The Indian Union Budget of India is just around the corner and a lot of anticipation is brewing in the Industry. Usually, the Budget session begins in the third week of February and is over by early May. There is a recess in between, when the budgetary demands for grants are discussed in the committees. We bring to you budget 2016 live. It covers some of the key areas where we are expecting changes in the 2016 Union Budget.
Railway budget is to be tabled on 25th February 2016, Monetary Policy on 28th February and Union Budget on 29th February 2016. Read minute-by-minute live coverage of Budget, only on Commerce Duniya.
Railway minister Suresh Prabhu is likely to announce a marquee train service that will have premium coaches aimed at giving competition to low cost airlines and helping the state-run behemoth win back customers. The new service will be in the category of Shatabdi, Rajdhani and Duranto trains.
Here are vital things likely to be addressed by Prabhu:
1. While the falling revenue collection and increasing demand for funding various capacity augmentation projects as well as the requirement for improving passenger services demand hiking up fares, a section in Railway Ministry does not favour any such move, saying an increase at this juncture will not be a very good idea as elections are round the corner in four states and diesel price is on the downslide.
2. Railways have already decided to run as many special trains on higher fares in popular routes catering to the growing demand during festive season, an indirect way of hiking fares.
3. The Railway Budget is expected to focus on massive capacity creation in the rail sector with an increased plan outlay of about Rs 1.25 lakh crore.
4. A scheme for premium high-speed parcel trains is slated to be unveiled in the budget. In suburban section, the Rail Budget will announce introduction of AC suburban trains in Mumbai, which will be replicated in other areas as well. The fare of AC suburban service will be higher than regular local train.
5. Continuing with ‘Swachh Bharat’ drive, Prabhu is also likely to announce plans for installation of bio-toilets and vacuum toilets in as many trains and placing dustbins in every coach.
Here are highlights from his speech:
# The Rail Budget2016 is a story of transformation. We need to reorganise and rejuvenate the Indian Railways.
# PM once said his vision is to make Indian Railways the backbone of India’s progress and economic development.
# For year 2016-17 we expect the operating ratio of 92%.
# Co-operation, collaboration and communication- hallmarks of Indian Railways’ journey forward.
# We need to re-imagine conventional ways of solving issues. We will focus on zero based budgeting approach.
# 1.21 lakh crores capital plan in Rail Budget2016, shunning conventional approach, adopting new ways.
# A saving of 8,720 crore rupees for budget estimates of last year will be effected this year.
# We will be at the forefront of infrastructure investment in the country.
# Action has been initiated on 139 budget announcements made last year.
# Budget’s 3 Rs are restructure, reorgranise, rejuvenate.
# 8.5 lakh crore to be spent over 5 years for modernisation of railway infrastructure.
# Expect revenue growth of over 10% this year.
# Propose to electrify 2,000 km next year, increased electrification budget by 50%.
# Indian Railways to surpass ambitious target of commissioning 2,500 kms of broad gauge lines, almost 30% higher than last year.
# Broad guage Lumding-Silchar section in Assam opened, thus connecting Barak Valley with rest of the country.
# Our mission is to ensure 100% transparency. Social media is being used as a tool to ensure the same.
# North East India, especially Mizoram & Manipur, to be connected through broad gauge soon.
# 17,000 bio toilets & additional toilets in 475 stations before close of this financial year.
# The common people have always been the focus of all our initiatives.
# Cabinet approval for joint ventures with state govts. 17 consented and 6 MoUs signed with state govts.
# Introduced 1,780 automatic ticket vending machines, mobile apps, GoIndia smart cards for cashless purchase of UTS and PRS ticket.
# Enhanced capacity of e-ticketing system from 2,000 tickets per minute to 7,200 per minute.
# We will introduce WiFi services at 100 stations this year, 400 more stations over next two years.
# 2,500 water vending machines at railway stations have been provided.
# Supporting 1.2 lakh concurrent users now, as opposed to 40,000 earlier.
# Reserved middle bays in coaches for women security.
# All major stations to be brought under CCTV surveillance in a phased manner.
# Will introduce Antyodaya Express, a long-distance, superfast train, for common man to be operated on densely populated routes.
# Will introduce Humsafar Express , fully air-conditioned third AC service with an optional service for meals.
# Tejas: Will showcase future of train travel in India with operating speed of 130 KMPH and above.
# E-booking ticket facility on the concessional passes available to journalists.
# Will introduce sub-quota of 33% for women in each of the reserved categories in catering.6
# Local cuisine of choice will be made available.
# Introduce Sarathi Seva in Konkan Railway to help old and disabled passengers.
# Prabhu introduces Utkrisht double-decker AC yatri (Uday) Express with increased capacity of almost 40%.
# Porters to not be called ‘coolies’ but ‘sahayaks’ now; will be trained in soft skills.
# Facility of cancellation of tickets through 139 telephone line.
# Battery operated cars and paid porters services for specially able people.
# Intend sale of tickets through hand-held terminals for short-distance travellers.
# Propose to invite FM radio stations to provide train borne entertainment via PA systems.
# Baby food, hot milk and water to be available on stations.
# To capture automobile traffic, we will soon inaugurate India’s first rail auto hub in Chennai and continue to build more.
