Rail Budget 2016-17, presented by Rail Minister Suresh Prabhu on February 25, announced three new freight corridors and 2,800 km of new tracks while keeping passenger fare and freight rates unchanged.
“Given the emphasis on rapid expansion of freight business, it is essential to build more dedicated freight corridors for increased traffic with consequent benefits for the economy and environment,” the minister said in his Rail Budget speech.
Accordingly, it was proposed to take up the following freight corridors: North-South connecting Delhi to Chennai, East-West connecting Kharagpur to Mumbai & East Coast connecting Kharagpur to Vijayawada, he said.
On new tracks, the minister said, “During the current financial year, we have been able to set new benchmarks in project execution. We will be surpassing the ambitious target of commissioning 2,500 km of broad gauge lines. This will be almost 30% higher than last year. In the next year, we plan to commission 2,800 km of tracks.”
He also announced that there would be no changes in passenger fares and freight rates in the Railway Budget for 2016-17.
The other major highlights of the Railway Budget are as follows:
n India’s first Rail Auto hub to come up in Chennai;
n Railways exploring possibility of monetising data;
n Drones to monitor remote railways projects;
n Railways to monetise land on tracks by leasing out for horticulture and tea plantation;
n Direct procurement of diesel to help save Rs 1,500 crore in 2016-17;
n Logistics and warehouse parks to be created on PPP mode;
n Rs 50 crore set aside for start-ups which will help provide innovate solutions to challenges faced by Indian Railways;
n Overnight double-decker train Uday Express to be introduced on busiest routes, with a 40% higher carrying capacity;
n Tejas trains to be launched; these will be fast trains running at speed of 130 kmph with world class services;
n Plans to launch long-distance superfast trains for unreserved travel;
n Sale of tickets through hand-held terminals on shorter routes;
n Service of cancellation of tickets through 139 telephone helplines to be introduced soon;
n Plans to launch long-distance superfast trains for unreserved travel;
n Railways to get Rs 40,000 crore budgetary support from the government;
n Outlay for railway electrification increased by 50%; 2,000km route to be electrified next fiscal;
n Railways to shift to completely paperless contract system in 2016-17;
n To ensure transparency, Indian Railways plans to move online for recruitment and all other processes;
n As a part of Make-in-India initiative, two local factories to be set up to add to global supply chain;
n Railways to generate 90 million mandays in 2017-18 and 140 million mandays in 2018-19;
n Connectivity to Northeast India to be improved;
n Time-tabled freight trains by 2020.