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Live Up-Date on Rail Budget 24th Feb 2010

Share Market Rejects Rail Budget

Indian share markets have rejectted the rail budget presented by Mamta Banerjee for the year 2010-11. The market was expecting that the government would double its order for railway wagons this year to around 40,000, to be executed by companies such as Texmaco and Kalindee Rail Nirman. The sentiment turned negative as Railway Minister Mamta Banerjee kept the order for new railway wagons static at last year’s level of 18,000. The share prices of companies catering to the railways, which had witnessed a sharp rise during the past couple of weeks, fell sharply after the railway budget failed to meet market expectations.

Large number of new trains

In view of the increasing demand, Railway Minister Mamata Banerjee has announced a large number of long distance new trains and everal suburban trains. As many as 52 new long-distance trains have been proposed in addition to 16 trains that are to be run on the routes having places of tourist importance, and six new non-stop t'Durantos', introduced last year. Besides, four more new Duranto trains would run during the day time.

Railways strives for sports

Railway Minister Mamata Banerjee announced that Railways are the proud recipient of first Rashtriya Khel Protsahan Puraskar. Continuing the good work, she announced that five sports academies will be set up at at Delhi, Secunderabad, Chennai, Kolkata and Mumbai. Along with this some other major steps include astro-turf to be provided at more places for hockey, lead partnership of railways at Common Wealth Games and run of an exhibition train for Commonwealth games.

Indian Railways to introduce double-decker trains

Railway Minister Mamata Banerjee announced that to keep pace with modernization, the Indian Railways would introduce double-decker train-sets as a pilot project. Presenting the Railway Budget for the year 2010-2011 in the parliament, Mamata said "Double-decker train-sets matching the best in global standards will be introduced in two trains each from Delhi and Kolkata as a pilot project."

Flurry of concessions in Rail Budget

Railway Minister Mamata Banerjee announced a series of concessions including carriage of foodgrains, kerosene and fertiliser. There would be a reduction of Rs 100 per wagon in freight charges for these products.
Concessions for technicians of the regional film industry includes 75 per cent concession in second class sleeper and 50 per cent in higher classes in all trains while travelling for film production-related work.
Cancer patients travelling for treatment would get 100 per cent concession in third AC and sleeper classes.
There will be a reduction in Service charges on e-tickets reduced to Rs 10 for sleeper class and Rs 20 for AC classes from Rs 15 and Rs 40, respectively.
The benefit of 50 per cent concession to the spouse of accredited journalists has been extended to the companions of those who do not have a spouse. Their dependent children of up to 18 years of age would also get 50 per cent concession once a year.

No hike in fares, freight tariff

Union railway minister Mamta Banerjee announced no hikes in passenger fares and freight tariff. TReiterating the Government's commitment to provide efficient railway network within the reach of common man, Mamata said that there would be a cut in service charges on sleeper class and AC class fares, which has been cut to Rs 10 and Rs 20.
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Indian Rail Budget Highlights

Popularist Rail Budget

Mamata Banerjee presented her much awaited Railway Budget 2010 by delivering a good news to the country that the Railways won't hike the passenger fares. Didi's budget was quite close to the anticipation as a 'popularist' budget.

The main highlights of the budget includes, the invitation for public-private partnership, special trains and services for sections of the society such as women, physically challenged, railway employees and even cancer patients, and many new train services.

The budget also set ambitious targets such as 1,000 km of railway line in a year, flagging off 117 trains in 7 months and addressed security issues by setting goals such as manning all unmanned bridges in five years. On the whole, the Railway Budget 2010 may be received as Bengal-biased as Mamata's Bengal agenda has come under the scanner.

Indian Railway not to be privatised: Mamata

Presenting the Union Rail Budget 2010, Mamata Banerjee put an end on all speculations regarding privatisation of Indian railways. Instead, she emphasised on private-public partnership. Banerjee ssaid that there are no plans to privatise Indian Railway, while we urge the private sector to come forward and join hands with Indian Railways to promote and develop the second largest railway network in the world. She said that the Indian Railways is also exploring new business model and partnership option for inclusive growth.

Time for partnership with Private Sector : Mamata

Railway Minister Mamata Banerjee said that it is time for private partnership in Indian Railways, but ruled out any possibility of privatising Indian Railways. In her budget speech, Mamata said that private investment will be provided clearance within 100 days to speed up projects. She appealed to business houses to join hands for building partnership with Railways. Mamata announced that a special task force will be set up for early clearance of projects.

Mamata's Vision 2020 for Indian Railways

Mamata Banerjee unmasked her Vision 2020 for Indian railways which aims to put the largest public sector of India on a fast track. She pledged in the parliament for the same, explaining her vision which will address four strategic national goals: - Inclusive development (geographically and socially), Strengthening national integration, Large-scale generation of productive employment, Environmental sustainability. It will open up new avenues for employment in the primary, secondary and tertiary sectors, accelerate economic growth and also promote socially and geographically balanced growth.
In experts opinion, Vision 2020 addresses one of the biggest development challenges of contemporary India, namely, Growth with Jobs and not Jobless Growth. Vision 2020 aims at considerably enhancing the Indian Railways' contribution to the national goal of achieving double-digit GDP growth rate on a sustainable basis., by pursuing bold and unprecedented, ambitious targets in the much-needed expansion and modernization of Indian railway network.

India Inc. cherishes Rail Budget 2010

India Inc. has appreciated the announcement of another 1,000 km of new rail lines and PPP (Private-Public Partnership) offer by union Railway Minister Mamata Banerjee. In her budget speech, Mamata promised to provide all necessary clearance to new private investment in 100 days. She also announced a few dedicated freight corridors. Many sectors including steel have expressed satisfaction and termed this year's Railway Budget as visionary and positive.