Rail Budget 2017
Know- What are the changes made in Railways according to the Rail Budget 2017!!! The Indian Finance Minister Arun Jaitley has announced various exciting changes in Railways like No IRCTC Service Charge, Abled-Friendly Stations and many more. This is the very first time when the Rail Budget is merged with the Union Budget. All the highlights of Rail Budget 2017 which is presented on 01-02-2017 in the Lok Sabha are available in this article along with complete description.
According to the present budget Indian Railways focused on four extensive subjects that is safety, capital and development focus, financial accounting transformation and Swachhh railways. FM Arun Jaitley said that Indian Railways will commence alternative steps to superior be against other modes of transport. Entire highlights of Rail Budget 2017 are presented below:
Rail Budget 2017
Highlights of the Railway Budget 2017-18
- A Rail safety fund with an amount of Rs 100,000 crore will be formed over a period of 5 years
- The service charge on rail tickets booked through IRCTC will be withdrawn.
- As many as 500 rail stations will be made differently abled-friendly by granting lifts and escalators.
- Steps will be taken to begin dedicated trains for pilgrimage and tourism
- A new metro rail policy will be declared. This is predictable to open up new jobs for the youth.
- At least 25 train stations are likely to be awarded during 2017-18
- By 2019, all coaches of the Indian Railways will be fitted with bio-toilets
- Railways will incorporate end to end transport solutions for selected commodities through partnerships
- Unmanned railway level crossings to be removed by 2020
- A 22% increase in the Railways Budget was announced.
Description Of Indian Rail Budget
Great fund is allocated to the Indian Railways according to the FM Arun Jaitley. Here is the description of highlights of FM Arun Jaitley’s Union Budget 2017:
In the year 2017-18, the capital and development expenditure on railway is to be Rs 1,31,000 crore which comprise Rs 55,000 crore offered by the Government.
For the safety of passengers, FM Arun Jaitley has projected a Rashtriya Rail Sanraksha Kosh with a security fund of Rs 1 lakh crore over the period of 5 years (20,000 crore annualy). He said that comprehensible rules for safety will be drawn out. FM Jaitley also said that all unmanned railway crossings will be eliminated by 2020.
New Railway Lines:
In 2017-2018, the railway lines of 3,500 km will be commissioned. Railways have raise joint ventures with 9 state governments.
It is announced by the Finance Minister Arun Jaitley that at least 25 stations are to be awarded for station redevelopment and approximately 500 stations will be made differently abled-friendly by providing lifts and escalators.
FM Arun Jaitley planned to supply at least 7,000 stations with solar power in the middle term and said that a foundation has already been made in 300 stations. He also said that work will be continued for 2000 stations as element of the government’s 1000 Megawatt solar assignment. He also said that by 2019, all rail coaches will have bio-toilets.
A coach mitra facility is proposed by the Finance Minister Arun Jaitley. This facility is a single window interface which can be availed to record all the complaints and grievances relevant to coach at one place.
Bookings and Tariff:
FM Jaitley said that e-tickets booked through the IRCTC website will be free of service charges. This is an attempt to push digital transactions. He said that taxes will be fixed taking into account cost of other forms of transport. Keeping this in mind, fares can be expected to rise. He also declared that Railway associated state-run companies like IRCON and IRCTC to be listed on stock exchanges.
New Trains And Policies:
FM Arun Jaitley announced that steps will be taken to initiate pilgrimage trains. He also said that a new metro rail policy will be put in place. A new Metro Rail Act will be passed by rationalizing the accessible laws. This will assist greater private contribution and investment in construction and operation.
Additionally, Railways will apply end to end incorporated transport solutions for select merchandise through partnership with logistics players, who would offer both front and back end connectivity. Systematic stocks and practices will be adapted to transport consumable goods, especially agricultural products. As part of accounting transformations, accumulation based financial statements will be rolled out by March 2019.