Railways Register 8 Percent Increase In Earnings In 10 Months (08-Mar-2010)
With its revenue swelling to Rs 77,890 crore, railways registered more than 8% rise in earnings during the first 10 months of the ongoing fiscal.
As against 71,821.97 crore it earned during the same period last year, railways earned Rs 77,890.29 crore between April-February.
Therefore, it registered an increase of 8.45%.
However, it earned Rs 52,584 crore from goods traffic and 21,400 crore from passenger traffic out of the total earnings.
The total revenue earnings from other sources was Rs 2,087 crore during this period.
Meanwhile, the total estimated numbers of passengers booked during this period were 6,780.87 million.
This is compared to 6,485.20 million during the same period last year, which is an increase of 4.56%.
In the suburban and non-suburban sectors, the numbers of passengers booked during the 10 month period were 3,520.40 million and 3,260.47 million respectively.
Earlier, Railway Minister Mamata Banerjee sought an additional Rs 5,268 crore to the expenditure of railways during the current fiscal.
Meanwhile, the supplementary demands for grants totaling to Rs 5,268 crore were introduced by the Minister in both Houses of Parliament.
These demands relate to additional expenditure under 11 heads.
Under these heads include repairs and maintenance, fuel and payment towards salary and pension.
Moreover, Railways plan size for the year 2010-11 exceeded Rs 41,000 crore in the Rail Budget presented on February 24.
In the Union Budget, Rs 16,000 crore was earmarked for the PSU behemoth.
The remaining amount the Railways was to generate from internal resources and market borrowing.
Previously, it was said that the Railway Budget document by Mamata Banerjee looked more like a social upliftment initiative than one aimed at financial inclusion.
The minister finally had to open her ministry''s doors to the private sector, trying to appease the masses.
She said that the time has to come for the business community to come and join hands to build partnerships with the Railways.
Meanwhile, she said that the time has to come for the business community to come and join hands to build partnerships with the Railways.
She said that they are keen to invest, but their proposals are unduly delayed by a typical negative approach and there is a need to overcome this situation.
However, her proposal in the Railway Budget for private public partnership (PPP) ventures in the Indian Railways has been the flavour of this government.
PPP seems to be the only way out, with profits of India''s biggest public sector unit dwindling.
The ministry has proposed to set up a special task force to fast track approvals for investment proposals within 100 days.
Meanwhile, Banerjee hopes to get private investment to add 1000 kilometers route of new lines every year and has proposed upgradation of 94 stations and enhance passenger facilities.
The minister announced plans to convert 10 more stations into world class stations and setting up five wagon manufacturing factories.
She also said the ministry will be building multi-level parking complexes and set up 6 bottling plants in private partnership.
Moreover, some said that the focus on PPP is surely high on intent but low on content and it does not give a clear framework and does not spell out clearly the project profile.
The ministry requires over Rs 14 lakh crore over the next 10 years to modernise rail infrastructure.
Mamata Banerjee''''s Railway Budget 2010 is a populist one with no increase in passenger fares of any class or category of trains.
There are selective rise in freight rates but has not hiked passenger fares and the Service charges for e-tickets and freight charges for food-grains will be reduced.
Regarding sports, she said that she is proud to announce that railways is the first recipient of Rashtriya Khel Protsahan Puraskar
She also said that Five Sports Academies at Delhi, Secunderabad, Chennai, Kolkata and Mumbai will be setup.
Meanwhile, Astro-turfs will be provided at more places for hockey and specially she said that railways will be lead partners of Common Wealth Games.
Railways will also run a Commonwealth exhibition train, etc…
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