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Rail Budget 2017–2018 Key Highlights, New Railway Lines, Live Updates

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Rail Budget

Rail Budget 2017–2018: Indian Finance Minister Mr. Arun Jaitley has declared the Rail Budget for this year today on 1-02-2017.
While his speech in Lok Sabha, he disclosed many facts regarding the Budget for the year 2017-18. This is the first time that the Railway Budget and the union budget are merged together. Mr. Arun Jaitley has discussed all the plans regarding the New Railway Lines and given all the Key Highlights about the New Railway Budget. Here you can get all the Live Updates regarding the major budget merge and decisions.
Rail Budget
Distribution of Rail Budget:
  • The total capital that is to be invested in the development of the railway sector is Rs 1, 31,000 crores.
  • As part of the deep-seated re thinking on improving the country’s transportation architecture, this is for the first time in 92 years that a combined budget has been presented as the merger of the railway budget with the Union budget.
  • This is a break from the colonial legacy of having a separate railway budget which was recommended by British politician William Ackworth in 1924.
Rail Budget Key Highlights:

The announcement for Indian Railways focused on four broad themes:

SAFETY,
CAPITAL AND DEVELOPMENT FOCUS,
FINANCIAL ACCOUNTING REFORMS AND
SWACHHH RAILWAYS

The set of plans announced look like to recognize the challenge that Railways is losing share in both freight and premium passenger services to alternate modes of transport, and hence an integrated approach to improving safety, cleanliness and passenger comfort, and higher levels of service to freight customers through end to end services have been introduced in this budget.


Rail Budget Updates:

Passenger safety
  • Passenger’s safety is also taken as a consideration this time.
  • Our finance minister has revealed a fact regarding the Rashtriya Rail Sanraksha Kosh as it will be stated with a safety fund worth Rs 1 lakh crore over 5 years (20,000 crore per year).
  • He said that clear guidelines for safety will be drawn out. FM Jaitley also said that all unmanned railway crossings will be eliminated by 2020.
New railway lines
  • Railway lines of 3,500 km will be commissioned in 2017-2018.
  • Railways have put up joint ventures with 9 state governments.
Redevelopments
  • At least 25 stations are to be awarded for redevelopment.
  • Around 500 stations will be made disable-friendly.
Solar power
  • At least 7,000 stations will be feeded with solar power in the medium term
  • Till now300 stations are already feeded with it
  • He added that work will be taken up for 2000 stations as part of the government’s 1000 Megawatt solar mission.
  • He also said that by 2019, all rail coaches will have bio-toilets.
Grievances

The government has decided to provide a coach mitra facility through which all the complaints regarding the coach are registered at one place.

Bookings and Tariff
  • Service charges on e-tickets booked through the IRCTC website will be withdrawn in an effort to push digital transactions.
  • Tariffs will be fixed taking into account cost of other forms of transport.
  • Fares can be expected to rise.
  • He also announced that Railway related state-run companies like IRCON and IRCTC to be listed on stock exchanges.
New trains and policies
  • Some steps will also be taken to launch pilgrimage trains.
  • A new metro rail policy will be put in place.

Mr. Jaitley said that attempts will be made to improve Indian Railways operating ratio.

SUMMARY OF THE RAILWAY BUDGET:
  • A Rail safety fund+ with a corpus of Rs 100,000 crore will be created over a period of 5 years
  • The service charge on rail tickets booked through IRCTC will be withdrawn.
  • As many as 500 rail stations will be made differently abled-friendly by providing lifts and escalators.
  • Steps will be taken to launch dedicated trains for pilgrimage and tourism
  • A new metro rail policy will be announced+. This is expected to open up new jobs for the youth
  • At least 25 train stations are expected to be awarded during 2017-18
  • By 2019, all coaches of the Indian Railways will be fitted with bio-toilets
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  • Railways will integrate end to end transport solutions for selected commodities through partnerships
  • Unmanned railway level crossings to be eliminated by 2020

If you have any queries regarding the Rail Budget 2017–2018 then please feel free to comment in the below stated comment box. And if you are satisfied with the details given by us and want to know more than please keep visiting our pages

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