26Feb

Rail Budget 2015-16 India Preview : Focus resurrection of Railways

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Rail Budget preview 2015-16

Rail Budget 2015-16 would act as an enabler in beginning the process of resurrecting Indian Railways, which has been ailing due to varied reasons ranging from policy to operations. One of the most prominent focus issues for the new government would be the financial restoration of the national carrier: Indian Railways (IR). IR with nearly 64,460 km route length is the fourth largest network in the world, operating close to 19000 trains a day and transporting about 2.65 million tonnes (MT) of freight traffic and 23 million passengers. However, over the decades severe red tape and populist measures have taken their toll on the carrier with monumental losses and operational inefficiencies creeping into the system. According to recent data, railways is reeling under huge losses in its passenger segment of nearly | 24,600 crore in FY13, up 9%, from | 22,500 crore in FY12 and needs concrete steps to overhaul both its finance and operations. With a dismal operating ratio of 90.8% in FY14 (RE) it is imperative for railways to modernise its network and improve its yield in the passenger segment. We believe the Railway Budget 2015-16 will focus on enhancing safety and services by driving better internal generation of resources (fare hike in June 2014 is a step in that direction). The hike in railway fares would provide a buffer to the Railway Minister through which he would be able to spend on better amenities for passengers and somewhat enhance IR capacity through capex to improve the operational efficiency of existing network.

26Feb

आज आएगा रेल बजट, सुरेश प्रभु का पहला रेल बजट

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आज पूरे देश को जोड़ने वाली रेलवे का बजट आने वाला है। खबरों के मुताबिक यात्री किराए में बढ़ोतरी के आसार काफी कम हैं, लेकिन सुरक्षा के अलावा एफडीआई और पीपीपी के जरिए निवेश को बढ़ाने की कोशिश हो सकती है।

इस बार के रेल बजट में यात्री और माल भाड़ा बढ़ने की उम्मीद कम है। लेकिन रेल मंत्री रेल लाइनों की डबलिंग और ट्रिपलिंग, सुरक्षा के लिए हेल्पलाइन जैसे ऐलान करने जा रहे हैं। साथ ही रेलवे में निवेश बढ़ाने के लिए पीपीपी के अलावा स्पेशल पर्पज व्हीकल (एसपीवी) के जरिए राज्य सरकारों की भूमिका पर जोर दिया जा सकता है। इसके साथ ही रेलवे की जमीन के कमर्शियल इस्तेमाल पर भी जोर दिया जा सकता है। यहां कल के रेल बजट पर खास चर्चा की जा रही है।

भारतीय रेल 64,460 किलोमीटर लंबा रूट जो दुनिया का चौथा सबसे बड़ा रेलवे नेटवर्क है। भारतीय रेल से रोज 26.5 लाख टन माल की ढ़ुलाई होती है। और रोज 2.3 करोड़ यात्री भारतीय रेल से सफर करते हैं।

भारतीय रेल की सेहत की बात करें तो वित्त वर्ष 2014 में यात्री सेगमेंट में इसको 30,000 करोड़ रुपये का घाटा हुआ है। मार्च 2014 तक  भारतीय रेल को प्रति यात्री 23 पैसे प्रति किलो मीटर का घाटा उठाना पड़ा है। छठे वेतन आयोग की सिफारिशों से भारतीय रेल पर 70,000 करोड़ रुपये का अतिरिक्त बोझ बढ़ा है। भारतीय रेल को अपने 359 अधूरे प्रोजेक्ट पूरे करने के लिए 1.8 लाख करोड़ रुपये की जरूरत है। इसके साथ ही गोल्डेन क्वॉड्रिलेट्रल प्रोजेक्ट पूरा करने के लिए इसको 9 लाख करोड़ रुपये की जरूरत है।

25Feb

Union Budget 2015-16 India Suggestion : FM needs to kickstart investment cycle

India today requires an accelerated rate of economic growth because we require jobs. We require 10 million jobs a year for the next 10 years. How do we kickstart investments, that is the question and with that in mind we have talked about giving incentives or making it easier for investments to happen so that it becomes viable.

So one side is the investment, but the other side we have also said one must move towards increasing consumption and savings and for that we have recommended instead of Rs 2.5 lakh as cut-off for income tax, please raise that. Please give other benefits to individuals who can have savings or have money for investments.

So we have to look at both sides but the objective is in the national interest of what is good for the growth of the economy so that we can provide jobs for our 10 million jobs a year for the next ten years and we have to give that a kickstart.

25Feb

Union Budget 2015-16 India Update : Fiscal reforms to determine ratings: Moody’s

Moody’s Investors Service said on Wednesday that its assessment of India’s credit ratings will be determined mainly by the extent of its fiscal reforms, not recent revisions to its economic growth data.

The comments come a day after rival Standard & Poor’s said India must boost growth, cut its fiscal deficit and fulfil promises of financial and fiscal reforms in order to justify an upgrade in its credit rating.

The Government on Saturday will present its Fiscal Budget for the new fiscal year starting in April amid high hopes that it will find a way to boost capital spending while exercising fiscal restraint.

“The upward revisions of India’s GDP growth based on methodological and base year updates – highlight the strength of the economy, but do not impact Moody’s overall assessment of the sovereign’s credit profile,” the agency said.

“Rather, fiscal and structural reform policies will determine the extent to which accelerating growth will buttress the sovereign credit profile.”

Moody’s added that rising private external debt levels and banking sector challenges will also continue to pose sovereign credit risks.

India this month changed the way it measures Asia’s largest economy and said under the new methodology the economy expanded 7.5 percent year-on-year during the last quarter, higher than 7.3 percent growth recorded by China in the latest quarter.

As a result, Moody’s said it now expected 7.5 percent growth for the year ending in March 2015.

However, the new government readings have left economists confused as it is at odds with other indicators such as industrial production, trade and tax collection figures, which suggest the economy is still suffering from slack.

Moody’s rates India at “Baa3”, the lowest investment grade rating, with a “stable” outlook. That is in line with S&P and Fitch Ratings.

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