Interim Railway Budget 2014-15

• 
• Union railway minister Mallikarjun Kharge presented the Interim Railway Budget 2014-15, the last to be presented by the UPA II government on Wednesday.

Here are the highlights of the Interim Railway Budget:

• No increase in passenger fares and freight charges
• Independent Rail Tariff Authority is being set up to rationalize fares and a proposal to expand dynamic pricing of tickets in line with the airline industry.
• The launch of 17 new premium trains, 39 express trains, ten passenger  trains and, four MEMU and three DMU trains in the coming year and providing rail connectivity to Katra and Vaishnodevi in Jammu and Kashmir, and Meghalaya and Arunachal Pradesh in the Northeast.
• FDI being enabled to foster creation of world-class rail infrastructure; several PPP projects in pipeline
• Rail infrastructure by cost sharing with governments of Karnataka, Jharkhand, Andhra Pradesh and Haryana
• Rail Land Development Authority has raised Rs. 937 crores so far
• Operating ratio likely to be 90.8 per cent; Railways will end current year with surplus
• Electrification of 4,556 km railway line completed against a target of 4,500 km
• Target of doubling gauge was also surpassed: 2,227 km was completed against a target of 2,000 km
• Railways to encourage transportation of milk
• Steps to reduce running of empty freight carriages
• Bio-toilet facility to be provided in more trains

Related information

RTA (Rail tariff authority)- The Authority will not only consider requirements of the Railways but also engage with all stakeholders to usher in a new pricing regime through a transparent process.

• The RTA is expected to lead an era of rationalisation of fares and freight structures for improving the fare-freight ratio and gradually brining down cross subsidisation between different segments.
• According to Railways, this would go a long way towards improving the financial health of the national transporter which will lead to growth to match expectations of the nation and provide stability by minimising volatility of market condition.