Highlights of Rail Budget 2014
Union minister Sadananda Gowda is presenting his first Rail Budget in the Lok Sabha. Here are the highlights :
* Indian railways to become the largest freight carrier in the world: Railway Minister Sadananda Gowda.
* Social obligation of Railways in 2013-14 was Rs 20,000 crore: Gowda.
* Gross traffic receipts in 2013-14 was Rs 12,35,558 crore; operating ratio was 94 per cent, says Gowda presenting Rail Budget.
* Focus in past has been on sanctioning projects rather than completing them: Railway Minister.
* Indian Railways spent Rs 41,000 crore on laying of 3,700 km of new lines in last 10 years: Railway Minister.
* Populist projects and mismanagement have brought Railways to point of funds crunch: Gowda.
* This state of affairs in railways needs immediate course correction: Gowda.
* Need to explore alternative sources of resource mobilisation and not depend on fare hike alone: Rail Minister.
* FDI in railway projects, except in operations, to be attracted: Gowda.
* Future projects to be financed on public-private partnership model: Gowda.
* Plans to attract investment from domestic and foreign players in infrastructure; focus to be on aggressive indigenisation: Gowda.
* There was decline in traffic growth and deterioration in operating ratio in 2013-14.
* Expenditure in 2014-15 pegged at Rs 149,176 crore: Railway Minister.
* Surplus revenues declining, hardly any resources for development works. Rs five lakh crore required for ongoing projects only: Gowda
* Only 317 projects completed out of 674 sanctioned in the last 30 years; about Rs 1,82,000 crore required for the rest.