Page 2 - MASTER IN BUDGET
P. 2
The Union Minister for Railways, Shri Suresh Prabhakar Prabhu presented the Railway
Budget 2016-17, in New Delhi on February 25, 2016.
The Indian Railway Budget for 2016-17 spared passengers and goods movement from
any increase in tariffs while it announced introduction of three new superfast trains
and creation of dedicated north-south, east-west and east coast freight corridors by
2019.
Presenting his second Budget in the Lok Sabha, Railway Minister Suresh Prabhu
promised rationalising of the tariff structure by undertaking a review to
evolve competitive rates vis-a-vis other modes of transport and to expand
the freight basket as a means of additional revenue mobilisation.
Unlike last year when he tweaked freight rates, Prabhu made no changes
either in passenger fares or freight rates.
The three new superfast trains announced by him include 'Humsafar'
which will be a fully air-conditioned 3AC service with option of meals.
'Tejas' will showcase the future of train travel in India with speeds up
to 130 km per hour with onboard services such as entertainment, local
cuisine and wii.
The two trains will ensure cost recovery through tariff and non-tariff
measures while 'Uday' will be an overnight double-decker along with
'Utkrishit' double-decker air-conditioned yatri express on the busiest
routes.
For improving quality of travel for unreserved passenger, a superfast
'Antyodya' express service would be introduced.
'Deen Dayalu' unreserved coaches with portable water and higher
number of mobile charging points would also be introduced.
He also announced setting up of a Rail Development Authority to enable fair pricing
of services, promote competition, protect customer interest and determine eficiency
standards. The draft Bill in this regard will be ready after holding extensive stakeholder
consultations.
Outlining the Budget estimates for the coming year, the Minister put the plan size at
Rs 1.21 lakh crore.
The focus will be on capital expenditure with a mix of various sources of funding in
order to ensure the projects are given assured funding.
Gross trafic receipts for the coming iscal have been ixed at Rs 1.84 lakh crore with
passenger earning growth pegged at 12.4 per cent and earning target budgeted at Rs
51,012 crore.
@Mahendra’s 2 MASTER IN BUDGET 2016-17
Budget 2016-17, in New Delhi on February 25, 2016.
The Indian Railway Budget for 2016-17 spared passengers and goods movement from
any increase in tariffs while it announced introduction of three new superfast trains
and creation of dedicated north-south, east-west and east coast freight corridors by
2019.
Presenting his second Budget in the Lok Sabha, Railway Minister Suresh Prabhu
promised rationalising of the tariff structure by undertaking a review to
evolve competitive rates vis-a-vis other modes of transport and to expand
the freight basket as a means of additional revenue mobilisation.
Unlike last year when he tweaked freight rates, Prabhu made no changes
either in passenger fares or freight rates.
The three new superfast trains announced by him include 'Humsafar'
which will be a fully air-conditioned 3AC service with option of meals.
'Tejas' will showcase the future of train travel in India with speeds up
to 130 km per hour with onboard services such as entertainment, local
cuisine and wii.
The two trains will ensure cost recovery through tariff and non-tariff
measures while 'Uday' will be an overnight double-decker along with
'Utkrishit' double-decker air-conditioned yatri express on the busiest
routes.
For improving quality of travel for unreserved passenger, a superfast
'Antyodya' express service would be introduced.
'Deen Dayalu' unreserved coaches with portable water and higher
number of mobile charging points would also be introduced.
He also announced setting up of a Rail Development Authority to enable fair pricing
of services, promote competition, protect customer interest and determine eficiency
standards. The draft Bill in this regard will be ready after holding extensive stakeholder
consultations.
Outlining the Budget estimates for the coming year, the Minister put the plan size at
Rs 1.21 lakh crore.
The focus will be on capital expenditure with a mix of various sources of funding in
order to ensure the projects are given assured funding.
Gross trafic receipts for the coming iscal have been ixed at Rs 1.84 lakh crore with
passenger earning growth pegged at 12.4 per cent and earning target budgeted at Rs
51,012 crore.
@Mahendra’s 2 MASTER IN BUDGET 2016-17
