Rail revenue News

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".

Addressing the pressing issue of finances for the Indian Railways, Minister Suresh Prabhu Thursday proposed an operating ratio below 90 percent to increase revenues for the system.

Minister Suresh Prabhu began presenting his maiden budget for the Indian Railways in the Lok Sabha Thursday, promising to balance the needs of passengers and the long-term interests of the network so that it can be benchmarked globally on quality, safety and reach.

India will increase investment in its overloaded railway network to 8.5 trillion rupees (USD 137 billion) over the next five years, the government said on Thursday, promising to modernise existing tracks and introduce faster trains.