IRCTC has an envious position with monopoly in internet ticketing, catering and packaged drinking water businesses. It’s affordable holiday packages are also quite popular. While internet ticketing is extremely high margin, it is almost fully penetrated and the growth is likely to come from addition of new trains including Vande Bharat that could have a positive rub off on catering and water business as well
Defective material in loco manufacturing, bad workmanship main reasons. CAG also pulls up Railways on LHB coaches. A committee had recommended a switchover to the manufacture of these coaches by 2012. However, it came into effect only from April 1, 2018.
There are currently 230 passenger trains run by Indian Railways and these 80 will be in addition to those, Indian Railways said, adding, these are basically 40 pair of new trains running to-and-fro making it a total of 80 new trains.
The new trains will be flagged off by Minister of Railways, Suresh Prabhu and Minister of State for Railways, Manoj Sinha
New train services from Agartala to Delhi and Kolkata will be introduced after May 20, an official said.
In his Budget announcement, Railway Minister Suresh Prabhu thanked PM Narendra Modi and said the Indian railways will play major role in development of country.
Since Lok Sabha elections are round the corner, there are demands from many zones and MPs for new trains. Kharge has conceded some demands and as a result survey of new lines, extension and increase of certain train service are also to be announced in the vote-on-account statement, sources said.
BJP today dubbed the Railway Budget 2013-14 as "disappointing" and said it was full of promises made by his predecessors in the last eight years that still remained unfulfilled.
Indian Railways today increased freight charges for transporting diesel, cooking gas and kerosene by 5.8 percent, but oil firms may not immediately pass on the hike to consumers.
Raising hopes of smooth and much faster online bookings of rail tickets, Railways Minister P K Bansal today said a new e-ticketing system will be deployed by December-end which will allow 7,200 bookings per minute against the present 2,000.
Cement may get costlier by Rs seven per bag of 50 kg because of the hike in freight rate by 5.79 per cent in Railway Budget today, but manufacturers of the building material said a final call will be taken after the Union Budget.
The Railway Budget was a mixed bag for India Inc with industry bodies cautioning that the hike in freight charges will fuel inflation, while other chambers said some proposals if implemented could set the growth multiplier in motion.
An over five per cent increase in freight tariff due to imposition of fuel adjustment component (FAC) from April and a hike in supplementary charges on super fast trains will fetch the Railways an additional revenue of Rs 4,683 crores in the next fiscal.
The suburban railway commuters' bodies today said they were disappointed by the budget as it has overlooked the hardships faced by about 75 lakh daily commuters even as the railway minister announced the much awaited introduction of AC local from the next fiscal.
In a major initiative to address concerns of the power sector, Railways is planning to invest about Rs 4,000 crore to enhance rail connectivity to coal mines to boost fuel supplies to projects.
Railway Minister PK Bansal today announced the Rail Budget for 2013. The main highlight was the passenger fares which were kept unchanged despite railways suffering huge losses.
As many as 67 express trains and 26 passenger trains are being introduced this year, Railway Minister Pawan Kumar Bansal announced on Tuesday.
Minister Dinesh Trivedi introduced 96 new trains as part of the 12th plan. His list includes introduction of 75 new Express trains and 21 passenger trains.
Here are the key highlights so far from Railway Budget for 2012-13 presented by Railway Minister Dinesh Trivedi: