Highest Ever Plan Outlay of Rs.57,630 Crore Proposed

Presenting the Railway Budget in Parliament today the Minister for Railways, Mamata Banerjee, announced a number of new initiatives including expansion of railway network, modernization of safety and security and welfare of railway employees.

Proposing highest ever plan outlay of Rs. 57,630 crore the Railway Minister said that it will be financed through Gross Budgetary Support (GBS) of Rs. 20,000 crore, diesel cess of Rs. 1,041 crore, internal resources of Rs. 14,219 crore and market borrowings of Rs. 20,594 crore.

She said that external source of financing through Public Private Partnership (PPP), Wagon Investment Scheme (WIS) etc is expected to yield Rs. 1,776 crore.

Reiterating her commitment to the expansion of the rail network the Minister of Railways proposed an allocation of Rs. 9,583 crore for new lines, Rs. 5,406 crore for doubling the lines and Rs. 2,470 crore for gauge conversion projects. To overcome shortages in wagons, coaches and locomotives, Rs. 13,820 crore has been earmarked for acquisition of rolling stock.

The Minister also proposed to set up additional mechanized laundry units at Nagpur, Chandhigarh and Bhopal for improving the quality of linen in trains and 700 MW gas-based power plant at Thakurli in Maharashtra for energy requirement of the Railways. She said that 18,000 Wagons will be procured during 2011-12 for better freight management.

Source : Equity Bulls

Keywords