Railway Budget 2016 highlights: 'Core objective is to grow, create jobs, provide service'
This is Suresh Prabhu's second Rail Budget since taking charge of the ministry.
This is Suresh Prabhu's second Rail Budget since taking charge of the ministry.
Union railway minister Suresh Prabhu is all set to unveil his second Rail Budget since taking charge of the Railway Ministry. Prabhu’s speech will be screened live across railway stations in the country.
Prabhu is expected to unveil a slew of measures to raise additional funds. “The Rail Budget will be in the interest of the nation and railways,” Prabhu told reporters on Wednesday.
Here are the latest updates:
11.15 am: Suresh Prabhu on his arrival at the Rail Bhawan, told reporters that he was hopeful that his Ministry will be successful in addressing the needs and aspirations of people of country.
11.30 am: Suresh Prabhu along with MoS Railways Manoj Sinha reached the Parliament to present his second Railway Budget. 12.05 pm: This is not my budget but this is a budget that reflects the aspirations of families in India, said Suresh Prabhu as he started his Railway Budget presentation. This budget owes inspiration to vision of PM Modi who said ‘My vision is to make railways backbone of India’s progress and economic development. 12.07 am: This budget reflects the aspirations of common man. Rail budget2016 is a story of transformation. These are challenging times, may be one of toughest but we wouldn't be marred by them. 12.10 am: Focused on increasing revenues, will exploit new sources of revenue, introduction of new norms to ensure optimal productivity.WATCH: Suresh Prabhu and MoS Railways Manoj Sinha arrived at Parliament carrying #RailBudget2016 documentshttps://t.co/wmmytHYFAq
— ANI (@ANI_news) February 25, 2016
12.11 am: For year 2016-17 we expect the operating ratio of 92 per cent. Rs. 8720 crore saved from the last year's budget estimate.
12.15 pm: We will be at the forefront of infrastructure investment in the country. Our investment will be close to the double of previous years, a feat never achieved before. We need to reorganise and rejuvenate the Indian Railways. We need to re-imagine conventional ways of solving issues. We will focus on zero based budgeting approach.
12.17 pm: Rail Budget's 3 Rs are-restructure, reorganize and rejuvenate.
12.18 pm: I'm happy to announce that action has been initiated on 139 budget announcements made last year. Action initiated to look into the prevailing loopholes in the system, bankable railway projects are assured of funding.
12.20 pm: Expect revenue growth of over 10% this year. Indian Railways to surpass ambitious target of commissioning 2,500 kms of broad gauge lines, almost 30% higher than last year.
12.23 pm: North-East is an important part of the country, connectivity will be increased in the north eastern sec of the country as well.
12.24 pm: By 2020, high end technology to significantly improve safety record.
#LIVE: Every Rupee in investment in #Railways has the capacity to increase economy wide output of Rs.5: Suresh Prabhu
12.25 pm: Every rupee in investment in Railways has the capacity to increase economy wide output of Rs 5.
12.26 pm: New locomotive factories to be set up with an order book of 40,000 crore rupees. Our motive is to ensure 100 percent transparency, social media is being used as a tool to improve transparency.
12.34 pm: Railway stations to be renovated under PPP model. We will formulate a framework where net saving from electrification will be able to finance capital expenditure.
12.35 pm: Introduced WiFi in 100 stations this year. Plan to introduce WiFi to 400 stations over the next 2 years. Introduced 1,780 automatic ticket vending machines, mobile apps, GoIndia smart cards for cashless purchase of UTS and PRS ticket.
12.35 pm: On 'Make in India', we've bid for 2 locomotive companies with order book of Rs 40,000 crore.
12.36 pm: We call for social organizations' participation to beautify our stations.
12.37 pm: Increased quota of lower berths in coming financial year. We are increasing senior citizen quota/coach by 50 per cent.
#LIVE: Full fledged university for railways studies will be launched in Vadodra: Suresh Prabhu #RailwayBudget
12.40 pm: We have identified the national academy of Indian railways at Vadodara as the first institution which will be upgraded to a full-fledged rail university. 12.41 pm: 33% quota for women for railway reservation purposes.
12.42 pm: Overnight double-decker \"Uday\" expresses to be introduced on busiest routes.
12.43 pm: Sab ka saath, sab ka vikaas, is not merely a slogan for us. Every customer is our brand ambassador.
12.44 pm: Overnight double-decker \"Uday\" expresses to be introduced on busiest routes. 12.45 pm: Will introduce bar-coded tickets. e-booking on concession passes for journalists to be introduced.
12.46 pm: Mandatory catering services will be available in trains. Mothers with infants will be provide hot water and milk powder.
12.47 am: Online booking of wheelchairs enabled. GPS services inside coaches, increased number of information boards.
12.51 pm: Porters will have new uniforms, we will train them and refer to them as 'sahayaks', not coolies. 12.52 pm: Two apps will integrate all services:1 for ticketing and the other for grievances 12.55 pm: Propose to invite FM radio stations to provide train-borne entertainment via PA systems.
12.56 pm: Railside logistics parks and warehouses to be created in PPP mode. 12.57 pm: Country's first Rail auto hub to be set up in Chennai to tap automobile sector. #LIVE: Aastha circuit to connect primary pilgrim centres: Suresh Prabhu #RailBudget2016
12.58 pm: Aastha circuit to connect primary pilgrim centres.
1.00 pm: Will partner with Gujarat, Telangana and Tamil Nadu for developing suburban section in Ahmedabad, Hyderabad and Chennai by innovative financing mechanism. 1.02 pm: An independent regulation mechanism -- Rail development authority -- is necessary for which the draft is ready. 1.03 pm: Intend to give special focus on exploring advertisement potential. 1.04 pm: 'Clean My Coach' service through SMS on Pan-India basis. Deendayal coaches in long-distance trains for unreserved travel. 1.05 pm: Intend to use drones and GPS for monitoring physically remote projects.
1.07 pm: A sum of Rs 50 crores has been set aside for innovation grants. 1.09 pm: Foreign Rail Technological Cooperation scheme to be formulated for technological up-gradation.
1.10 pm: No changes in passenger fares and freight rates in Railway Budget for 2016-17. Railways to borrow Rs 18,580 crore in 2016-17 fiscal.