New Delhi: There has been no hike in passenger fare and freight charges in the Interim Budget announced by finance minister Piyush Goyal Friday, which also saw the highest ever capital expenditure allocation of `1.58 lakh crore for the national transporter.
With Lok Sabha elections slated to be held in April-May, hikes in fares were not expected. Last year, then finance minister Arun Jaitley had allocated an amount of `1.48 lakh crore for the Railways in his budget.
Goyal, who is also the railway minister, said so far 2018-2019 has been the safest for the Indian Railways and all unmanned level crossings on the broad gauge network have been completely eliminated.
Capital expenditure programme of the railways is at all-time high of `1.58 lakh crore in next financial year. Vande Bharat Express, indigenously developed semi-high speed train, will give Indian passengers world class experience.
The budget estimates under revenue for the year 2019-20 (gross) is `2,72,705.68 crore, recording an increase of `22,854.67 crore over the revised estimates of `2,49,851.01 crore for 2018-19.
In the budget, funds of `7,255 crore have been allocated for construction of new lines, `2,200 crore for gauge conversion, `700 crore for doubling, `6,114.82 crore for rolling stock and `1,750 crore for signalling and telecom.
Goyal also announced that the operating ratio for the current fiscal has improved to 96.2 per cent, and in the next financial year the aim will be to lower it to 95 per cent. The planned expenditure would be a 148 per cent hike from the levels of 2014. Developing passenger amenities has been allocated a sum of `3,422 crores which is an additional outlay of around `1,000 crore for the comfort of rail users.
Bar & Bench
It is a happy augury for Indian democracy that the country's young talents aspiring to join the legal profession have...
Read moreDetails
