Rail Budget
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.
