Railways to mobilise Rs 1.46 lakh cr; to miss target for FY13
Feb 26 2013 , New Delhi
It is expected to fall short of targeted revenues by as much as Rs 7,491.66 crore mainly due to lower passenger and freight earnings.
As per official data, Railways is projected to see gross receipts Rs 1.28 lakh crore for the fiscal ending March 31, 2013, compared to the budget estimate of Rs 1.35 lakh crore.
It is expected that shortfall in revenue mobilisation, both from passenger and freight movement, will be to the tune of Rs 3,573 crore and Rs 3,383 crore respectively as compared to the Budget estimates for 2012-13.
Presenting the budget for 2013-14, Railways Minister Pawan Kumar Bansal today proposed to mobilise Rs 1.46 lakh crore by raising various charges for passengers movement and basic freight rate.
The Railways is expected to garner Rs 42,210 crore from passenger fare in 2013-14, compared to revised estimates of Rs 32,500 crore for the current fiscal.
Similarly, freight movement, the highest contributor to the Railways revenue, is likely collect in Rs 93,554 crore as against revised estimate of Rs 85,956 crore for financial year ending on March 31.
As far as expenditure is concerned, the Railways is likely to spend Rs 96,500 crore towards working expense in the next fiscal.
Besides, it has earmarked Rs 4,163 crore for Railway Liability Reserve Fund.