Rail Budget 2016-17: Expectations and Promises For Indian Railway : The second Railway Budget 2016-17 of Suresh Prabhu set to present at noon today. He had already left from his residence for Rail Bhawan in Delhi around 11.05 am according to the sources.
Suresh Prabhu has said that rail Budget has been prepared keeping in view aspirations, needs and concerns of people of the nation. Parliamentary Affairs Minister Venkaiah Naidu said; “it’ll be a good Budget and in benefit of the nation.
This time Railway Minister may offer more culinary options for passengers in his Rail Budget today. He is also considering a greater focus on tie-ups with local vendors for offering such a choice to travelers, as a part of an attempt to booster e-catering.
Railway Minister’s good work got a boost last year, when he resisted the temptation of announcing new trains and projects. But this year it is going to be tough for him in maintaining finanace and expectations of the people.
Here is a list of top most Priority for this Rail Budget:
- Salary Hike: Railway Minister needs to provide an extra Rs 28,450 crores in wage bill to implement the recommendations of the Seventh Pay Commission for 2.6 million railway employees and pensioners.
2. Budgetary Allocation: Rail Minister is unlikely to get big assistance from the Finance Ministry by way of budgetary support. Last year, Arun Jaitely had provided Rs 40,000 crore for railways.
3. Train Fares: A sharp hike in passenger’s fares may not be possible ahead of four state elections. Moreover, railway needs to cut down the rise in AC fares as it faces tough competition from the airlines.
4. Premium Trains: There is possibility that Rail Minister may increase funds for running more premium trains on higher fares in popular and busy routes.
5. Make in India: The strategic projects like dedicated Freight Corridor, announcement on north and south freight corridors and Diamond Quadrilateral project, would be watched.
6. Bullet Train: Rail Minister may give more details about India’s first bullet train project on Ahmedabad-Mumbai route. The Rs 98,000 crore project will get 80% funding from Japan.
7. Safety: Last but not the least, initiatives may be taken by Mr. Prabhu this time for security of trains and reduce train accidents and to ensure more safety of passengers.