Railway Minister Lalu Prasad on Friday presented a populist interim Railway Budget in Parliament.
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.
The controversial VVIP chopper scam is set to turn the three-month-long Budget session of Parliament beginning Thursday into a troubled affair for the government with the Opposition raring for an attack eyeing the Lok Sabha polls which are not far away.
BJP termed the Rail Budget as disappointing and the concessions it gives an eyewash.
With finance ministry officials working overtime to give final touches to the country's biggest fiscal exercise, here's a look at the key people who make the Budget.
The Railway ministry has been allocated budgetary support of Rs 140367.13 crore in the Union Budget on Tuesday - Rs 20,311 crore more than the revised figures of the previous fiscal. Overall, the national transporter is set to get a capital expenditure (CapEx) push of Rs 2.45 lakh crore in the financial year 2022-23, 14 per cent higher than the budgeted capital expenditure of Rs 2.15 lakh crore for the current financial year. Finance Minister Nirmala Sitharaman in her Budget speech for 2022-23 said that India will manufacture 400 new, energy-efficient Vande Bharat trains in the next three years.
Likely to be merged with Union Budget from FY18
The Nifty shut shop at 5303, up 40 points.
While the session will begin with the President's address to the joint sitting of the two Houses, the same day the pre-budget economic survey will be tabled.
All meter gauge, narrow gauge sections to be made broad gauge.
'The Railways must provide a rail system that they can be proud of.'
Overhauling portfolios or making hasty investment decisions based on the budget will only hurt you.
Highlights of the Railway Budget 2004-2005 presented by the Union Minister of Railways Lalu Prasad Yadav in the Lok Sabha on Tuesday.
India Inc welcomed the Railway Budget by describing it as "balanced" focused on passenger safety and infrastructure modernisation.
Some say it is time to decongest the existing line infrastructure and cater to the supply shortage of rolling stock to meet the demand for bulk commodities such as coal, cement and foodgrains.
The net revenue of the Indian Railways is likely to grow by 32.93 per cent to Rs 11,993.13 crore (Rs 119.93 billion) in 2011-12 compared to revised estimated income for this fiscal, Railway Minister Mamata Banerjee said on Friday.
Ministers may come and ministers may go but the attitude of the RB remains the same forever, and it is this group that really calls the shots in Indian Railways, says S Pushpavanam.
According to the sources in the government, Union Budget 2012-2013 is likely to be presented in Parliament on March 19, 2012.
As per existing provisions, senior citizens aged 60 years and above are eligible for concession in the basic fares of Mail and Express trains, and all inclusive fares of Rajdhani, Shatabdi and Jan Shatabdi trains.
"Of the structural reforms, the GST has been the most historic in our country. Its chief architect is not with us today. I pay homage to the visionary leader late Arun Jaitely. GST has been gradually maturing into a tax that has integrated the country economically," she said during her budget speech.
The Railway Budget is progressive and wil ensure growth.
The Budget Session of Parliament will commence on February 22 and the General Budget for 2010-11 will be presented on February 26.
'A government whose policies are focused around making the life of ordinary citizens, specially the most deprived sections, richer; a government that prioritises education, health and transport, that doesn't treat its citizens as subjects who must come to it for everything, is rare in our country.' 'When such a government is thrown out, one is left stunned,' notes Jyoti Punwani.
Continuing the trend of the past few years, the Railway Budget for 2007-08 may leave the second class train fare unchanged, but upper class AC and freight fares may be 'rationalised,' a euphemism for an upward revision.
negotiations are on with FIs for funding these projects
'One of the biggest employment generators, the MSMEs, have not got much from the government.'
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 core sectors have not done very well in the past one year.'
'If the markets correct further, PSU stocks could continue to decline.'
The Annual Plan for Railway for 2012-13 is put at highest ever Rs 60,100 crore (Rs 601 billion).
The rates are hikes by almost 8 per cent.
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.
However, sometimes projects are included in the Budget pending government approval, though physical execution of such projects is taken up only after obtaining the requisite nod.
Rarely do the orders of the Central Administrative Tribunal go beyond redressing the grievances brought before it by employees of the government or other state-controlled organisations.
Hitting out at the previous National Democratic Alliance government for poor performance of the railways and inability to pay even Rs 2,473 crore (Rs 24.73 billion) dividend, Prasad said when the United Progressive Alliance government completes its term next year the Railways would have a total surplus of about Rs 1,00,000 crore. It has already generated a surplus of Rs 69,000 crore (Rs 690 billion) in the past four years.
Prabhu proposed an unprecedented 50% hike in investment.
Railway Minister Suresh Prabhu presented the Railway Budget in the Parliament on Thursday.
Lalu handled the obstacle of 'departmentalism' with ease.
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