Highlights of Rail Budget 2011-12

Highlights of Rail Budget 2011-12 Union Railway Minister Mamta Banerjee on February 25, 2011 presented her third consecutive railway budget in the Parliament. Budget, having theme ‘Aam Aadmi’ proposes no hike on passenger fares and freight rates. BUDGET HIGHLIGHTS: ● No increase in passengers fares or freight rates. ● Earnings for 2010-11 set to exceed Rs. 1 lakh crore. ● Working expenditure during 2011-12 estimated at Rs. 87,000 crore. ● Outlay of Rs. 57,630 crore for 2011-12, the highest investment in one year. ● Rs. 10,000 crore to be raised through railway bonds. ● Budget combines strong economic focus with inclusion. ● Will develop business-oriented policies to aid industry. ● 85 public-private partnership proposals received. ● Single-window system to take the forward. ● Decided to set-up rail-based industries. ● Passing through a difficult phase. ● 97 per cent increase in expenditure in 2010-11 due to implementation of Sixth Pay Commission report. ● Loss of Rs. 3,500 crore in 2010-11. ● Ten-year backlog of 1•75 lakh jobs being addressed; 16,000 ex-servicemen to be given jobs in railways. ● Safety first priority; accident rate has come down. ● Anti-collision device, successful in North West Frontier Railway, to be extended to three more zonal railways. ● Railways always been a soft target but law and order a state subject. If railways are blocked in one region, this has a snowballing effect in other parts of the country. ● Will add 180 km of rail lines in 2011-12. ● All-India security helpline set up. ● Centre for excellence in software to be set up at Darjeeling. ● Fund to be created for socially desirable projects. ● Rail linkage to Gujarat from Delhi-Mumbai freight corridor. ● Integrated suburban network to be set up in Mumbai, Chennai, Ahmedabad and other cities; suburban system of Hyderabad to be strengthened. ● Mumbai suburban system’s EMU coaches to be increased from 9 to 12. ● Pradhan Mantri Rail Vikas Yojana to be launched. ● Industrial park to be set up in Nandigram, West Bengal. ● Railways to set up factory in Jammu and Kashmir. ● To set up Metro coach factory at Singur, West Bengal. ● Work on upgrading 442 stations to be completed by March 31. ● Work on wagon factory in Orissa to begin after land is acquired. ● Manipur capital Imphal to be soon connected to railway network.

Posted in: Indian Economy