Railway Budget proposes Rs60,000 crore outlays
The Railway Budget presented by Minister of Railways Dinesh Trivedi in Parliament today seeks to raise investment in modernization and upgradation of rail infrastructure. It gives very high priority to rail safety and security. Presenting the Railway Budget 2012-13 in Parliament today, Trivedi proposed a Budget with highest ever plan outlay of Rs60,100 crore, which provides Rs6,872 crore for new railway lines and significant funds for passengers safety, security and amenities.
In this Budget, the Railway Minister has focused on five important fields, which are: Safety; Consolidation; Decongestion & Capacity Augmentation; Modernization; and to bring down the Operating Ratio from 95 per cent to 84.9 per cent in 2012-13.
In the Railway Budget, the Minister has proposed 75 new Express trains, 21 new passenger services, 9 DEMU services and 8 MEMU services. Trivedi also announced the extension of the 39 trains; increase in the frequency of 23 trains; 75 additional services to run in Mumbai suburban; 44 new suburban services to be introduced in Kolkata area; 50 new services to be introduced in Kolkata Metro; and 18 additional services to be run in Chennai area.
Proposing highest ever plan outlay for the Railway Budget, the Railway Minister said that it will be financed through Gross Budgetary Support (GBS) of Rs24,000 crore; Railway Safety Fund of Rs2,000 crore; internal resources of Rs18,050 crore; and Extra Budgetary Resources of Rs16,050 crore, which includes market borrowing of Rs15,000 crore through IRFC.
The Railway Budget provides for 725 km new lines; 700 km doubling; 800 km gauge conversion and 1,100 km electrification. The Ministry has provided Rs 6,872 crore for new lines; Rs3,393 crore for doubling; Rs1,950 crore for gauge conversation and Rs828 crore for electrification.
The Railway Minister also announced that an Indian Railway Station Development Corporation will be set up to redevelop stations through PPP mode. He also announced that a Logistics Corporation will be set up for development & management of existing railway goods sheds and multi-modal logistics parks. A National High Speed Rail Authority is also to be set-up.
Highlighting the efforts being made to improve the amenities and to provide better experience to the passengers at stations the Railway Minister said that 929 stations will be upgraded as Adarsh Stations including 84 stations proposed in 2012-13.
The Railway Minister announced that pre-feasibility studies on six high speed corridors have already been completed and study on Delhi-Jaipur-Ajmer-Jodhpur will be taken up in 2012-13.
The Minister announced that freight loading during 2012-13 is expected to be 1,025 MT which will be 55 MT more than 2011-12. The passenger growth during the year is pegged at 5.4 per cent.