 8.3 per cent growth at Rs 33,900 crore (Rs 339 billion) up to December this year as compared to the corresponding period in the previous year.
'I think governments -- whether this one or the ones earlier -- have not understood the strength of the Indian Railways... that it can easily add 2.5 per cent to GDP.'
Opens operations in high-speed train, freight and suburban corridors to private sector
For Railways Minister Suresh Prabhakar Prabhu, the Budget for 2016-17 on Thursday could well prove his toughest hour.
Trivedi presented the Railway Budget in the Parliament on Wednesday.
While a host of pro-public announcements made by her in the last Railway Budget (2010-11) have been implemented, Indian Railways' finances have gone from bad to worse.
Suresh Prabhu said the freight business was 'struggling'.
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The estimated market borrowing by these two companies during current fiscal were pegged at Rs 13,800 crore (Rs 138 billion) from markets, as per the interim Railway Budget for 2014-15 tabled in February.
The Indian Railways lost about 40 per cent of its business due to disturbance including Maoist violence and agitations.
Overall market reaction to the Budget was neutral. Investors absorbed the changes to the tax rates (positive for salaried class) and capital gains taxes (CGTs, negative due to the removal of indexation and increases. Other proposals largely pertain to supporting rural development, buybacks taxed as dividends, Custom duty changes that impact multiple sectors, higher outlays for clean energy, etc. There's some moderation in the growth of capex outlay across defence, fer
In its forthcoming Budget, Railways also propose to launch more passenger services and speed up existing trains.
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
The clarification comes in wake of media reports that Finance Ministry is contemplating to merge the Railway and General budgets and change the financial year.
'If you align your ambition with India's rise, the peak of your careers will unfold alongside the peak of India's power.'
Union Railway Minister Lalu Prasad Yadav presented the Railway Budget for 2004-2005 in the Lok Sabha on Tuesday (July 6, 2004).
Railways to have functional autonomy, bear salary burden
In an eventful week ahead, stock market investors will take cues from major events like the US Federal Reserve's interest rate decision, the upcoming Union Budget and Q3 earnings, analysts said.
Nationalist Congress Party on Tuesday expressed grave disappointment over the railway budget with its chief Sharad Pawar telling a meeting of the United Progressive Alliance coordination committee that Mumbai has been neglected, which is "not acceptable".
IRCTC will work on Kisan Yatra, a special travel scheme to help farmers to learn about new farming and marketing technique.
PSUs under the railways ministry include Ircon International, a turnkey infrastructure construction company; Railtel (telecom); Indian Railway Catering and Tourism Company; and Rites, a consultancy, engineering and project management firm.
Presenting the Railway Budget for 2010-11 in Parliament, the minister said outpatient departments and diagnostic centres will be set up in several stations across India.
At the helm of India's most enterprising ministry, Mamata Banerjee promises the best service from the Indian Railways.
In the current fiscal, as per the revised estimate, these two companies raised Rs 14,942 crore (Rs 149.42 billion) from markets.
These stations will have dormitories especially for lady passengers, will be equipped wih better signage among other facilities. The Indian Railways have already identified 309 stations for the scheme.
The railways is firming up plans to set up a traction motor factory in Vidisha and a wagon workshop in Visakhapatnam with an aim of stepping up its manufacturing activities in line with the 'Make in India' campaign.
Former minister for Railways Dinesh Trivedi speaks exclusively to rediff.com on a day when the Railway Budget will be presented in Parliament.
Big challenge to garner sizeable additional resources.
Rattled by a series of train accidents, the Railways plan to install a device to prevent collisions, Railway Minister Nitish Kumar said on Wednesday.
India's food processing minister Subodh Kant Sahay on Thursday met Finance Minister Pranab Mukherjee in New Delhi ahead of the general\nbudget on July 6.
Railways have earned Rs 9452.84 crore (Rs 94.52 billion) in April, registering a decrease of 7.94 per cent.
The Railway Budget was on Thursday passed by the Lok Sabha with Minister Mamata Banerjee announcing a slew of measures to tone up the functioning of the Railways in terms of amenities and safety and deciding to set up an expert committee to prepare a blueprint for future.
P Chidamabaram's February 28 Budget will not have any big-ticket ideas, reports Sheela Bhatt
All eyes are now on the low profile Mukul Roy, Trinamool Congress general secretary and Minister of State for Shipping.
All eyes are now on the low profile Mukul Roy, Trinamool Congress general secretary and Minister of State for Shipping.
Rediff.com brings to you Finance Minister Pranab Mukherjee's Budget Speech Live from Parliament at 11.00 a.m. on February 26.
The Railway Budget also proposes to increase the facility for press correspondents whereby now they will be entitled to avail 50 per cent concession with family twice a year.
'The Railways decided to go for kavach three years back, but the progress has been very slow.'
