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LIVE: Rail Budget 2016 -2017

 2016-02-25 06:47:02.0

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�Delhi :Railway minister Suresh Prabhu is presenting his second budget.

For year 2016-17 we expect the operating ratio of 92%.

This budget will document a journey of transformation and journey of nation.

Core objective is to become an engine of employment generation and economic growth at national level.

We are facing two headwinds: tepid growth of our economy�s core sectors, increased productivity bonus payouts.

We hope to generate revenues of order of Rs.1,84,820 cr next year, 10.1% higher than revised target of current year.

The vision is Railways must provide people rail system they can be proud of.

�In 2016-17, the capital plan will be Rs. 1,21,000 crore.

�A saving of Rs. 8,720 crore for Budget estimates of last year will be effected this year.

�Co-operation, collaboration and communication, are the hallmarks of Indian Railways's journey forward.

�We'll win back our share in transportation sector. Every asset to be optimally monetised.

�For year 2016-17 we expect the operating ratio of 92%. What is operating ratio?

It is a financial ratio used for large industries to define operating expenses as a percentage of revenue.

Railways will generate employment of 14 crore man-days in 2018-2019.

�By 2020, we'll have time-tabled freight trains.

LIC has agreed invest Rs. 1.5 lakh crore over 5 years on extremely favourable terms.

�Dedicated freight corridor project gaining momentum.

We are poised to commission broad gauge lines at the rate of 7 km per day against 4.5 km over last five years.

We have started recruitment process online for Railways to bring 100% transperancy.

We have finalised bids for setting up 2 locomotive factories. New factories to be set up with an order book of Rs. 40,000 crore.

�Indian Railways to surpass ambitious target of commissioning 2500 kms of broad gauge lines, almost 30% higher than last year.

�Every Rupee in investment in Railways has the capacity to increase economy wide output of Rs. 5.

�New freight corridors announcedDelhi-Chennai, Kharagpur-Mumbai, Kharagpur-Vijayawada.

The common people have always been the focus of all our initiatives.

1,600 km of electrification this year and 2,000 km proposed for the next year.

We will introduce WiFi services at 100 stations this year, 400 more stations over next two years.

Walls of many stations have been converted to murals, also contributing to social awareness.

�A single accident or loss of a single life causes me great sorrow and anguish.

More than 1 lakh telephone calls are made everyday to seek inputs from passengers.

�All stations will be brought under CCTV surveillance.

World's first Bio-vacuum toilet developed by Indian Railways is being used in Bibrugarh Rajdhani express.

We will introduce bar-coded tickets.

The companies owned by Railways to come under a holding company.

Two dedicated freight corridors by 2019.

�I'm setting aside Rs. 50 crore for providing innovation grants to start-ups.

No hike in railway fares.

Suresh Prabhu concludes his rail budget speech.

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