Railways to get Rs 29,000cr as budgetary support in 2014-15

The interim budget presented today announced an increase of budgetary allocation for railways from Rs 26,000 crore in 2013-14 to Rs 29,000 crore in 2014-15.

"Railways need to mobilise huge resources through market burrowing and private public partnership schemes. It is proposed to identify new instruments and new mechanism to raise funds for railway projects," Finance Minister P Chidambaram said.

Railways is getting total Rs 30,223 crore as gross budgetary support for the fiscal 2014-15 which includes Rs 1223 crore as fuel cess.

Describing the increase in passenger fares of trains in the recent past as one of the "path-braking" decisions, Chidambaram said government took several notable decisions including some that were "described as courageous and long overdue".

Railways fares were rationalised for the first time in a decade, Chidambaram said in his Interim Budget 2014-15 speech.

The then Railway Minister Pawan Kumar Bansal had effected an across-the-board hike in fares of all classes from midnight of January 21, 2013 to net an additional Rs 6,600 crore a year, the first such increase in a decade.

Later on the railways further increased passenger fares by up to 2 per cent across classes, except for the unreserved section, with the introduction of fuel adjustment component (FAC), a component that links rail tariffs with the price of fuel.

EDITORIAL OF THE DAY

  • We must understand the need for P-notes to settle the debate

    The never-ending controversy surrounding participatory notes, aka P-notes, is back in focus following the latest revelation by the Supreme Court-appoi

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Arun Kumar Jain

Managing decisions & bias in 3EE

Leadership is about facing and resolving dilemmas, taking tough calls, ...

Kuruvilla Pandikattu SJ

To see the best in the other

When two people initially develop a loving relationship, the bond ...

Dharmendra Khandal

Creepy, you say? That’s merely ophidiphobia

Snakes are the earliest predators in the life of the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture