Railway Minister Suresh Prabhu presented the Railway Budget for the 2015-16 financial year in the Lok Sabha on Thursday. Here are some of the key points the minister announced that will impact India Inc:
- Freight rates hiked by 10 per cent for urea, 2.7 per cent for cement and 6.3 per cent for coal.
- 77 new projects to be launched with an investment of Rs 96,182 crore to expand capacity.
- Plan Outlay proposed at Rs 1,00,011 crore, up by 52 per cent.
- Railways will also leverage additional resources; envisages investment of Rs. 8.5 lakh crore in next five years.
- Railways to mobilise resources for higher investment.
- Train Protection Warning System and Train Collision Avoidance System to be installed on select routes.
- Rs 6,581 crore earmarked on level crossing safety, train protection warning system to prevent fires, collision avoiding system.
- 17,000 toilets to be replaced and modernised, vacuum-based toilets on cards, new toilets in 650 railway stations, railways will set up waste management plants.
- 100 diesel-run trains to be enabled for dual fuel - CNG and diesel. Locomotives running on LNG are also currently under development.