Railway Budget 2016: Highlights
Suresh Prabhu presented his second Railway Budget on Thursday
By Forbes India
Last Updated: Feb 25, 2016, 12:32 IST6 min
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Union Railways Minister Suresh Prabhu on Thursday presented his second Railway Budget in Parliament.
Here are some of the key points:
&bull Three pillars of change: New source of revenues, new norms and new structures
&bull Operating ratio in 2016-17 92 percent (90 percent in 2015-16)
&bull Capital Expenditure in 2016-17 at Rs 1.21 lakh crore
&bull Savings through efficient operation in 2015-16 at Rs 8,720 crore
&bull LIC will invest Rs 1.5 lakh crore over next five years
&bull 2,500 km of broad guage line will be commissioned in 2016-17
&bull All civil engineering contracts for dedicated freight corridor will be released soon
&bull 2000 km of lines will be electrified in 2016-17
&bull Two locomotive factories to be set up at a cost of Rs 40,000 crore
&bull Gross budgetary support in 2016-17 at Rs 40,000 crore
&bull Gross freight earning in 2016-17 estimated at Rs 1.8 lakh crore
&bull New deluxe trains announced to ensure better cost recovery
&bull 400 stations will be upgraded through PPP route
&bull Contracts worth Rs 24,000 crore issued since November 2014 as against Rs 13,000 crore in the earlier six years
&bull Annualised savings in 2016-17 estimated at Rs 3000 crore
&bull Two elevated suburban corridors planned for Mumbai
&bull Plans afoot to increase share of non-tariff revenue from present 5 levels through monetizing physical and soft railway assets
&bull National High Speed Rail Corporation will be floated soon
&bull 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)
&bull 13:07 Will partner with state Govt for suburban system in Tech Hub Of Bengluru
&bull 13:06 Detailed policy on suburban ecosystem in 4 months
&bull 13:05 To install Hi-tech centralised Network Of 20,000 screens On 2000 stations
&bull 13:03 Under Clean My Coach passengers can request for coach cleaning Via SMS
&bull 13:02 To introduce a sub-quota Of 33% for women in each of reserved categories
&bull 13:02 All operational haults will be converted in commercial halts
&bull 13:01 Introduce Antyodaya Express, superfast train for long routes
&bull 12:59: Increased outlay for railway electrification by almost 50%
&bull 12:59:Looking forward to set up a fund with multilateral assistance for financing railway projects
&bull 12:58: Aim to install bio toilets at stations
&bull 12:58: Will use bar coded tickets and scanners on pilot basis on some stations
&bull 12:58: Will add Deen Dayalu coaches for some long distance trains
&bull 12:55 Introduce Utkrisht Double-Decker Yatri Express to up capacity by 40%
&bull 12:55 Plan to set up a new fund for financing projects
&bull 12:54 Annualised savings Of Rs 3000cr to be achieved in FY17
&bull 12:49 17,000 Bio-toilets in Trains and additional toilets at 475 stations by FY16-end
&bull 12:47 Will commission 9 km/day of broad gauge lines in FY18 and 13km/Day in FY19
&bull 12:46 Contracts Of Rs 24000 Cr awarded since Nov 2014 Vs Rs 13000cr in last 6 Yrs
&bull 12:45 All contracts for civil engineering works to be awarded soon
&bull 12:44 Cabinet has approved redevelopment Of 400 Stations Via PPP Mode
&bull 12:43 Plan to provide Wifi at 400 stations over next year
&bull 12:43 Plan to establish wi-fi services in 100 more stations this year
&bull 12:43 Redeveloping stations using different models
&bull 12:42 Dedicated freight corridors are gaining momentum
&bull 12:42 Have made an unique attempt to combine cleanliness with creativity
&bull 12:42 All major stations to have CCTVs in phased manner
&bull 12:41 Have entered into technical partnerships with leading global institutions to improve operations
&bull 12:41 Railway university is being set up at Vadodra
&bull 12:41 Want to change the thinking of increasing revenue via tariff hike
&bull 12:40 Will take zero-base budgeting approach
&bull 12:39 Targeted operating ratio at 92% inclusive of impact of 7th Pay Comission
&bull 12:38 FY17 gross budgetary support seen at Rs 40,000 cr
&bull 12:37 Propose to set up 3 Freight Corridors
&bull 12:36 Will set up 2 Locomotive Factories at the cost Of Rs 40,000Cr
&bull 12:34 Pension spending in FY17 targetted at Rs 45,500Cr
&bull 12:33 Making all out efforts to translate Govt's vision into reality
&bull 12:31 Savings to offset shortfall in revenue this Fiscal
&bull 12:29 FY17 Plan spending target at Rs 1.21 Lakh Cr, up 21% YoY
&bull 12:28 FY17 gross traffic revenue target at Rs 1.85 Lk Cr, up 10% YoY
&bull 12:27 Will tap rupee bond market overseas to raise funds
&bull 12:26 FY17 goods earnings target at Rs 1.18 lakh cr
&bull 12:25 Propose to electrify 2,000 km of Railway lines in FY17
&bull 12:22 FY17 passenger revenue target at Rs 51,012cr, up 12.4% YoY
&bull 12:19 LIC as agreed to fund Rs 1.5 lakh cr over next 5 years
&bull 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
First Published: Feb 25, 2016, 12:32
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