Taking a proactive step, the Indian Railways will set a time line next month for borrowing R20,594 crore. This would include R10,000 crore to be raised through tax-free bonds, a facility which the finance ministry allowed the national transporter to use, after almost a decade.
Banerjee announced 47 additional services on Thane-Vashi, Thane-Panvel, Borivali-Virar, Andheri-Virar, Bandra-Virar and Churchgate-Borivali sections.
Once implemented, the system would help passengers get the precise location of their train on the move, Vyas said.
Indian Railways was in the red during the first nine months of the current fiscal.
Mamata Banerjee on Friday announced plans to add 1,300 km to the 64,000-km network of Indian Railways, 56 more express trains and showed a Plan outlay of R57,630 crore in her third budget in the UPA government.
The UN Security Council was to meet on Friday to discuss a draft proposal for sanctions against Libyan leaders, locked in a bloody battle for survival against a popular uprising.
Rail operations managers brought glory to Rly minister by reaching the earnings target.
Railway minister Mamata Banerjee announced she has received 85 public-private partnership proposals, but forgot to say what happened to the Amit Mitra Committee to examine a viable PPP model which she had appointed last year.
The annual Plan of 2011-12 envisages the highest-ever planned investment in the railways at R57,630 crore.
Among the slew of initiatives announced by railway minister Mamata Banerjee in the Budget for 2011-12, foremost are expansion of the rail network, modernisation of safety, and security and welfare of railways employees.