Main Points of Railway Budget 2016-17
Rail Budget 2016-17
Union Railway Minister Suresh Prabhu presented his second railway budget i.e., Railway Budget 2016-17 in the Parliament on February 25, 2016. This was the third rail budget of Prime Minister Narendra Modi-led NDA government.
Highlights of the Railway Budget 2016-17 Theme of the Budget
- To overcome challenges, Reorganise, Restructure Rejuvenate Indian Railways : ‘Chalo, Milkar Kuch Naya Karen’.
- Three pillars of the strategy i.e.,.Nav Arjan (New Revenues), Nav Manak (New Norms), Nav Sanrachna (New Structures).
Financial Target for 2016-17
- Targeted Operating Ratio (OR) – 92%.
- Restrict growth of Ordinary Working Expenses by 11.6% after building in immediate impact of 7th PC.
- Reductions planned in diesel and electricity consumption. Revenue generation targeted at T184820 crore.
Investments and Resources
- For 2016-17 CAPEX pegged at Rs 1.21 lakh crore; implementation through joint ventures with States, developing new frameworks for PPP, etc.
Targeted Commissioning 2800 Km of Track
- In 2016-17, commissioning Broad Gauge lines at over 7 km per day against an average of about 4.3 km per day in the last 6 years.
- It would increase to about 13 km per day in 20J7-18 and 19 km per day in 2018-19.
- It will generate employment of about 9 crore man days In 2017-18 and 14 crore man days in 2018-19.
- Outlay for railway electrification increased in 2016-17 by almost 50%; target to electrify 2000 km.
Passenger Fares
- No new hike in passenger fares and Freight fares. Promised to bring down freight rates and double non-tariff revenue for the ailing national transport.
Improving Quality of Travel
- For the unreserved passenger Antyodaya Express unreserved, superfast service.
- Deen Dayalu coaches unreserved coaches with potable water and higher number of mobile charging points.
- For the reserved passenger, Humsafar, fully air-conditioned third AC service with an optional service for meals.
- Tejas will showcase the future of train travel in India. It will operate at speeds of 130 km/h and above.
- It will offer onboard services such as entertainment, local cuisine, WiFi, etc. through one service provider for ensuring accountability and improved customer satisfaction.
- Humsafar and Tejas to ensure cost recovery’ through tariff and non-tariff measures.
- Overnight double-decker, Utkrisht Double-Decker Air-conditioned Yatri (UDAY) Express on the busiest routes, has the potential to increase carrying capacity by almost 40%.
