Hello friends, as you know that we are here to interact with the latest Rail Budget 2017–2018, announced by Arun Jaitley today. This is the first time happened that Union budget and rail budget is announced together. Speaking at the presentation, Mr. Jaitley had said he was feeling very confidential to present the first Budget of independent India that contains railways. You need to know about the new updates which can change the future of railways. According to the new updates you can do Free Online Ticket Booking also. So let’s come with me for collecting more acknowledgements of Rail Budget Highlights.
Our Finance Minister Arun Jaitley formulates this budget to keep in mind these four priorities for railways which are Passenger safety, Development work, Cleanliness and Reform in Accounts. Jaitley said that “For passenger safety, a Rashtriya Rail Sanraksha Kosh will be created with a corpus of INR 1 lakh crores over a period of 5 years. Besides seed capital from the government, the Railways will arrange the balance resources from their revenues and other sources.” It is announced by the finance minister that government set down cut guidelines and time lines for executing many safety works through ‘Kosh’. You can check out more interesting facts so come on with this page, created by www.recruitmentinboxx.com ……..
Vital Points Covered In Rail Budget:
- A Rail safety fund with a corpus of Rs 100,000 crore will be created over a period of 5 years
- The service charge on rail tickets booked through IRCTC will be withdrawn.
- As many as 500 rail stations will be made differently abled-friendly by providing lifts and escalators.
- Steps will be taken to launch dedicated trains for pilgrimage and tourism
- A new metro rail policy will be announced. This is expected to open up new jobs for the youth
- At least 25 train stations are expected to be awarded during 2017-18
By 2019, all coaches of the Indian Railways will be fitted with bio-toilets
- Railways will integrate end to end transport solutions for selected commodities through partnerships
- Unmanned railway level crossings to be eliminated by 2020
- A 22% rise in the Railways Budget was announced
Highlights of Rail Budget 2017-2018:
- Prabhu ends rail Budget journey with many firsts
- No service charge on e-tickets; new safety fund to be set up
- Jaitley Gives Priority to the Safety of Passengers
- Fencing Of Delhi-Howrah And Mumbai Routes To Improve Speed
- Rail Budget to focus on safety, infrastructure development
Check Here: Union Budget 2017-2018
New Updates of Rail Budget 2017-2018:
Other new updates made by Arun Jaitley Ji:
- Service charge on e-tickets booked through IRCTC has been withdrawn.
- Elimination of all unmanned level crossings on the broad gauge network by 2020.
- The shares of Railway PSEs like IRCTC, IRFC and IRCON will be listed in stock exchanges.
- Centralized Defense Travel System has been designed to allow defense personnel to book tickets online
- A new metro rail policy will be announced with focus on innovative models of implementation and finance.
- Four priorities for railways are: Passenger safety, Development work, Cleanliness and Reform in Accounts.
Rail Budget 2017-2018:
- By 2019, All Indian Railways coaches will be fitted with Bio-Toilets
- Cashless Railway Bookings have moved up to 68%
- The Union Budget 2017 allocates the fund of Rs 1 lakh crore for Rail safety with a time limit of 5 years.
- No Service charges on rail tickets booked through IRCTC
- Total expenditure allotted for Railways in 2017-18 is Rs 1.31 lakh crore, which includes Rs 55,000 crore to be provided by government.
- Government to list state-run companies like IRCTC, IRFC, and IRCON on stock exchange to unlock the value of these PSUs
- 500 railway stations will be made differently-able friendly by providing lifts and escalators.
Now we are discussing about the main factors related to new budget. Now you are thinking about the target, cost of project, location, changes in railway, Bookings and Tariff, New trains and policies and many things. Don’t you worry because we are here to tell you about each and every details of this budget from target to development so look forward with me!!!!
What is the Target decided in this new budget?
The target of working ratio is at 92 per cent Railways, which is losing both passenger and freight volumes, witnessed its traffic receipts in April-December 2016 down to Rs 1.19 lakh as against Rs 1.34 lakh cr target, a negative growth of more than 11 per cent.
The authority decided to increase train speed up to 160-200 km per hour on major trunk routes which will involve fencing off the Delhi-Howrah and Delhi-Mumbai routes at an estimated cost of Rs 21,000 crore.
What is the Budget allocation?
FM Arun Jaitley said that capital and development expenditure on railways in 2017-18 is to be Rs 1,31,000 crore.
Description of Changes:
The main motive is Passenger safety:
FM Arun Jaitley has proposed a Rashtriya Rail Sanraksha Kosh with a safety fund worth Rs 1 lakh crore over 5 years (20,000 crore per year). He said that clear guidelines for safety will be drawn out. FM Jaitley also said that all unmanned railway crossings will be eliminated by 2020.
New Railway lines:
Finance Minister Arun Jaitley said that railway lines of 3,500 km will be commissioned in 2017-2018. Railways have put up joint ventures with 9 state governments.
Look Opinion Poll: UP Assembly Election 2017
FM Arun Jaitley proposed that at least 25 stations are to be awarded for redevelopment. Around 500 stations will be made disable-friendly.
FM Arun Jaitley proposed to feed at least 7,000 stations with solar power in the medium term and said that a beginning has already been made in 300 stations. He added that work will be taken up for 2000 stations as part of the government’s 1000 Megawatt solar mission. He also said that by 2019, all rail coaches will have bio-toilets.
The finance Minister proposed a coach mitra facility which can be availed to register all coach related complaints at one place.
Bookings and Tariff:
FM Jaitley proposed that service charges on e-tickets booked through the IRCTC website will be withdrawn in an effort to push digital transactions. He said that tariffs will be fixed taking into account cost of other forms of transport. Keeping this in mind, fares can be expected to rise. He also announced that Railway related state-run companies like IRCON and IRCTC to be listed on stock exchanges.
Check Here: Current Members Of Parliament 2017
New Trains and Policies:
FM Jaitley announced that steps will be taken to launch pilgrimage trains. He also said that a new metro rail policy will be put in place.
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