Railway Budget 2016: Highlights

Union Railways Minister Suresh Prabhu on Thursday presented his second Railway Budget in Parliament.

Here are some of the key points:

•    Three pillars of change: New source of revenues, new norms and new structures

•    Operating ratio in 2016-17 92 percent (90 percent in 2015-16)

•    Capital Expenditure in 2016-17 at Rs 1.21 lakh crore

•    Savings through efficient operation in 2015-16 at Rs 8,720 crore

•    LIC will invest Rs 1.5 lakh crore over next five years

•    2,500 km of broad guage line will be commissioned in 2016-17

•    All civil engineering contracts for dedicated freight corridor will be released soon

•    2000 km of lines will be electrified in 2016-17

•    Two locomotive factories to be set up at a cost of Rs 40,000 crore

•    Gross budgetary support in 2016-17 at Rs 40,000 crore

•    Gross freight earning in 2016-17 estimated at Rs 1.8 lakh crore

•    New deluxe trains announced to ensure better cost recovery

•    400 stations will be upgraded through PPP route

•    Contracts worth Rs 24,000 crore issued since November 2014 as against Rs 13,000 crore in the earlier six years

•    Annualised savings in 2016-17 estimated at Rs 3000 crore

•    Two elevated suburban corridors planned for Mumbai

•    Plans afoot to increase share of non-tariff revenue from present 5 levels through monetizing physical and soft railway assets 

•    National High Speed Rail Corporation will be floated soon

•    National Rail Plan will be announced to ensure synergy in seamless multimodal transport system across the country

Quick reaction:

"The budget comes out to be focused on consolidation rather than expansion. Therefore the budget has focused on key issues plaguing the railways which are customer experience, increasing efficiency, network decongestion, improving safety, improving stations, increasing revenues and increasing availability. It also gave a push to projects that will lay the foundation of next generation railways, which is primarily High Speed Railway, popularly referred to as bullet trains. Overall a mature rail budget that balances much needed investments with the revenue and funding constraints"

- By Jaijit Bhattacharya, Partner – Infrastructure and Government Services, KPMG in India

Minute-by-minute updates (Powered by CNBC-TV18)

•  13:07 Will partner with state Govt for suburban system in Tech Hub Of Bengluru
 
•  13:06 Detailed policy on suburban ecosystem in 4 months
 
•  13:05 To install Hi-tech centralised Network Of 20,000 screens On 2000 stations
 
•  13:03 Under Clean My Coach passengers can request for coach cleaning Via SMS
 
•  13:02 To introduce a sub-quota Of 33% for women in each of reserved categories

•  13:02 All operational haults will be converted in commercial halts

•  13:01 Introduce Antyodaya Express, superfast train for long routes

•  12:59: Increased outlay for railway electrification by almost 50%

•  12:59:Looking forward to set up a fund with multilateral assistance for financing railway projects

•  12:58: Aim to install bio toilets at stations

•  12:58: Will use bar coded tickets and scanners on pilot basis on some stations

• 12:58: Will add Deen Dayalu coaches for some long distance trains

•  12:55 Introduce Utkrisht Double-Decker Yatri Express; to up capacity by 40%

•  12:55 Plan to set up a new fund for financing projects

•  12:54 Annualised savings Of Rs 3000cr to be achieved in FY17

•  12:49 17,000 Bio-toilets in Trains and additional toilets at 475 stations by FY16-end
 
•  12:47 Will commission 9 km/day of broad gauge lines in FY18 and 13km/Day in FY19
 
•  12:46 Contracts Of Rs 24000 Cr awarded since Nov 2014 Vs Rs 13000cr in last 6 Yrs
 
•  12:45 All contracts for civil engineering works to be awarded soon
 
•  12:44 Cabinet has approved redevelopment Of 400 Stations Via PPP Mode
 
•  12:43 Plan to provide Wifi at 400 stations over next year
 
•  12:43 Plan to establish wi-fi services in 100 more stations this year
 
•  12:43 Redeveloping stations using different models
 
•  12:42 Dedicated freight corridors are gaining momentum
 
•  12:42 Have made an unique attempt to combine cleanliness with creativity
 
•  12:42 All major stations to have CCTVs in phased manner
 
•  12:41 Have entered into technical partnerships with leading global institutions to improve operations
 
•  12:41 Railway university is being set up at Vadodra
 
•  12:41 Want to change the thinking of increasing revenue via tariff hike
 
•  12:40 Will take zero-base budgeting approach
 
•  12:39 Targeted operating ratio at 92% inclusive of impact of 7th Pay Comission
 
•  12:38 FY17 gross budgetary support seen at Rs 40,000 cr
 
•  12:37 Propose to set up 3 Freight Corridors
 
•  12:36 Will set up 2 Locomotive Factories at the cost Of Rs 40,000Cr
 
•  12:34 Pension spending in FY17 targetted at Rs 45,500Cr
 
•  12:33 Making all out efforts to translate Govt's vision into reality
 
•  12:31 Savings to offset shortfall in revenue this Fiscal
 
•  12:29 FY17 Plan spending target at Rs 1.21 Lakh Cr, up 21% YoY
 
•  12:28 FY17 gross traffic revenue target at Rs 1.85 Lk Cr, up 10% YoY
 
•  12:27 Will tap rupee bond market overseas to raise funds
 
•  12:26 FY17 goods earnings target at Rs 1.18 lakh cr
 
•  12:25 Propose to electrify 2,000 km of Railway lines in FY17
 
•  12:22 FY17 passenger revenue target at Rs 51,012cr, up 12.4% YoY
 
•  12:19 LIC as agreed to fund Rs 1.5 lakh cr over next 5 years
 
•  12:15 Target FY17 operating ratio of 92%; will achieve 90% in FY16 

12:12 Expect saving of Rs 8720 cr in FY16: Railway Minister

12:10 We are going through challenging times

12:09 Making all out efforts to translate Govt vision into reality

12:08 This is the Budget that reflects aspiration of common citizens: Railway Minister

11:56 Railway Minister Suresh Prabhu presents Rail Budget 2016

11:40 Railway Minister arrives at Parliament to present Rail Budget 2016

11:26 Will try to fulfill people expectations from Rail Budget: Railway Minister

11:19 Expect 7-8% margins from Railway Orders: Richa Industries

11:09 People have huge expectations from Rail Budget: Railway Minister

09:35 Railway Minister Suresh Prabhu to present Rail Budget today

19:00 Key challenges before Railway Minister: Improve service standards, control expenditure, raise revenue

19:00 Targeted operating ratio for 2015-16 at 88.5 percent, compared to 91.8 percent in 2014-15

18:59 Last year, Railways had announced plan to invest Rs 8.56 lakh crore over 2015-19

16:58 Railway Budget expected to unveil massive capacity enhancement

16:57 Rail Budget 2016: Show political will and raise rail passenger fare, says Assocham

11:30 The Railways has earned Rs. 136,079.26 crore as against target of Rs. 141,416.05 crore, a decline of 3.77 percent

11:30 Railway Minister Suresh Prabhu is expected to give details of his resource mobilisation plan in Rail Budget 2016-17

11:30 The Rail Budget is expected to focus on capacity creation in rail sector with an increased outlay of about Rs. 1.25 lakh crore