2014 Railway Budget Highlights

Presenting the Interim Rail Budget 2014 in Parliament, Union Railway Minister Mallikarjun Kharge announced that 17 new premium trains and 38 express trains would be introduced.

The Railway Minister has however kept both the passenger as well as the freight fares unchanged.

Mallikarjun Kharge is the second Railway Minister from Congress Party in the 10-year UPA regime to be presenting a Railway Budget, although interim. Earlier, under UPA-I regime Lalu Prasad from RJD had presented vote-on-account (interim budget) in 2009.

No increase in rail fare and freight has been proposed in the Interim Rail Budget for 2014-15. The Minister announced that there will be no more unmanned crossings. A Rail Tariff Authority has also been announced. A number of measures for safety and security of passengers like portable fire-extinguishers in coaches and induction-based cooking in pantry car have been proposed in the Budget.

Rail Budget 2014 Highlights

·         Passenger fares to remain unchanged

·         Leaves freight fares unchanged

·         Railway line from Kashmir to Kanyakumari

·         High time to take note of urgent needs of Railways

·         Seeks approval for spending first 4 months of FY'15

·         Funds to be provided for national projects

·         To start passenger service to Vaishnodevi-Katra shortly

·         Setting up of 11.2 km-long tunnel in J&K

·         Railways met extra expenditure through own means

·         Successfully met 6th pay panel recommendations

·         Extending rail connectivity to NE states

·         Electrification of over 4,000 kilomteres in plans

·         Railways has emerged stronger financially

·         Extra expenses met through internal accruals

·         Dedicated freight corridor to cut transit time by half

·         Completed laying 2,027 kms railway lines vs target 2,000 kms

·         Railways helps cause of national integration

·         To introduce 17 new premium trains and 38 express trains

·         Railways help provide low cost connectivity

·         Banihal link a big boon

·         Railways has met 6th pay panel recommendations

·         Dedicated freight lines to be commissioned

·         Completed doubling gauge of 2,227 kms vs target of 2,000 kms

·         Completed electrification of 4,556 kms vs target of 4,500 kms

·         Railways to have more passenger trains at higher speed

·         Need budgetary resources of Rs 19,805 crore for FY15

·         Rail Vikas Nigam to borrow Rs 1,000 crore from market in FY15

·         FY15 gross traffic receipts seen at Rs 1.16 lakh crore