In a populist move, the Union Railway Minister in the interim railway budget has left fares unchanged and announced 72 new trains across the country.
With the General election 2014 round the corner, the move is expected to please the people. The presentation by Mallikarjun Kharge, union railway minister, who was presenting his maiden budget, was mired by an uproar in the parliament over Telegana
Here are the key highlights from the Interim Railway Budget 2014
- Passenger fares remain unchanged.
- Freight rates have also been left untouched.
- The Railway Minister has also announced that there will be 72 new trains, of which 17 will be premium trains and 38 passenger trains.
- Indian Rail Finance Corporation will raise ₹12,800 crore from the market in FY15.
- The Railway Ministry is looking at a turn-over of ₹6,005 crore coming through Private-public partnership projects in the upcoming year.
- Gross Traffic receipts for FY15 are estimated at ₹1.61 crore.
In his budget speech, the Railway Minister also presented a report card of the Indian Railway under his tenure.
- Electrification of 4,556 km of line.
- Successfully met 6th pay panel recommendations.
- Completed doubling gauge of 2,227 km of railway line.
- FY14 plan outlay revised to ₹59,359 crore.
- Fund balances likely to be ₹12,728 crore versus ₹8,000 Cr (YoY)