RAILWAY BUDGET 2011-2012

The Union Railway Budget for 2011-12 was presented by the Railway Minister, Ms Mamata Banerjee on February 25, 2011.

No hike in passenger fare and freight rates Highest ever plan outlay of Rs. 57,630 crore (US$ 12.72 billion) proposed for Railways Rs. 9,583 crore (US$ 2.11 billion) provided for new lines 1300 km new lines, 867 km doubling of lines and 1017 km gauge conversion targeted in 2011-12 56 new Express Trains, 3 new Shatabdis and 9 Duronto trains to be introduced

New Super AC Class to be introduced A new portal for e-ticketing to be launched shortly Pan-India multi-purpose smart card 'Go India' to be introduced 236 more stations to be upgraded as Adarsh Stations Feasibility study to raise speed of passenger trains to 160-200 kmph to be undertaken

All state capitals in the North-East except Sikkim to be connected by Rail in next seven years 18,000 Wagons to be procured during 2011-12 2011-12 declared Year of Green Energy for Railways Freight loading of 93 MT and passenger growth of 6.4 per cent estimated for 2011-12

Introduction of 3 new Shatabdis on PuneSecunderabad; Jaipur- Agra and LudhianaDelhi routes. Recruitment of new staff of Group 'C' and 'D' to fill up backlog of SC/ST and 16,000 exservicemen by March 2011. 20 hostels for children of railway employees. Establishment of 1300 MW thermal power plant in AP. Increased EMU coaches (from 9 to 12) of Mumbai suburban system

Start up of 40 new routes covering 1075 km. 2 new double decker train services. Start up of 40 new routes covering 1075 km. Concession for senior citizens increased to 40 percent, handicap in Rajdhani & Shatabdi express. Online ticket booking to get cheaper. Ticket booking charges reduced; Rs 10 for AC and Rs 5 for non AC.

Green energy, green year, green environment with railways. Railways to collaborate with major technology and IT institutes for new technology upgradation in railways. Increased number of trains-from 16100 to 18000. Railways to provide 10000 shelter to poor. Railway factory to be set up in Jammu & Kashmir, Metro coaches factory in Singur.

Introduction of SMS service to lodge complaints. Tax free bonds to be increased to 10,000 crore to improve railway infrastructure. 86 new passenger trains expected. Super class division to challenge airlines. For the North Eastern region; a brand new diesel loco shed is expected to come up in Assam.

IRFC is a dedicated financing arm of the

Ministry of Railways. Its sole objective is to raise money from the market to part finance the plan outlay of Indian Railways. The money so made available is used for acquisition of rolling stock assets and for meeting other developmental needs of the Indian Railways.

The borrowing programme of IRFC is guided by the requirements projected by Ministry of Railways. The company has successfully met the targeted borrowings year after year, through issue of both taxable and tax-free Bonds, term loans from banks/financial institutions and through off shore borrowings. IRFC also makes use of innovative financial instruments to diversify the debt portfolio and to minimize the cost. Its contribution to infrastructure build-up in Railways is very significant.

Till 31st March, 2010, Rolling Stock assets Locomotives, Coaches and Wagons - valued at Rs. 60,163 crore have been added to the asset base of the Indian Railways with funding assistance from IRFC. IRFCs funding has support technology infusion in the Railways and has enabled Ministry of Railways to purchase new generation Locomotives from General Motors (USA) alongwith transfer of technology and new generation Coaches from Germany for use in high speed/Shatabdi trains.

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