Railway Budget 2016-17

Railway Budget 2016-17
Railway Budget 2016-17
Railway Minister Suresh Prabhu announced a sharp rise in plan outlay for the next financial year.
 he said that for this budget he owes its inspiration to vision of PM Modi who said: "My vision is to make railways backbone of India’s progress & economic development."

Here are some big Points from Mr Prabhu's rail budget :

1) Rs. 1.5 lakh crore will be funded by state-run LIC over the next five years towards railways' modernisation plan. LIC will lend the money at favourable terms, Mr Prabhu said.

2) Railways is aiming to hit revenues of Rs. 1.84 lakh crore during 2016-17 financial year.

3) Rs. 1.21 lakh crore will be spent on capital expenditure by railways during 2016-17, a 20 per cent hike in plan outlay over last year.

4) Railways will get Rs. 40,000 crore during 2016-17 as budgetary support from the central government. Last year, Finance Minister Arun Jaitley had provided Rs. 40,000 crore for railways, but this amount was cut by a fifth after railways failed to spend money in time.

5) Focus to Swacch Bharat Scheme,17,000 bio-toilets and additional toilets to be provided by end of this Fiscal Year.

6) Railways will save Rs. 8,720 crore in 2015-16 on account of lower fuel and electricity costs.

7) 2,800 km of new tracks will be commissioned during 2016-17, much higher than the average of 200 km of tracks added per year since independence.

8) Railway electrification to be increased by 50 per cent to 2,000 km route during FY17.

9) Rs. 30,000 crore is the loss on subsidising passenger fares during 2015-16 financial year.

10) Make in India: Railways will build two new locomotive factories at cost of Rs. 40,000 crore.

11) Operating ratio kept at 92% FY17 as against 90% in current year.

12) To generate revenues of order of Rs.1,84,820 cr next year which is a 10.1% higher than revised target of current year.

13)  North-East India, especially Mizoram and Manipur, to be connected through broad gauge soon.

14) Rs 8.5 lakh crore to be spent over 5 years for modernization of railway infrastructure

15) 2 locomotive factories at the cost of Rs 40,000 crore to be set up.

16)  Overnight double-Decker train Uday Express to be introduced on busiest routes which will       increased carrying capacity with 40% more.

17) Three direct services, fully air-conditioned Humsafer, to travel at 130km per hour will be starting this year.

18)  Lower berth quota for senior citizens to be increased by 50%

19) 33% of sub-quota for women in each of the reserved categories will be introduced.

20)  Railways announces measures for women security: All India 24X7 helpline, CCTV surveillance, reserved middle bay in coaches. WiFi in 100 stations this year and 400 other stations next year.

21) Completely paperless contract system in 2016-17

22) New freight corridors announced: Delhi-Chennai, Kharagpur-Mumbai, Kharagpur-Vijayawada.

23) Enhanced capacity of e-ticketing system - from 2000 tickets a minute to 7200 a minute (to support 120,000 concurrent users).

24) 44 new projects valued at Rs 92,714 crore to be implemented this year

25)  17 states agree to form JVs with Indian Railways for construction of rail-over-bridges

26) To introduce 20,000 screen rail display network for passing info to passengers and huge advertising potential

27) Railways will partner with the Govt. of TN for developing suburban network in Chennai through innovative financing methods.

28) Ring Railway to be redeveloped in partnership with the Delhi government.

29) Elevated rail corridors from Church gate to Virar and CST to Panvel on the cards.

30) In-principle approval from 17 States to form joint ventures.

Railway Budget 2016-17 Railway Budget 2016-17 Reviewed by SSC IBPS on 19:57:00 Rating: 5
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