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Wednesday, March 14, 2012

Rail Budget FY 2013 in a Nutshell

The rail budget started on a positive note giving a thrust on safety followed by modernization and other important aspects like consolidation of the system and reduction of operating ratio to 84%.
And to achieve the aforesaid objectives railway minister came with marginal passenger fair hike which remained static for past 10 years. It was a right step to ensure the development of railway services. Rate hike is between 2-30 paisa per kilometer of travel- 2 paisa raise for suburban travel and 30 paisa hike for AC first commuters and other fare hikes falling in between.
Another innovative proposal was to link fair with the fuel prices which was need of the hour.
During post-independence days railway enjoyed 90% shares of total cargo which has come down below 30 % these days and expansion of rail network is the only remedy to compensate for this decline.
To expand rail network funds are required and government alone can’t provide funds for it and the same can’t be done without PPP (public private partnership).
A SPV shall be brought to eliminate un-manned gates in next 5 years as 40 % of rail related accidents happens at these gates.
A great emphasis on safety was perceivable with rail minister desired for zero death per million passenger which is presently at .17 a way down from .55 earlier.
It was   heartening that Indian railway is pursuing recommendations of Kakodkar and Pitroda committees.

Highlights of the rail budget FY 2013
(1)    Creation of logistic corporation to cater for  logistic related issues
(2)    All meter and narrow gauge lines to be converted to broad gauge barring ones with heritage lineage
(3)    Emphasis on GPS in railways
(4)    Introduction of double Decker container trains
(5)    To create 1000 new stations under PPP
(6)    Investment of Rs. 5.6 lakh crore towards modernization
(7)    Target of 2 % of contribution to the GDP from present 1%
(8)    Railway expects gross budgetary support of Rs.24,000 crore during 12th 5-year plan vs. need of Rs. 45,000 crore
(9)    Freight earning target of 89,000 crore for FY 13
(10)Rs. 39,000 crore to be spent on modernization of  signaling systems
(11)75 new express trains and 21 new passenger trains
(12) 1 lakh new recruitments in FY 13


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