Railway Minister Mamata Banerjee on Friday set an ambitious goal of enhancing the sundry earnings to Rs 4,060 crore in 2011-12.
The target for sundry earnings has been increased to Rs 3,530.34 crore in 2010-2011 on account of development of railway land from the budgeted target of Rs 3,170.81 crore.
The budget estimate for 2011-12 for other coach earnings has been pegged at Rs 2,903 crore while for 2010-2011, it has been revised to Rs 2,596.30 crore from a budget estimate of Rs 2,778.34.
“The gross earnings have been fixed at Rs 94,742 crore, which is Rs 177 crore higher than the budget. With the reduced traffic suspense clearance of Rs 98 crore, gross traffic receipts are higher than the budget target by Rs 75 crore at Rs 94,840 crore,” Banerjee said.
The sundry earnings target for 2010-2011 was enhanced on the back of Rs 300 crore from the development of railway land. However, another Rs 600 crore is expected in 2011-12.
“The testing times for the railways continue in 2010-11 owing to the impact of allowances and several post-budgetary factors,” Banerjee said, adding, disruption of railway services has resulted in a loss of nearly Rs 1,500 crore and an additional Rs 2,000 crore because of the ban on export of iron ore.
Banerjee said for the first time in the history of Indian Railways, the earnings would exceed Rs 1 lakh crore.
|WHERE’S THE MONEY?|
|Other coaching earnings||2,235.12||2,778.34||2,596.30||2,903.00|
|Sundry other earnings||2,879.68||3,170.81||3,530.34||4,060.00|
|In Rs crore *Source: Railway Budget documents|
The outlook on fixed income market should be to continue accumulating at lower levels with a three-month investment horizon
Govt wanted to launch the scheme on October 27, while the industry had requested for October 30