Rail Budget 2013-14 Live: Railways to double spend on track electrification
At present, 31% of the 64,000-kilometre railways’ network is electrified.
“Putting electrification target on fast track remains imminent for the railways as in 2012-13, the overall bulk diesel cost went up by over R15 a litre, an increase of over 33%,” said a senior rail board official.
At present, the total fuel bill of railways is around R20,000 crore (R12,500 crore for diesel and R7,500 crore for electricity). Thanks to the increase in diesel prices, the fuel bill will increase by at least 15%.
All new rail track projects are expected to be electrified. The ambitious 3,300-km dedicated freight corridor project being constructed at the cost of Rs.90,000 crore is also going to be 100% electrified.
Rail Budget 2013 Live: Indian Railways Minister Pawan Kumar Bansal in Parliament. Here are the Railways Budget speech highlights:
* No passenger fare hike for the moment.
* Dynamic fuel adjustment component to be introduced on freight rates from April one, that will result in less than five per cent increase in rates.
* An independent Rail Tariff Authority has been formalised.
* Deregulation of diesel prices and hike in electricity tariff to result in a burden of Rs 5,100 crore in 2013-14.
* 500-km new lines to be completed in 2013-14.
* Diesel price hike added Rs 3,300 crore to fuel bill of Railways.
* 5 per cent average increase in freight.
* Freight earning to grow by 9 per cent to Rs 93,554 crore.
* Freight target