Railway Budget 2016 – 2017:Passengers Earnings Growth has been Pegged at 12.4%
Gross Traffic Receipts have been Kept at Rs 1,84,820 Crore
Passenger Earnings Growth has been Pegged at 12.4%
Freight Traffic is Pegged at Incremental Traffic of 50 Million Tonnes
Goods Earnings Proposed at Rs 1,17,933 Crore
Rs 1,23,560 Crore is Proposed for Ordinary Working Expenses in be 2016-17
Pension Outgo has been Budgeted at Rs 45,500 Crore in 2016-17
Plan Size of Rs 1,21,000 Crore in 2016-17 Proposed
The Minister of Railways, Shri Suresh Prabhakar Prabhu while presenting the Railway Budget 2016-17 in Parliament today placed the Budget estimates for 2016-17. Railway Minister said that the intention in 2016-17 is to improve revenues and ensure appropriate investments which can continue the road-map of decongestion and enhance line-capacity enhancement as detailed in 2015-16. The focus is on enhanced CAPEX with a mix of various sources of funding in order to ensure that the projects are given assured funding.
The Railway Minister said that the Gross Traffic Receipts have been kept at Rs 1,84,820 crore. Passenger earnings growth has been pegged at 12.4% and earnings target has accordingly been budgeted at Rs. 51,012 crore. The freight traffic is pegged at incremental traffic of 50 million tonnes, anticipating a healthier growth in the core sector of economy. Goods earnings is accordingly proposed at Rs 1,17,933 crore. Other coaching and sundries are projected at Rs 6,185 crore and Rs 9,590 crore respectively. Under Ordinary Working Expenses (OWE), apart from providing for normal growth, provisions required for the implementation of the 7th CPC has been made. Rs 1,23,560 crore is proposed for OWE in BE 2016-17 from the current revenues, which includes Rs 3,000 crore as credit amount to be met through withdrawal from the Railway Debt Service Fund (DSF). Taking note of likely impact of 7th CPC, the pension outgo has been budgeted at Rs 45,500 crore in 2016-17 Higher staff cost and pensions liability impacts the internal resource position of the Railways. Accordingly, appropriation to DRF from revenue has been placed at Rs 3,200 crore and that from Production Units at Rs 200 crore. A withdrawal of Rs 3,160 crore form DRF on net basis has basis has been proposed though the gross expenditure to be met6 from DRF in the Annual Plan is estimated at Rs 7,160 crore. Rs 5,750 crore is proposed to be appropriated to the Capital fund. With a draw-down of Rs 1,250 crore from previous balances in the fund, the plan requirement of Rs 7,000 crore for repayment of the principal component of lease charges to IRFC is proposed .
Shri Suresh Prabhu proposed a Plan size of Rs 1,21,000 crore in 2016-17.
Source : PIB News