Main Points of Railway Budget 2016-17

Main Points of Railway Budget 2016-17

Rail Budget 2016-17

Union Railway Minister Suresh Prabhu presented his second railway budget i.e., Railway Budget 2016-17 in the Parliament on February 25, 2016. This was the third rail budget of Prime Minister Narendra Modi-led NDA government.

Highlights of the Railway Budget 2016-17 Theme of the Budget

  • To overcome challenges, Reorganise, Restructure Rejuvenate Indian Railways : ‘Chalo, Milkar Kuch Naya Karen’.
  • Three pillars of the strategy i.e.,.Nav Arjan (New Revenues), Nav Manak (New Norms), Nav Sanrachna (New Structures).

Financial Target for 2016-17

  • Targeted Operating Ratio (OR) – 92%.
  • Restrict growth of Ordinary Working Expenses by 11.6% after building in immediate impact of 7th PC.
  • Reductions planned in diesel and electricity consumption. Revenue generation targeted at T184820 crore.

Investments and Resources

  • For 2016-17 CAPEX pegged at Rs 1.21 lakh crore; implementation through joint ventures with States, developing new frameworks for PPP, etc.

Targeted Commissioning 2800 Km of Track

  • In 2016-17, commissioning Broad Gauge lines at over 7 km per day against an average of about 4.3 km per day in the last 6 years.
  • It would increase to about 13 km per day in 20J7-18 and 19 km per day in 2018-19.
  • It will generate employment of about 9 crore man days In 2017-18 and 14 crore man days in 2018-19.
  • Outlay for railway electrification increased in 2016-17 by almost 50%; target to electrify 2000 km.

Passenger Fares

  • No new hike in passenger fares and Freight fares. Promised to bring down freight rates and double non-tariff revenue for the ailing national transport.

Improving Quality of Travel

  • For the unreserved passenger Antyodaya Express unreserved, superfast service.
  • Deen Dayalu coaches unreserved coaches with potable water and higher number of mobile charging points.
  • For the reserved passenger, Humsafar, fully air-conditioned third AC service with an optional service for meals.
  • Tejas will showcase the future of train travel in India. It will operate at speeds of 130 km/h and above.
  • It will offer onboard services such as entertainment, local cuisine, WiFi, etc. through one service provider for ensuring accountability and improved customer satisfaction.
  • Humsafar and Tejas to ensure cost recovery’ through tariff and non-tariff measures.
  • Overnight double-decker, Utkrisht Double-Decker Air-conditioned Yatri (UDAY) Express on the busiest routes, has the potential to increase carrying capacity by almost 40%.
Updated: April 21, 2016 — 10:52 am

Most Recent Post

Leave a Reply

Your email address will not be published. Required fields are marked *

Current-Affairs © 2016 Developed by Current Affairs
Please wait...

Subscribe to our newsletter

Want to be notified when our article is published? Enter your email address and name below to be the first to know.
Facebook