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Railway Minister Lalu Prasad Yadav presented a populist budget today. He announced a cut in passenger fares across the board and has left the freight rates unchanged. The Minister once again showed his business acumen.
His achievements entail a profit of Rs 20,000 crore versus Rs 14,700 the previous year. Also, the passenger traffic saw an increase of 14%, while the freight traffic was up 17% and operating surplus is seen at 73.7%.
"In super-fast trains, the charge for unreserved super-fast travel has been reduced by 20%. The fares for 1st and 2nd class AC travel have been reduced by 6% and 4% respectively. Fares have also been cut for travel on new-design coaches, whether sleeper or chair car," announced Yadav.
Highlights from Railway Budget 2007:
- FY07 Railway Profit Of Rs 20,000 Cr Vs Rs 14,700 Cr
- Freight earnings up 17% in 9 months
- Apr-Dec passenger traffic up 14%
- Operating ratio seen at 73.7%
- Fund balance at Rs 16,000 cr
- Extra loading of 7 mt seen this year
- 60 mt excess loading witnessed in FY07
- Steel traffic market share up significantly
- Steel movement seen up 5-7%in FY07
- Next 5 years will invest massively in container operations
- Plan to start 3-storey container trains on pilot basis
- Freight on steel, cement up 5-7% in FY07
- NTPC, other companies to help in new construction
- IRCON, private partnership options being explored
- Promises rail lines to aid new steel, power plants
- 3-year plan to up facilities at key container terminals
- Rs 1,500 Cr yearly profit seen on 1% improvement in loading
- Wagon production seen up 10%
- 22.9 and 25 tonne extra load wagons in FY08
- New wagons to replace outdated ones
- 20,000 KM high-density network to see big investment
- Tariff discount to up high axle wagon output
- 11,000 new wagons needed for this high-density line
- To invest in improving infrastructure around railway stations
Contd on Pg 2....
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