'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)'.'
The aim is to reduce working expense by about 15 per cent.
Lalu handled the obstacle of 'departmentalism' with ease.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Following are the highlights of the Railway Budget 2006-07 presented by Union Railway Minister Lalu Prasad Yadav
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
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
'Investors should consider small and midcaps only if they can handle volatility and have a longer investment horizon.'
The minister plans to reinstate the Railways as the backbone of the economy
There's a 13 per cent increase over last year, in an effort to put its flagging revenues back on track.
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.
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
In July last, fares were increased by 14.2%.
'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.
There is a lot of optimism as regards the defence, railway and manufacturing sectors.
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.
The lawmakers seem as uninterested as those who use the railways.
Railway investment in the 12th Plan to be Rs 7.35 lakh crore
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.
Could it have been more reformist? Of course, but this is an election year Budget, observes Akash Prakash.
'Like every Budget, this time, too, there is chatter around tinkering with the long-term capital gains tax.' 'Investors may not want to jump into the markets until there is clarity on this front.'
Fight the high season and ridiculous prices with these simple and easy travel hacks.
CAG says Railways lost about Rs 4,300 crore in 2008-2012 because of improper documentation.
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.
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.
The Lok Sabha was adjourned twice in the post-lunch period on Thursday as a war of words broke out between the treasury and opposition benches, triggered by Congress MP Charanjit Singh Channi's spat with the Bharatiya Janata Party's Ravneet Singh Bittu.
Railway Budget is the first indicator of possibly better days
The Modi government's flagship initiative 'Make in India' launched 10 years ago has helped the country boost exports, push investments and promote manufacturing. Under the initiative, launched on September 25, 2014, a series of measures have been taken by the government to boost local manufacturing. These initiatives include the rollout of production linked incentive (PLI) schemes for 14 sectors, easing foreign direct investment (FDI) norms, reducing compliance burden to improve business climate, all approvals through single window, and rolling out of the national logistics policy.
'Retail investors, who had not seen such a massive correction in the SMID universe since COVID-19, are witnessing something like this for the first time. Panic profit booking may continue.'
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'.
Prabhu said the Ministry was preparing a plan till 2030.
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