Rail Budget 2014 News

The Narendra Modi government's maiden Rail Budget will be discussed by both Lok Sabha and Rajya Sabha on Monday.

It is a budget "high on promises but low on design," the agency said.

Several measures announced in the Rail budget such as enhanced port connectivity and setting up of private freight terminals will enhance auto industry's utilisation of railways for vehicle transportation and reduce cost of operations, industry body SIAM Tuesday said.

Scouting for resources to meet its fund crunch, Railways is open to the idea of even 100 percent FDI in its infrastructure development but would keep train operations out of its ambit.

As smart cards are increasingly becoming popular among the people, the Railways has now launched Go-India Smart Card.

In a move aimed at improving efficiency of the Railways, the government Tuesday announced the decision to separate the "unwieldy" Railway Board's functions of policy formulation and implementation.

Share prices of companies that cater to the railway sector plunged as much as 20 percent on Tuesday due to profit-booking on a day when the Rail Budget for 2014-15 was presented.

FDI will not be allowed in core operational areas, he said, adding these areas will remain with the Railways.

As many as 58 new trains, including five new 'Jansadharan' trains and an equal number of premium group of trains have been proposed in the Rail Budget presented by Railway Minister Sadananda Gowda Tuesday.

Full text of Railways minister Sadananda Gowda presenting the Railway Budget 2014 in the Parliament.

In a series of tweets, Modi said, "Rail Budget shows the important role of Railways in India's development journey."

Hailing the Railway Budget as "well thought-out" and non-populist, global consultancy KPMG Tuesday said it provides the much needed strategic financial headroom required for the railways to make critical investments in its modernization and expansion plans.

The Sensex touched a high of 26,190.44 points and a low of 25,495.04 points in the trade.

Looking to attract funds for infrastructure development, the Railways Ministry would seek approval of the Union Cabinet to relax foreign direct investment policy to overcome cash crunch.

The government Tuesday said it will expedite the construction of three critical rail lines to facilitate faster transportation of coal to power plants, thereby helping in bringing nearly 100 million tonnes of incremental traffic to Railways.

Aiming at boosting domestic tourism, Railways Tuesday announced several tourist trains connecting pilgrim centres across the country

Government today proposed "highest ever" plan outlay of Rs 65,445 crore to the railways for the current fiscal, with a budgetary support of over Rs 30,000 crore.

Introduction of bullet trains starting off with the Mumbai-Ahmedabad sector and an ambitious plan to have a Diamond Quadrilateral network of high speed rail connecting major metros and growth centres are on the anvil.

Minister for Railways DV Sadananda Gowda presented the rail budget in Lok Sabha, promising to serve the social obligations of the ministry.

The Railway Budget today proposed to introduce ready-to-eat meals of reputed brands on-board trains to improve food quality and cancel vendors' contract if services were not up to the mark.