FM Mr. Jaitley to move forward on the Financial Sector Legislative Reforms Committee (FSLRC) to adopt Indian Financial Code after talks with stakeholders. The RBI is bitterly opposed to some steps – especially shifting the powers of Governor to a monetary policy committee where the finance ministry has more nominees. Indian Depository Receipts to be revamped. Insurance sector regulations to be improved.
Consolidation of banks – government will consider it. But this means nothing till he actively promotes it. But a big change is banks will be allowed to raise long-term funds with no CRR/SLR obligations. This means more funds will flow to infrastructure sector. Six debt recovery tribunals also to be set up to improve banks’ bad loans situation.
Key to budget subsidies. Gas grid to be built for another 15,000 km, double current level. Royalty rates on minerals to be revised this year.
To enhance network around Bangalore, neighbouring towns
Some stations to be developed to international standards through PPP model: Gowda
To ensure safety, provision of Rs 1,785 crore for road-over/under bridges, multi-pronged approach to eliminate unmanned level crossings.
Future e-Ticketing to support 7200 tickets per minute and to allow 1.2 lakh simultaneous users: Rail Minister
Wi-Fi in A-1 and A category stations and in select trains: Rail Minister
Setting up of Railway University for technical and non-technical subjects. Tie-up with technical institutions.
Railways plans to increase speed of trains to 160 to 200 km per hour in nine select sectors
Gowda announces decision to launch diamond quadrilateral of high speed trains
Ladies’ coaches to be escorted by women RPF constables; additional care for ladies travelling alone, says Railway Minister
To boost fruit, vegetables transport via AC storage spaces
Bullet train proposed on Mumbai-Ahmedabad sector
4,000 women constables to be inducted to enhance onboard safety: Railway Minister
Outsourcing at 50 major stations; onboard housekeeping to be extended to more trains; Launching feedback service through IVRS on the quality of food; Food can be ordered by SMS and phone
Resource mobilisation through leveraging PSU resources, Foreign Direct Investment and Public Private Participation: Rail Minister
Recent fare and tariff hike to mop additional revenue of about Rs 8,000 crore
Reservation system will be revamped and ticket-booking through mobile phones and post offices popularised: Gowda.
Budget allocation for cleanliness up by 40 per cent over the last year.
Retiring room facility to be extended to all stations: Gowda.
Computer workstations on select trains upon payment
The Indian Railways carry 23 million passengers a day, over 1 billion tonnes of freight every year.
Trains that run in India are capable to move the entire population of Australia.
Target to become the largest freight carrier of the world
Indian Railways spent Rs 41,000 crore on laying of 3,700 km of new lines in last 10 years.
Gross traffic receipts in 2013-14 was Rs 12,35,558 crore; operating ratio was 94 per cent, says Gowda presenting Rail Budget
Social obligation of Railways in 2013-14 was Rs 20,000 crore: Gowda said.
Populist projects and mismanagement have brought Railways to point of funds crunch: Gowda
This state of affairs in railways needs immediate course correction: Gowda
Need to explore alternative sources of resource mobilisation and not depend on fare hike alone: Rail Minister
Recent fare revision to net Rs 8,000 cr to Railways
Of the 676 projects sanctioned, only 356 remain completed
FDI in railway projects, except in operations, to be attracted: Gowda.
Future projects to be financed on public-private partnership model: Gowda