Passenger Amenities get 119% rise in Railway Budget

Presenting the Railway Budget today in the Parliament, Railway Minister Kumari Mamata Banerjee proposed an outlay of Rs.40,745 cr. for 2009-2010, which is 2840 cr. more than the allocation proposed in the interim budget. The Minister said, Rs.15, 675 cr. will be deployed through internal resources and Rs.9, 170 cr. from market borrowings. The Ministry will also go for issue of tax free bonds for resource generation.

The Railway Minister proposed increase in the allocation for new lines from Rs.1100 cr in the interim budget to Rs.2921 cr. Similarly provision for gauge conversion has been increased by 24% over the interim budget by allocating Rs. 1750 cr.

Passenger amenities will now have Rs. 1102 cr. while the allocation in the interim budget was only Rs.502 cr. Thus, 119% more money will be spent on passenger amenities.

Declaring staff welfare as a priority area, she proposed 49% increase for the construction of staff quarters by allocating Rs. 335 cr. and 79% increase for staff amenities by allocating Rs.424 cr.

The Minister also said, additional funds to the tune of Rs.1949 cr have been sought from the Ministry of Finance for 11 railway projects spread over in Jammu & Kashmir and the North East.

Source : Equity Bulls

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