Friday, 3 February 2017

Rail Budget 2017 - 18 Highlights, Changes & New Train Announcement



Rail Budget

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Indian Rail Budget 2017 – 18 such as Amount & Allocation Analysis, you can check from here. Indian Finance Minister Mr. Arun Jaitely has published a rail budget for the year of 2017. The total budget allocation for Railways from the government end has been pegged at Rs 55,000 crore. No service charge will be applicable for reservations made through the Indian Railways Catering and Tourism Corporation that is announced by finance minister.


Every year, this year to the expectations are high on what will be announced, but let’s get one thing out of the way – it won’t be a regular Railway Budget – that’s the whole idea of merging the two financial statements. New trains are unlikely to be announced. For the Finance Minister, Railways will be just another sector that needs money to propel growth. Jaitley brought a big cheer to railway passengers, when he announced that the service charge on booking of tickets through IRCTC will be removed.

Important Keys

Safety tax
·         One of the very likely ways in which the price of AC-3 tier or 2-tier travel will go up in the coming fiscal would be with the implementation of a safety tax.
·         FM Jaitley wants to collect money as part of the Rashtriya Rail Sanraksha Kosh.
·          This will be a railway safety body that will work to reduce accidents.
·          This comes in the light of back-to-back train derailments that claimed many lives.

Reduction in freight rate
·         There are plans to reduce charges on freight, which holds the largest portion of rail revenue.
·         The idea has been introduced to prevent the clients to move to other modes of transport.

Budgetary support
 It is believed that, in order to meet part of its capital expenditure, Railways may also get budget support, and may also be allowed to raise extra budgetary sources.


Private participation
·         It suggests that the Narendra Modi government is looking at a proposal to allow private players to run rail network on the lines of the airport leasing model.
·         The government weighing the proposal that will allow private operators to run trains using government tracks and stations.
·         The government is keen to allow private players in crore rail activities.
·         The move to consider such a step comes in the backdrop of the fact that freight traffic is down and cannot be relied on anymore to subsidise passenger fares, the channel reported.

Highlights of Rail Budget
·         A Rail safety fund+ with a corpus of Rs 100,000 crore will be created over a period of 5 years
·         The service charge on rail tickets booked through IRCTC will be withdrawn.
·         As many as 500 rail stations will be made differently abled-friendly by providing lifts and escalators.
·         Steps will be taken to launch dedicated trains for pilgrimage and tourism
·         A new metro rail policy will be announced+. This is expected to open up new jobs for the youth
·         At least 25 train stations are expected to be awarded during 2017-18
·         By 2019, all coaches of the Indian Railways will be fitted with bio-toilets
·         Railways will integrate end to end transport solutions for selected commodities through partnerships
·         Unmanned railway level crossings to be eliminated by 2020
·         A 22% rise in the Railways Budget was announced.


Announcement about Indian railways
·        FM Jaitley said that the total capital and development outlay for Indian Railways will be Rs 1.31 lakh crore, out of which the government will provide Rs 55,000 crore.
·         Announcement for Indian Railways focused on four broad themes; safety, capital and development focus, financial accounting reforms and Swachhh railways.
·         The Rashtriya Rail Sanraksha Kosh has been proposed with a corpus of Rs 5 lakh crore over a period of 5 years.
·         There are proposals to introduce dedicated trains for tourism, remove unmanned level crossings, and install bio-toilets in all coaches by 2019.
·          Jaitley said that attempts will be made to improve Indian Railways operating ratio.

Important link
To get further information regarding to Rail Budget 2017-18 you can read from official site.


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