Railway Minister Suresh Prabhu in his first Rail Budget announced a record investment plan of over Rs. 1 lakh crore in 2015-16 while sparing the passengers of a fare hike. The chartered accountant-turned politician also proposed a number of steps to increase passenger amenities. Here are highlights of his speech.
1. Passenger fares, which are heavily-subsidized, have not been increased. The unchanged prices raise concerns that the Budget leans towards populism.
2. Passenger fares are subsidised by freight revenues that are high compared to other countries Freight rates have been hiked for many commodities such as coal and cement. This led to a selloff in markets.
3. Railway Minister Suresh Prabhu did not announce any new trains in the budget, departing from a tradition of laying on new services to politically important constituencies.
4. Investment in the railways will increase to Rs 8.5 lakh crore ($137.32 billion) over the next five years, including funds raised by market borrowing. To meet the five year target, investment will have to speed up more after that.
5. The minister said spending will be focused on improving and expanding existing railway lines, many of which are operating at more than full capacity, with the average speed of the country's best trains a sluggish 70 km (44 miles) per hour.
6. Tickets can now be booked 120 days ahead of travel date, instead of 60 days now.
7. Wi-Fi to be available at 400 railway stations.
8. Surveillance cameras to be introduced in select trains and suburban trains for women safety.
9. SMS alert service to be introduced for arrivals and departures.
10. Toll free number 182 created for security related complaint-Railway helpline number 138 will become operational 24x7.
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