Highlights of Railway Budget 2014-15 (Part-II)

Railway Minister Sadananda Gowda on Tuesday presented the Railway Budget for fiscal 2014-15 in the Lok Sabha.

The highlights are as follows:

. In the last ten years 99, new line projects were sanctioned, out of which only one project is complete, there are four projects that are as old as 30 years

. If this trend is allowed to continue it would lead to the spending of many more crores without returns

. Indian Railways spent Rs.41000 crores on laying new lines, and only Rs.18000 crore on doubling of tracks though it was a priority over new lines

. Indian Railways is starved of funds despite 100 percent advance payment by customers

. Time to take corrective actions, fare revision was one such step

. Fare revision will bring in Rs.8000 crore, but Indian Railway needs more than 9 lakh crores only to complete the golden quadrilateral project

. Need to allow FDI except Railway operations. We need to have Private Public Partnership to improve Railways.

. Need to explore new opportunities. Need to involve private funding in infrastructure development.

. Need Rs.50,000 crore every year for the next ten years for Railways.