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2016 Rail Budget Highlights of Suresh Prabhu speech: Railway Minister Suresh Prabhu presented the Rail Budget 2016-17 today in Parliament and announced a number of initiatives that the Indian Railways will be taking to make the mammoth public sector undertaking work smooth and ensure that the travelling public is provided all the amenities that they aspire for. Importantly, for the travelling public, he announced that he will not hike passenger fares. He said the same is based on common people's aspirations and PM Narendra Modi vision. Check out the Railway Minister speech highlights:
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1. 2016 Rail Budget Highlights of Suresh Prabhu speech: * These are challenging times, toughest time; facing dual headwinds; * Core objective to become engine of economic growth, create empolyment and provide customer service; * Will exploit new sources of revenue beyond tariff revenue; * We have ramped up capital expenditure to remove the huge backlog and provide for future needs; rate of capital expenditure has increased
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2. 2016 Rail Budget Highlights of Suresh Prabhu speech: * Rs 8,720 cr saving in 2015-16 budget in fuel cost like power; * Expect operating ratio of 92 per cent as against 90 per cent in current year; * This year our investment will be Rs 1.21 lakh crore for 2016-17; * Will commission 2,800 km of new tracks in next year; * Railways to generate 9 crore mandays in financial year 2017-18 and 14 crore mandays in 2018-19
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3. 2016 Rail Budget Highlights of Suresh Prabhu speech: * Railways to get Rs 40,000 cr budgetary support from the government; * 2,000 km rail route to be electrified in 2016-17; * Rs 30,000 crore is the loss on subsidising passenger fares; * Railways to shift to completely paperless contract system in 2016-17
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4. 2016 Rail Budget Highlights of Suresh Prabhu speech: * Outlay for railway electrification increased by 50 per cent; 2,000-km route to be electrified next fiscal; * 124 MPs have committed to contribute from MPLADS for passenger amenities; * 17 states agree to form JVs with Indian Railways for construction of rail-over-bridges; * 400 railway stations to be equipped with wifi, 100 this year
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5. 2016 Rail Budget Highlights of Suresh Prabhu speech: * Railway safety record is better this year than previous years but much more needs to be done; * Overnight double-decker train Uday Express to be introduced on busiest routes, carrying capacity to be 40 per cent more; * North-South, East-West dedicated freight corridor proposed in Railway Budget for 2016-17; * Three direct services – fully air-conditioned Humsafer to travel at 130-km per hour; * Bar-coded tickets to be introduced at select stations on pilot basis.
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6. 2016 Rail Budget Highlights of Suresh Prabhu speech: * E-booking of tickets on concessional passes for journalists introduced; * Children menu to be introduced on pilot basis on trains; * 33 pc reservation to women in reserved quota in Railways will be introduced; * 33 pc reservation to women in reserved quota in Railways will be introduced
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7. 2016 Rail Budget Highlights of Suresh Prabhu speech: * Cleaning of coach on demand to be introduced; Disabled enabled toilet in 11 Class-A stations this year; * Railways to increase lower berth quota for senior citizens by 50 per cent: Prabhu; * Railways to increase lower berth quota for senior citizens by 50 per cent: Prabhu; * Ajmer, Amritsar, Gaya, Mathura, Nanded, Nashik, Puri, Tirupati, Varanasi, Nagapattinam and other pilgrim stations to be beautified.
8. 2016 Rail Budget Highlights of Suresh Prabhu speech: * Two elevated suburban railway corridors – Churchgate-Virar and CST-Panvel to be constructed in Mumbai; Ring railway covering 21 stations to be revived with state participation; * Logistics and warehouse parks to be created on PPP mode; * Station development and re-development, monetisation of land to raise rail revenue from non-freight sources. -
9. 2016 Rail Budget Highlights of Suresh Prabhu speech: * India's first railway auto hub in Chennai to be inaugurated soon; * Railways to monetise land on tracks by leasing out for horticulture and tea plantation; * Overnight double-decker trains to be introduced on business rail routes; * Holding company to be explored for monetising assets of Railway companies.
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10. 2016 Rail Budget Highlights of Suresh Prabhu speech: * Railway Board to be re-organised; * Direct procurement of diesel to help save Rs 1,500 crore in 2016-17; * Time-table freight container train to be run on pilot basis; * No changes in passenger fares and freight rates in Railway Budget for 2016-17; * Railways to borrow Rs 18,580 crore in 2016-17 fiscal.
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