The Indian Railways is set to record a marginal surplus in the current financial year -- much lower than the Rs 5,258 crore (Rs 52.58 billion) budgeted in February 2011. But, the fall is only a trailer, considering the country's largest passenger and goods transport network is likely to go into deficit next year.
The Cabinet Committee on Economic Affairs on Friday approved the Eastern and Western Freight Corridor proposals of the railway ministry.
While the second-class fares may not be hiked, AC travel will be more expensive.
Railway Minister Suresh Prabhu launched a host of passenger amenities and new air-conditioned trains with world class services.
Budget planners for now have been told to prepare with the assumption that GST will apply from April 1.
The stock market will most likely see bullish trends this week in the run up to Union Budget as investors pin hopes on strong reform measures to rev up the economy, say experts.
They said that massive public investment in infrastructure, social sectors and agriculture would generate employment and the Union Budget should give it a priority and allocate necessary funds for this.
UPA managers say cooling of tempers, passage of Budget are bigger priorities.
BJP, SP and CPI accuse Lalu's railway Budget as being discriminatory, parochial and disappointing.
Railway Minister Lalu Prasad on Saturday presented the Rail Budget for 2005-06 in the Lok Sabha amidst an Opposition walkout on the issue of 'tainted' ministers in the UPA government.
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.
This was a rare instance when Gandhi raised an issue during the Zero Hour.
Railway Minister Lalu Prasad Yadav has hinted at a people friendly railway budget, which will be presented on Feb 26.
"The next budget for the Railways will be unprecedented and astonishing. We want to further expand its network in the country and reach such people who have not yet got the opportunity to use its service," the minister said.
Climbing down from its austerity drive, Railway Minister Nitish Kumar on Wednesday pegged working expenses of the Railways higher at Rs 39447.14 crore (Rs 394.47 billion) for 2003-04
The Trinamool Congress (TMC) on Sunday alleged that Dinesh Trivedi, who resigned from the Rajya Sabha on Friday, took the 'House for a ride' and was 'allowed' to use the floor of the House for his 'devious political ends'.
Lalu laid the two-volume report immediately after he presented the railway budget for 2005-06.
The railway minister also proposed to extend 75 per cent concession in second-class fares to government rural school students, once in a year, for study tour.
Railway Minister Lalu Prasad in his pro-poor Railway Budget for 2007-08 presented in the Lok Sabha on Monday announced major relief for passengers by cutting fares across the board.
Economic growth, which we are taking for granted, slows for a completely different set of local or global factors and the Modi premium vanishes, observes Debashis Basu.
The opposition parties will meet on Monday morning to evolve their strategy in both Houses of Parliament after protests by them on the Hindenburg-Adani issue overshadowed most of the first half of the Budget session.
Political repercussions are not the only reason why the Trinamool Congress chief would leave the sensitive issue of fares untouched before the West Bengal assembly elections in April.
We have requested the commerce department to delete the line that FDI was not permitted in the Railways, the minister said.
The department of investment and public asset management (Dipam) can also seek in-principle approval from the Cabinet Committee on Economic Affairs (CCEA) for strategic divestment of PSUs on a case-to-case basis considering investor appetite and sectoral trends.
Trivedi played a smart one, but not a very intelligent one, on Mamata, but she is likely to have the last laugh on the issue, reports Sheela Bhatt
BSE market breadth is positive. Out of 1,509 shares traded, 1,073 shares have advanced while 378 shares have declined in trades.
The Railways will grant 75 per cent concession from September 6 to widows of defence personnel killed in terrorist-action for travel in the second and the sleeper class of trains.
Overall, the populist/ electoral elements in the budget have remained measured with the finance minister being clearly aware of a higher-than-expected rise in oil prices, less-than-planned tax revenues and the wider deficit for FY 17/18, constraining his margin of maneuver, says Claude Claude Smadja.
Equity benchmarks Sensex and Nifty ended on a mixed note on Wednesday as the euphoria about the Budget fizzled out, with investors going for profit-taking ahead of the Fed interest rate decision. The 30-share BSE benchmark Sensex climbed 158.18 points or 0.27 per cent to settle at 59,708.08 after it trimmed most of the intra-day gains. During the day, it had zoomed 1,223.54 points or 2 per cent to 60,773.44.
After Finance Minister Arun Jaitley presented his fifth straight budget in the Lok Sabha, Bharatiya Janata Party members and ministers from the Cabinet reacted positively to the Budget. Here are some of the reactions.
Here are the key highlights of the Interim Budget 2019-20 presented by Finance Minister Piyush Goyal in the Lok Sabha on Friday.
The Bharatiya Janata Party on Saturday released its manifesto for the November 17 Madhya Pradesh elections promising MSP for wheat at Rs 2,700 per quintal and paddy at Rs 3,100 and houses for beneficiaries of the state's flagship scheme 'Ladli Bahna'.
The Railways will also add two to four 'Deen Dayalu' coaches to some long-distance trains for unreserved travel to enhance the carrying capacity
Arjun, a promising left-arm pacer, grabbed 5 for 44 in 11 overs as Mumbai bundled out Railways for 136 in their second innings to win the match by an innings and 103 runs.
Even as Indian Railways is gearing up to roll out high-speed passenger services, it seems set to record its worst performance in three years on accidents.
In a major step towards providing faster and updated information on rail services, Railway Minister Lalu Prasad on Tuesday
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.
If a minister does not have the freedom of expression, it is anything but democracy. It is a sad day for the very foundations of Indian democracy, former railway minister Dinesh Trivedi tells Neerja Chowdhury
The Rail Budget to be presented tomorrow may continue with the practice of not raising the fares and freight rates but the possibility of imposition of a safety cess may not be ruled out, at least on the higher class fares.
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