Diabytes
Rail Budget 2016 News
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Railways is gearing up to introduce a few special services with improved passenger amenities for which the regular fares will not be applicable.
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With the increase in the number of reserved berths for senior citizens, there will be now 80 to 90 berths available for senior citizens.
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Replying to the debate on rail budget in the Lok Sabha said, the Minister said "the budget has everything for common man...Common man is the centre of the budget."
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Rail Budget 2016: Watch Post Budget interview with Railway Minister Suresh Prabhu
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Dedicated freight corridors and redevelopment of 400 railway stations would foster the transit oriented development and boost the real estate market, property consultants have said.
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Railways' revenue from passenger fares as well as freight rates is expected to fall short of the Budget target by Rs 15,744 crore in the current fiscal.
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Terming Railway Budget for 2016-17 as "growth-oriented", India Inc has said the three new freight corridors envisaged by 2019 will help reduce transportation costs, even as it described the revenue generation target of Rs 1.84 lakh crore as a "strong challenge".
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Aiming at a 'zero accident' regime, the Rail Budget Thursday unveiled plans to eliminate all unmanned level crossings on the broad gauge network in 3-4 years for which innovative financing mechanism are being worked out to curb train accidents.
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The seven missions are '25 Tonne', 'Zero Accident', PACE (Procurement and Consumption Efficiency), 'Raftaar', 'Hundred', 'beyond book-keeping' and 'capacity utilisation'.
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Bihar Chief Minister Nitish Kumar on Thursday said that people were disappointed by the Railway Budget - 2016-17 as it lacked vision.
Rail stocks Thursday witnessed heavy selling pressure, falling by up to 9.3 percent, as the Railway Budget for 2016-17 failed to lift investor sentiment.
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Indian Railways has set up a new team to use analytics for optimising investment decisions and earmarked a sum of Rs 50 crore to offer grants to employees and startups for supporting innovation as part of this year's Budget.
From poems of Atal Bihari Vajpayee and Harivansh Rai Bachchan to teachings of Gautam Buddha, Railway Minister Suresh Prabhu referred to these all as he presented his second Rail Budget in the Lok Sabha Thursday.
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Here's a quick glance at all technology and ecology-related announcements made in the budget.
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Lauding the railway budget for its passenger friendly approach, BJP president Amit Shah on Thursday described it as "visionary attempt that will present a robust base for future schemes".
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