Tuesday, February 26, 2013

Rail Budget 2013: Rs 2,000 crore allotted for land and station development

NEW DELHI: Railway Minister Pawan Kumar Bansal on Tuesday announced the plan to allocate Rs 2,000 crore for land and station development in his rail budget 2013 speech.

Presenting his maiden budget, Bansal said that the losses from railways are estimated at Rs 24,600 crore for the current financial year. Bansal said that while losses on passenger trains continue to mount, railways need to be financially sustainable.

Bansal emphasised that the growth of railways is 'inextricably' linked with the growth of the overall country. Bansal quoted verses from a poem to highlight the 'strength' of the organisation of the Indian Railways. Bansal started his speech with by paying homage to Congress leaders.

There has been a reduction in the number of train accidents, even though passenger and freight volumes have increased, Bansal said. Indian Railways face mounting scarcity of resources, he added.

In a welcome move, Bansal announced a slew of passenger-friendly measures in his railway Budget 2013. While many stations were identified for improving the railway infrastructure, on-board facilities for passengers were also announced.

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