2015 Railway Budget of India

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 () 2015 Railway Budget of India
Emblem of India.svg
Submitted by Suresh Prabhu, Railway Minister
Presented 25 February 2015
Parliament Indian Parliament
Party Bhartiya Janta Party
Website www.indiabudget.nic.in
‹ 2014
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2015 Railway Budget of India refers to the Railway Budget of the Indian Railways in the fiscal year 2015–16. The budget was presented by the Railway Minister Suresh Prabhu in the Parliament on 26 February 2015. [1]

Indian Railways Indian state-owned enterprise, owned and operated by the Government of India

Indian Railways (IR) is India's national railway system operated by the Ministry of Railways. It manages the fourth-largest railway network in the world by size, with 121,407 kilometres (75,439 mi) of total track over a 67,368-kilometre (41,861 mi) route. Eighty percent of the routes are electrified with 25 KV AC electric traction while thirty three percent of them are double or multi-tracked.

Fiscal year

A fiscal year is the period used by governments for accounting and budget purposes, which varies between countries. It is also used for financial reporting by business and other organizations. Laws in many jurisdictions require company financial reports to be prepared and published on an annual basis, but generally do not require the reporting period to align with the calendar year. Taxation laws generally require accounting records to be maintained and taxes calculated on an annual basis, which usually corresponds to the fiscal year used for government purposes. The calculation of tax on an annual basis is especially relevant for direct taxation, such as income tax. Many annual government fees—such as Council rates, licence fees, etc.—are also levied on a fiscal year basis, while others are charged on an anniversary basis.

Suresh Prabhu Indian politician

Suresh Prabhakar Prabhu is an Indian politician and currently serving as the Minister of Commerce & Industry and Civil Aviation under the Modi government.

Contents

Summary

No new trains were announced. There were no passenger fare hikes announced. Passengers will be allowed to book tickets up to 120 days in advance, an increase from current 2 months. An initiative called the "Operation 5-minute" was announced which would allow ticket bearer passengers to acquire tickets within 5 minutes of entering a station. SMS alerts for the arrival and departure of trains will introduced. More general-class coaches would be added to select trains. A centrally managed "Railway Display Network" will be introduced at 2,000 stations to provide train information. [2] [3] [4] [5] [6]

SMS text messaging service component

SMS is a text messaging service component of most telephone, internet, and mobile-device systems. It uses standardized communication protocols to enable mobile devices to exchange short text messages. An intermediary service can facilitate a text-to-voice conversion to be sent to landlines. SMS was the most widely used data application, with an estimated 3.5 billion active users, or about 80% of all mobile subscribers, at the end of 2010.

200 stations will be brought under the "Adarsh Station Scheme" and will be given basic amenities like toilets, drinking water, catering services, waiting rooms etc. Under the "Swachh Rail Swachh Bharat" programme professional cleaning agencies will hired to keep trains and stations clean and train staff. 650 stations will be getting new toilets. 17,000 old toilets on trains will be replaced by bio-toilets in 2015, increasing the number of 17,388 existing ones. A 24/7 toll-free system will be introduced, 138 for the helpline and 182 for security issues. Mobile phone charging will be introduced in general-class coaches and the number of charging points in sleeper-classes will be increased. [7] [5]

400 railways stations, including B-category stations, will be provided with Wifi. CCTV cameras will installed in select trains and women's-only coaches of suburban trains to ensure the safety of women. Shatabdi trains would be provided with on-board entertainment. Train collision detection systems will be introduced on selected routes. The number of stations from which passengers can pay a combined train and road ticket will be increased. The numbers of trains in which passengers can order meals and disposable bedrolls at the time of booking tickets to be increased. Differently-abled and senior citizens will be able to book wheelchairs. [8] [2] [9] [5] [10]

Shatabdi Express express train in India

Shatabdi Express trains are a series of fast passenger trains operated by Indian Railways to connect Metro cities with other cities important for tourism, pilgrimage or business. Shatabdi Express are day-trains and they return to the station of origin the same day.

1,38,000 km of tracks will be added in the next 5 years, an increase of 10%. 3,000 unmanned railway crossings will be removed and 917 over or under-bridges will be constructed to replace some of them. Four dedicated freight corridors will be complete in 2015 and 6608 km of tracks would be electrified. The feasibility study report of the Mumbai and Ahmedabad expected to be submitted in mid-2015. 9 semi-high speed corridors will be introduced with speed up to 200 km/h. The carriages for such trains will be built in India. A push for better connectivity in the North-East India and Jammu and Kashmir was also announced. [2] [11] [12] [1]

Jammu and Kashmir State in India

Jammu and Kashmir is a state in northern India, often denoted by its acronym, J&K. It is located mostly in the Himalayan mountains, and shares borders with the states of Himachal Pradesh and Punjab to the south. The Line of Control separates it from the Pakistani-administered territories of Azad Kashmir and Gilgit-Baltistan in the west and north respectively, and a Line of Actual Control separates it from the Chinese-administered territory of Aksai Chin in the east. The state has special autonomy under Article 370 of the Constitution of India.

Barcode and RFID tracking of parcels and freight carriages will be introduced. [8] The fare of some freight goods were increased. The rate for urea was hiked by 10%, coal by 6.3%, iron ore and steel by 0.8%, cement by 2.7%, and grains and pulses by 10%. However, the rates for limestone, dolomite and manganese ore was reduced by 0.3%, and diesel oil by 1%. [13]

Barcode optical machine-readable representation of data

A barcode is an optical, machine-readable representation of data; the data usually describes something about the object that carries the barcode. Traditional barcodes systematically represent data by varying the widths and spacings of parallel lines, and may be referred to as linear or one-dimensional (1D). Later, two-dimensional (2D) variants were developed, using rectangles, dots, hexagons and other geometric patterns, called matrix codes or 2D barcodes, although they do not use bars as such. Initially, barcodes were only scanned by special optical scanners called barcode readers. Later application software became available for devices that could read images, such as smartphones with cameras.

Satellite stations will be built around 10 major stations to reduce congestion and serve the suburbs. Four Railway Research Centres will be introduced in select four universities. [5] [1]

The Indian Railway will raise ₹ 17,655 crore from the market through its two companies Indian Railway Finance Corporation (IRFC) and Rail Vikas Nigam Limited (RVNL). This was a 47% increase from then current fiscal year's revised estimates of ₹ 12,045 crore. IRFC will try to raise ₹ 17,276 crore to invest in rolling stocks. RVNL will try to raise ₹ 376 crore by market borrowing. In the fiscal year 2014-15, according to the revised estimates, IRFC raised ₹ 11,772.6 crore, and RVNL raised ₹ 273 crore from the market. [14] Overall {{currency}} – invalid amount (help) crore will be spent on the Railways in the period 2015-19. [15]

Responses

After Railway Minister Suresh Prabhu presented his maiden budget, Prime Minister Narendra Modi tweeted: "Rail budget 2015 is a forward looking, futuristic and passenger centric budget, combining a clear vision and a definite plan to achieve it." Nitin Gadkari, the Transport Minister called the budget reformative. Smriti Irani, Human Resource Minister, praised the budget for considering women's safety. [16] [17]

Rajeev Gowda, spokesperson of the Indian National Congress (INC) said the budget was leaning towards elites. Mallikarjun Kharge of INC said that budget did not clarify how revenues will generated to pay for the promises. [18]

Bihar Chief Minister Nitish Kumar said the budget had many lofty ideas but no action plan. He said that fares should have been cut due to fall in international oil prices. [19] Odisha Chief Minister Naveen Patnaik expressed disappointment due to lack of any special package towards his state and pointed out that Odisha had a much lower rail density than the national average. He said his state was committed on providing free land and 50% of expenses towards railway projects. [20]

India's stock index SENSEX fell 261 points, a drop of 0.90%, after the announcements. [21] Jyotinder Kaur, principle economist at HDFC bank, said that he was unsure of how the funds for the proposals will be gathered as the budget did not mention it. [22]

See also

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References

  1. 1 2 3 "As it happened: Railway Budget 2015". The Hindu . 26 February 2015.
  2. 1 2 3 "Key features of Railway Budget 2015". The Indian Express . 26 February 2015. Retrieved 27 February 2015.
  3. ↑ "Railway Officials Laud 'Humanistic' Side of Budget". The New Indian Express . 27 February 2015. Retrieved 27 February 2015.
  4. ↑ "Railway Budget 2015: No new trains, no hike in passenger fares, freight hiked". Business Standard . 26 February 2015. Retrieved 27 February 2015.
  5. 1 2 3 4 "Rail Budget 2015: What's in it for passengers". Live Mint . 27 February 2015. Retrieved 27 February 2015.
  6. ↑ "Cleanliness, amenities top list as govt says fare enough". The Financial Express (India) . 27 February 2015. Retrieved 27 February 2015.
  7. ↑ "Mobile phone charging facilities in General Class, on-board entertainment on some Shatabdis". IBNLive . 26 February 2015. Retrieved 27 February 2015.
  8. 1 2 "Technology to be tapped for better services". The Hindu . 27 February 2015. Retrieved 27 February 2015.
  9. ↑ "Thumbs-up for CCTV cameras in women's coaches". The Times of India . 27 February 2015. Retrieved 27 February 2015.
  10. ↑ "Benefits for disabled, but some unhappy". The Telegraph (India) . 27 February 2015. Retrieved 27 February 2015.
  11. ↑ "Rail Budget 2015: Railways to build 200-kmph train coaches indigenously". Zee News . 8 February 2015. Retrieved 27 February 2015.
  12. ↑ "Rail Budget 2015: Travel at 200 kmph in a cleaner train". Deccan Chronicle . 27 February 2015. Retrieved 27 February 2015.
  13. ↑ "Freight rate hike to hit key commodities". The Telegraph (India) . 27 February 2015. Retrieved 27 February 2015.
  14. ↑ "Railways to raise Rs.17,655 crore from borrowing". The Hindu . 26 February 2015. Retrieved 1 March 2015.
  15. ↑ "Wanted: Rs 8.56 lakh crore to put railways back on track". DNA India . 27 February 2015. Retrieved 1 March 2015.
  16. ↑ "Prime minister's reaction on Railway budget 2015". India Today . 26 February 2015. Retrieved 26 February 2015.
  17. ↑ "Rail Budget reformative, will change face of railways: Nitin Gadkari". The Economic Times . 26 February 2015. Retrieved 27 February 2015.
  18. ↑ "Rail Budget: Panned by rivals, Prabhu gets pat from his party". Hindustan Times . 27 February 2015. Retrieved 27 February 2015.
  19. ↑ "Rail budget 2015 full of lofty ideas but no action plan: Nitish Kumar". The Economic Times . 26 February 2015. Retrieved 27 February 2015.
  20. ↑ "Patnaik rues no special package for Odisha". The Hindu . 27 February 2015. Retrieved 27 February 2015.
  21. ↑ "Rail Budget disappoints markets; Sensex drops over 261 points". The Hindu . Retrieved 27 February 2015.
  22. ↑ "India aims to invest $137 billion in railways in next 5 years". Reuters . 26 February 2015. Retrieved 27 February 2015.

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