The aim is to reduce working expense by about 15 per cent.
Following are the highlights of the Railway Budget 2006-07 presented by Union Railway Minister Lalu Prasad Yadav
The high-speed free Wi-Fi internet facility is now available at 6,100 railway stations across the country, RailTel said on Tuesday. "The milestone of 6,100 stations with Wi-Fi coverage was reached today (Tuesday) with the commissioning of Wi-Fi facility at Ubarni railway station (Rae Bareli district, UP) in Lucknow Division of Northern Railway," the statement by RailTel noted.
The Indian Railways will invest Rs 41,426 crore (Rs 414.26 billion) in 2010-11 for sprucing up its network, and over a third of the planned outlay would go towards manufacturing coaches.
The 30-share barometer started higher, but lost its way soon after the railway budget.
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 Bharatiya Janata Party on Tuesday attacked Railway Minister Lalu Prasad for announcing hike in parcel rates and said many of the measures announced by the minister were initiated by the previous National Democratic Alliance government.
Expectations that a pleasing Union Budget for 2003-04 will be forthcoming tomorrow prompted an upbeat sentiment in the market today, lifting indices and spurring on buying activity in bank, tech and heavyweight stocks. \n\n\n\n
The Uttar Pradesh government is expecting over 35 crore pilgrims to attend the Maha Kumbh Mela in Prayagraj, a significant increase from the 24 crore who attended the 2019 Kumbh Mela. The event, which will take place over 45 days, will feature extensive security and sanitation measures, as well as a digital component. The state government has allocated Rs 7,000 crore for the event.
'The IPL provides a different ladder in terms of recognition.' 'If you do well, you will obviously get noticed and it enhances your selection into white-ball formats.'
In the history of Indian railway budgets, Suresh Prabhu will perhaps be the first railway minister not to have announced either a single new train or a new railway line
Rail stocks on Thursday fell by up to 8.6 per cent on the Bombay Stock Exchange (BSE) as cautious investors offloaded shares ahead of the Railway Budget, 2011-2012 to be presented on Friday.
The minister plans to reinstate the Railways as the backbone of the economy
Stepping up its offensive against the United Progressive Alliance government on the "tainted" ministers issue, the National Democratic Alliance on Friday decided to boycott the presentation of Railway Budget by Lalu Prasad Yadav in Lok Sabha on Satur
There's a 13 per cent increase over last year, in an effort to put its flagging revenues back on track.
In July last, fares were increased by 14.2%.
There is a lot of optimism as regards the defence, railway and manufacturing sectors.
'When I talk to my colleagues in the Railways, they say 'aadmi toh bohot hai, lekin matlab ka aadmi ek bhi nahi hai (the Railways has a bloated workforce, but doesn't have employees with have the skillsets that matter)'.'
Railway investment in the 12th Plan to be Rs 7.35 lakh crore
The lawmakers seem as uninterested as those who use the railways.
Passenger fares and freight rates were left untouched
Passenger tariff structure will be rationalised so that that the fares of AC first class and AC second class will be 11.5 times and 6.5 times the second-class fares, respectively.
India's economy is likely to grow by 6.5 per cent in the current and the next financial year, an EY report said, attributing lower than anticipated expansion in the September quarter to fall in private consumption expenditure and gross fixed capital formation. Real GDP growth eased to a seven-quarter low of 5.4 per cent in July-September -- the second quarter of the current 2024-25 fiscal year.
Deputy leader of BJP in the Rajya Sabha, S S Ahluwalia, maintained that both Houses of Parliament had to be adjourned on Tuesday as the government did not agree to put to vote the discussion on price rise in the Upper House and did not accept adjournment motion in the Lok Sabha.
CAG says Railways lost about Rs 4,300 crore in 2008-2012 because of improper documentation.
The early tabling of the financial Budget ends a 70-year tradition.
Railway Minister Suresh Prabhu said Budget-making was guided by the Prime Minister's words of the government being there to protect the interests of the common man.
Railway Budget is the first indicator of possibly better days
'Indian families' needs and expectations have gone through a revolution across economic demographics.' 'As this latest Modi-Sitharaman Budget demonstrated, politicians have understood this change. They are responding to it,' points out Shekhar Gupta.
While Andhra Pradesh is expected to receive Rs 15,000 crore to Rs 20,000 crore, Bihar is likely to get Rs 5,000 crore to Rs 10,000 crore in FY25.
Per capita income has more than doubled to Rs 1.97 lakh in around nine years. Indian economy has increased in size from being 10th to 5th largest in the world in the past nine years. Seven priorities of the Budget, 'Saptarishi', are inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector.
Jaitley began his speech by saying that today is the auspicious day of Basant Panjami and that "spring is the season of optimism".
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Many of the PPPs have not evinced interest, Prabhu said.
Suresh Prabhu is trapped in the 'rhetoric of his own government'.
Could it have been more reformist? Of course, but this is an election year Budget, observes Akash Prakash.
Opposition, including Bharatiya Janata Party, Left and other parties, on Tuesday walked out of the Lok Sabha, charging the government with indulging in one scam after another and saying they would not be party to the passage of the Finance Bill and the Railway Budget.
Prabhu said the Ministry was preparing a plan till 2030.
He has now to show that he can take on the vested interests within the railways which are resisting change through corporatisation
Indian Railways has plans to decongest network and become more self dependent.
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