Published on Mon, Feb 26, 2007 at 16:08 | Source : Moneycontrol.com
Updated at Tue, Feb 27, 2007 at 11:32
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Lalu Express on track
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.
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New wagons to replace outdated ones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