Rail Budget 2013 Live: Pawan Kumar Bansal speech highlights no passenger fare hike
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Rail Budget 2013 Live: Indian Railways Minister Pawan Kumar Bansal in Parliament. Here are the Railways Budget speech highlights:
* 67 new express trains to be introduced.
* 27 passenger trains, 9 EMUs to be introduced.
* Dynamic fuel adjustment component to be introduced on freight rates from April one, that will result in less than five per cent increase in rates.
* An independent Rail Tariff Authority has been formalised.
* Deregulation of diesel prices and hike in electricity tariff to result in a burden of Rs 5,100 crore in 2013-14.
* 500-km new lines to be completed in 2013-14.
* Diesel price hike added Rs 3,300 crore to fuel bill of Railways.
* No passenger fare hike for the moment.
* 5 per cent average increase in freight.
* Freight earning to grow by 9 per cent to Rs 93,554 crore.
* Freight target fixed at 1,047 MT for 2013-14, 40 MT over the current year.
* Railway hopes to end 2013-14 with a balance of Rs 12,506 crore.
* Operating ratio expected to improve to 87.8 per cent in 2013-14 from 88.8 per cent in the current fiscal.
* Railway revenues to show a balance of Rs 12,506 crore in 2013-14.
* Planned investment of Rs 63,363 crore for 2013-14, including Rs 600 crore from PPP route.
* Indian Railway Institute for Financial Management to be set up at Secunderabad to train rail officers on a regular basis.
* Rs 3,000 crore loan from Finance Ministry re-paid with interest by Railways this financial year.
* Railways to set up a Debt Service Fund.
* Railways' freight loading traffic scaled down by 100 million tonnes from 1025 million tonnes because of economic slowdown.
* 5.2 per cent growth in passenger traffic expected in 2013-14.