Highlights of Railway Budget for 2015-16

Highlights of Railway Budget for 2015-16
Cogencis, Thursday, Feb 26
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    MUMBAI - Following are highlights of the Railway Budget for 2015-16
(Apr-Mar), presented by Railway Minister Suresh Prabhu in Parliament today:
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FARES, FREIGHT
* Emphasis on gauge conversion over next 5 yrs
* Must run fast trains like Rajdhani, Shatabdi
* To up track length by 20% to 138,000 km next 5 years
* Must substantially regain freight mkt share
* No hike in passenger fares

HYGIENE BOOST
* To have professional agencies for railways cleaning
* Ensuring higher standards of cleanliness a priority
* Swachh Rail to be a driving force
* To create new dept for clean stations, trains

MISCELLANEOUS
* 1,219 sections on high density network
* Railway is a unique integrator of India
* Investment in railways to create more jobs
* Under-investment led to reduced efficiencies
* Capacity augmentation suffered over the years
* Railway facilities have not improved in last few decades
* Minister: Cycle of poor invest in railways must end
* Minister Prabhu begins FY16 Rail Budget speech in Lok Sabha
* Aim to make rail a safer means of travel
* Need tighter control on costs
* Freight carrying capacity to be raised to 1.5 bln tn
* Aim to make rail financially self sustainable
* Railway an integral part of PM's flagship programmes
* Launching steps to systematically address customer grievances
* Working on feasible views of over 20,000 in social media
* Aim to modernise rail infra
* We have prepared a forward-looking agenda
* Legacy of past decades to take some time to neutralise
* Must make freight transport reliable, comfortable
* Minister: Railways has to transform in next five years
* Convinced can deliver on promises of efficient railways
* Focus on doubling, tripling existing high-density network
* Next 5 yrs' priority to up capacity in high density network
* 492 sections on high density network at over 100% capacity
* To set standards for governance, transparency
* Need to make changes to speed up operational efficiency
* Pension funds have shown interest in investing in railways
* Need to revamp management practices
* Railway FY16 operating ratio seen 88.5%
* To partner with PSUs to transport coal, iron, cement
* Tie up with multilateral, bilateral bodies for overseas tech
* Railway invest to need multiple sources of funding
* Will partner with pvt sector to modernise stations' infra
* To partner with multilateral agencies for fund access
* Railway envisages 8.5 trln rupee invest in 5 yrs
* To partner with PSUs to build capacity for freight movement
* Railway to partner pvt sector for last mile connectivity
* States can raise finance through SPVs
* This budget part of trilogy of vision to improve railways
* Improvement of connectivity an imperative
* Vision 2030 document later this year
* Aim 30 mln daily passenger carrying capacity in next 5 yrs
* Railway Budget proposals be seen as part of 5-yr plan
* Aim to invest on ongoing basis in depreciating assets
* Sustained, measurable improvement in travel experience a goal
* Need material improvement in operating capacity