Union Minister for Indian Railways Lalu Prasad Yadav presented the Interim Railway Budget for the first four months of the financial year 2009-10 in Parliament and with an eye on the upcoming Lok Sabha elections, made many popular announcements.
Yadav also announced that there will be 43 new trains and an all over India 2% cut in fares of ordinary and AC class.
INTERIM RAILWAY BUDGET 2009-10 highlights are as follows
Review of Financial Performance during the year 2008-09
Freight loading target retained at 850 mt; number of passengers likely to grow by around 7% over previou s year.
Implementation of recommendations of VI Central Pay Commission (CPC) likely to cost the Railways Rs 9,000 cr more on staff costs and Rs 4,500 cr more on pensionary charges as compared with previous year.
Hence, Ordinary Working Expenses (OWE) increased to Rs 55,000 cr in the R.E and the appropriation to Pension Fund to Rs 10,500 cr.
Appropriation to DRF retained at Rs 7,000 cr.
Dividend payable to General Revenues kept at Rs 4,711 cr.
Cash surplus before dividend projected at Rs 19,320 cr and the Operating Ratio at 88.3% despite implementation of the VI CPC.
Revised plan outlay kept at Rs 36,773 cr.
Performance Review
The number of consequential accidents came down to 194 in 2007-08.
Agartala, the capital of the Tripura, connected by railway line. First train service in Kashmir valley commenced between Anantnag and Rajwansher. To be followed by Baramulla and Qazigund.
Successful trials completed for running electric locomotives with OHE at a height of about 7.5 mts in preparation for running double stack containers on electrified Western Dedicated Freight Corridor
Work on Eastern Dedicated Freight Corridor commenced near Dehri-on–Son on 10th February,2009. Work on Western DFC to commence this month.
Budget Estimates 2009-10
Freight loading targeted at 910 mt – an increment of 60 mt on 2008-09; number of passengers likely to grow by around 7%.
Gross Traffic Receipts estimated at Rs 93,159 cr i.e. Rs 10,766 cr more than RE 2008-09.
Ordinary Working Expenses budgeted at Rs 62,900 cr to cover the full year impact of VI CPC and the payment of 60% arrears due in 2009-10.
Dividend payable to General Revenues kept at Rs 5,304 cr at the current applicable rates.
Budgeted Operating Ratio 89.9%.
Plan outlay kept at Rs 37,905 cr.
Passenger Services
43 new train services to be started in 2009-10, extension of 14 trains envisaged and frequency of 14 trains to be increased.
Others
With a view to facilitate improved train operations, it has been decided to set up two new railway divisions at Bhagalpur and Thawe.
25 surveys proposed comprising 14 for new lines, 3 for gauge conversion and 28 for doubling projects.
Pre-feasibility study for running high speed bullet trains being pursued.
Construction of Rail Wheel Factory, Chapra on in full swing; Work on diesel and electric locomotive factories at Marhoura and Madhepura targeted for early start.
Bharat Wagon Limited, Mokama & Muzaffarpur transferred to Ministry of Railways; transfer of wagon units of Burn Standard at Burnpur and Howrah also under consideration on the same lines.
Reduction in Tariffs
Reduction in passenger fares of ordinary passenger trains by one rupee for fares costing up to Rupees fifty per passenger for journey above ten kms.
Second class and sleeper class fares of all Mail/Express and ordinary passenger trains to be reduced by 2 per cent for tickets costing Rupees fifty and more per passenger.
Fares of AC First Class, AC II tier, AC III tier and AC Chair Car also to be reduced by two per cent.
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