Indian Railways Budget
Indian Railways is an esteemed wealth of the nation and it is the life-line of millions of passengers traveling within India. It is a vast domain of the Indian transport sector and thus, the Indian Railways budget is keenly awaited for by millions of people in the country.
Focus areas for the Indian Railways Budget
The Indian Railways Budget focuses on the following areas of interest:
- Improvement of existing trains
- Improvement of existing routes
- Modernisation of the Indian rail network
- Freight and passenger travel
Important facts related to the Indian Railways Budget
- Discussions are held in Parliament to decide over policies and allocations that have been suggested in the Indian Railway Budget.
- A simple majority is required for Lok Sabha to pass the Indian Railways Budget.
- Comments made by the Rajya Sabha can be considered, but they are not binding in nature.
Who presents the Indian Railways Budget?
It is the Indian Railway Minister who presents the railway budget to the Parliament.
Salient features of the 2008-09 Indian Railways Budget
- 5 % reduction on fares were announced for sleeper class passengers. 5% reduction was also announced for 2nd class passengers traveling a distance beyond 50 kilometers.
- Special discounts and concessions were announced for boys studying in class 12, senior women citizens and AIDS patients
- The budget also announced a cash surplus of Rs. 68,778 crores amassed over a 4 year period.
- Plans were revealed to introduce several new rail lines and trains throughout the country. Some of the trains to be introduced in India include Khajuraho-Delhi Train, Bangalore- Coimbatore Train and Varanasi-Ranchi Train.
In the last 4 year period, the Indian Railways Budget has been impressing a wide cross-section of people residing in India. The presentation of the annual railway budget is now an eagerly awaited event in India.