Finance Minister Nirmala Sitharaman on Tuesday participated in a traditional 'halwa' ceremony, marking the final stage for the preparation of the Union Budget 2026-27, to be unveiled on February 1 in the Lok Sabha.
The premium trains will be the focus area as the project has been the revenue generator for the loss-making passenger operations
The Rail Budget we have prepared is in the interest of the nation and railways.
Prime Minister Manmohan Singh on Wednesday hailed as "forward-looking" the Rail Budget which has proposed hike in passenger fares in various ranges in different categories.
Sinha, a former Finance Minister, said the hike put a 'big burden' on the people as it is 'steep'.
Modi said 'Vision 2020' will make the Railways free from constraints.
Finance Minister Nirmala Sitharaman on Friday participated in a traditional 'halwa' ceremony, marking the final stage for the preparation of Union Budget 2025-26 to be unveiled on February 1 in the Lok Sabha. The ceremony is a customary ritual in which traditional dessert 'halwa' is prepared and served to officials and staff members of the finance ministry who are involved in the preparation of the Budget.
The Rs 10,807-crore (Rs 108.07 billion) budget for implementation of Sixth Pay Commission recommendations and to fund various ongoing projects was passed by a voice vote. Some members were not satisfied with the budget. The BJD members walked out alleging that Orissa had been ignored.
Railway Minister Lalu Prasad Yadav has hinted at a people friendly railway budget, which will be presented on Feb 26.
The Budget and related appropriation bills were passed by the Lok Sabha on Monday.
Expectations of muted expenditure on railway infrastructure and the assumption that there would be no further fare hikes may have contributed to the fall, according to analysts.
The opposition National Democratic Alliance stalled the Question Hour in both Houses of Parliament on the Quattrocchi issue and did not allow the Rail Budget to be read out in the Lok Sabha.
No increase in passenger and freight fares. Ticket reservations over mobile phones to be introduced soon.
Congress on Tuesday slammed the Railway Budget as "pro-rich" with former Congress leader Mukesh Sharma removing Sadanand Gowda's nameplate, stepping on it in protest of what the party has called a anti-poor budget.
"The Rail Budget is likely to be presented on July 8. The ministry is preparing a status report to be presented before the Railway Minister. The report is to be submitted in a day or two and after that the budget outline will be drawn by the minister," a senior ministry official said.
Former Railway Ministers were not on the same track as incumbent Sadananda Gowda, calling the Rail budget "pro-rich" and a " Modi gadget" which has nothing new to offer.
Railway Board chairman SS Khurana, in an interaction with the media after the Interim Rail Budget, said the railways would lose Rs 700 crore (Rs 7 billion) annually following the fare cut. He also pointed out that the ministry would continue to optimise freight earning through its dynamic pricing policy.
Offering a bonanza for train travellers, Railway Minister Pawan Kumar Bansal announced that the Indian Railways will start new trains.
For Railways Minister Suresh Prabhakar Prabhu, the Budget for 2016-17 on Thursday could well prove his toughest hour.
The Railways are unlikely to carry out any major changes in passenger fares in the Rail Budget for the eighth year in succession, even as more than 100 new trains could be announced, including a dozen non-stop Durontos.
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.
In a few hours Union Minister Laloo Prasad Yadav will announce his first Rail Budget. Take the Rediff Business Quiz and find out how much you know about the Indian Railways.
The minister wants maximum use of alternative fuel in rail operations.
Dismissing suggestions that the Rail Budget was West Bengal-centric, Railway Minister Mamata Banerjee on Wednesday said those raising the issue are 'humiliating' the state and advised journalists not to ask 'politically manipulative' questions.
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.
Insiders said she remained closeted with top railway officials for hours finalising the Budget on Tuesday and left her Rail Bhawan office only at 3.30 am on Wednesday.
The initiatives intended to benefit the common man include e-ticketing, catering on demand, bio-toilets, food for infants, better stations.
With the Rail Budget scheduled to be presented in the Lok Sabha on July 3, Railway Minister Mamata Banerjee said on Wednesday that it will be a people's budget.
With a view to reducing its dependence on conventional sources of energy, Railways is looking to harness solar power in a big way and is likely to include a plan for the same in its upcoming budget.
"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.
On the lines of entertainment provided by airlines, Prasad may announce launching of this scheme beginning with Shatabdi trains, Rail Bhawan sources said.
Likely to be merged with Union Budget from FY18
Debroy's economic interests and research work covered numerous areas such as economic theory, income inequality, and infrastructure financing.
The forthcoming Railway Budget is, perhaps, going to be the toughest one for Union Railway Minister Mamata Banerjee.
The Indian Railways has called a two-day meeting of all zonal railway managers in New Delhi this month to review ongoing projects and discuss measures to improve the financial position in wake of a stiff rise in running cost and fears of the PSU missing earning targets.
Introduction of new trains including a Jan Sadharan Express - the common man's version of Rajdhani Express, and announcement of fresh gauge conversion projects are expected in the interim Rail Budget to be presented in the Lok Sabha on Friday.
Railways Minister Sadananda Gowda will present his maiden Rail Budget on July 8 in Parliament.
The Opposition on slammed the Rail Budget for increasing the burden on the common man, with BJP terming it as "pedestrian" and "discriminatory" while Left said it does not give any hope on railways' future.
The railways recently successfully completed an experiment on the Delhi-Agra route for semi-high speed (up to 160 km/hr).
Railway Budget will be presented on February 26.
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