NEW DELHI: The Modi Government today went in for what it called a ‘course correction’ in its first Railway Budget, announcing plans for massive involvement of the private sector, including FDI, to modernise the worlds fourth largest rail network which carries 23 million passengers a day but had slowed down due to cash crunch.
Railway Minister Sadananda Gowada, who tabled the Budget in the Lok Sabha, did not announce any fare and freight hike as the government had already over a week before the start of the Budget session increased both by a hefty 14.2 per cent and 6.5 respectively.
He, however, indicated future hikes depending on the increase in oil prices.
”Here, I point put that periodic revision in passenger fare and freight rates, as approved by this August House, will be linked to revisions in fuel prices in order to insulate the Railway revenue from fuel cost escalation,” Mr Gowda said in his Budget speech.
Some of the highlights of the Budget,which proposes highest ever plan outlay of Rs 65,445, were proposals for introducing a bullet train on Mumbai-Ahmedabad route and setting up a network of High Speed Rail connecting major metros and growth centers of the country with initial fund of Rs 100 crore for the purpose, which was described as Quite insufficient by leader of the Opposition Congress in the House Mallikarjun Kharge.
Under this plan, the speed of trains will be increased to 160 to 200 kms per hour on nine select sectors.
As many as 58 new trains have been proposed in the budgets including five new Jansadharan trains, five premium trains and 27 new express trains.
Besides, eight new passenger trains, 5 DEMU services and 2 MEMU services would be introduced and run of 11 trains would be extended. UNI
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