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Mumbai-Ahmedabad to get first Bullet train: D V Sadananda Gowda

July 8, 2014

Bullet

New Delhi, Jul 8: Railway minister DV Sadananda Gowda presented his maiden budget with a recent sharp increase in fares and freight charges.

"We want to make railways people-friendly," Gowda, who had launched a social media platform on Monday for interactions between railways authorities and "netizens", said before presenting the railway budget.

"Passengers are hoping amenities will improve. We will try to fulfil the demands."

Railways Budget

?Budget Highlights:

• Grateful to honourable PM Narendra Modi ji for having given me this opportunity and for entrusting me with this responsibility

• I can get claps from this house by announcing many new projects but that would be rendering injustice to the struggling organization

• The fare revision was tough but a necessary decision - it will bring Indian Railways an additional revenue of 8,000 crores

Increased Funds to Ensure Passenger Amenities and Cleanliness:

Honesty is the first chapter in the book of wisdom

• It gives me immense pleasure to present my first Railway Budget flooded with suggestion for new trains, new railway lines

• We now target to become the largest freight carrier in the world

• Indian railways carry only 31% of the total freight in the country.

• 5 lakh crore required each year for the next ten years for ongoing projects alone

• 23 paisa lost per passenger per km in 2012-13

• Social obligation of Railways in 2013-14 was Rs. 20,000 crore

• Focus on sanctioning projects rather than completing them

• The more projects we add the thinner we spread our resources

• Indian Railways carries more than the entire population of Australia in a day

• Populist projects and mismanagement have brought Railways to point of funds crunch

• This state of affairs in railways needs immediate course correction

• Gross traffic receipts in 2013-14 was Rs. 1.3 lakh crore, operating ratio was 94 per cent

• Indian Railways spent Rs. 41,000 crore on laying of 3,700 km of new lines in last 10 years

• Need to explore alternative sources of resource mobilisation and not depend on fare hike alone

• Large part of the budget outlay to go to safety projects

• Maximum financial outlays for projects slated for completion in this area itself

• High priority areas - safety, cleanliness, passenger amenities and capacity augmentation

• Future projects to be financed on public-private partnership model

• Plans to attract investment from domestic and foreign players in infrastructure; focus to be on aggressive indigenisation

• FY15 Total Expenditure Pegged At Rs.1.49 lakh crore

• FY15 total receipts pegged at Rs.1.64 lakh crore

• Propose to hike budgetary plan outlay to Rs.47,650 crore

• FY15 passenger fare revenue pegged at Rs.44,600 crore

• Pre-cooked meals by reputed brands, focus on cleanliness and passenger feedback

• Outsource cleaning activities at 50 major stations, separate housekeeping wing for cleanliness and sanitation

• CCTVs to be used for monitoring cleanliness

• RO Drinking water at stations and trains

• Corporates encouraged to adopt stations for better maintenance and upkeep

Safety for Women Passengers:

• 17,000 Railway Protection Force personnel to be available soon

• Introduction of women RPF constables, coaches meant for women to be escorted for greater safety

Bullet train:

• Indian Railways on course to fulfill its long cherished dream. I propose a Bullet train on the Ahmedabad - Mumbai sector

• Higher speed for existing trains will be achieved by upgrading the present networks

Reservation system will be revamped:

• Railways to scale down market borrowings to Rs. 11,790 crore

• Reservation system will be revamped and ticket-booking through mobile phones and post offices popularised

• Wi-fi Services in all A Category stations and trains

• To Have Diamond Quadrilateral Network for High-speed Trains

• Digital Reservation Charts at stations

• Parcel traffic separated to requisite terminals, dedicated trains running on fixed timetable

• New design of parcel vans -- measures taken in order to improve earnings from the parcel system

• Special initiatives via the PPP mode for transport of fruits and vegetables and milk

• Bio-diesel upto 5% to be used in diesel locomotives

• 23 projects underway in North-East. Propose to allocate higher funds than previous year for these projects

• Future e-Ticketing to support 7200 tickets per minute and to allow 1.2 lakh simultaneous users

• Dedicated freight corridor projects will be closely monitored

• Experimental stoppages to be reviewed solely on the basis of feasibility and viability after 3 months

• Government to make e-procurement compulsory for procurements over Rs. 25 lakh

• GIS Mapping and digitisation of Railway Land

• 18 new line surveys, 10 surveys for doubling 3rd and 4th lines and gauge conversion.

• Office-on-Wheels; internet and workstation facilities on select trains.

• Setting up of logistic parks, private freight terminals on PPP model

• Connectivity to ports through PPP, procurement of parcel vans and rakes by private parties for resource augmentation

• Will offer wifi-services in all 'A' category trains and A1 stations.

• To have digital reservation charts at stations.

• Working on making railway offices paperless in five years

• e-Ticketing through mobile phones will be popularized.

* Indian railways to become the largest freight carrier in the world.

* Social obligation of Railways in 2013-14 was Rs 20,000 crore.

* Gross traffic receipts in 2013-14 was Rs 12,35,558 crore; operating ratio was 94 per cent.

* Focus in past has been on sanctioning projects rather than completing them, Railway minister says.

* Indian Railways spent Rs 41,000 crore on laying of 3,700 km of new lines in last 10 years.

* Fare revision will bring in Rs.8,000 crore; need another Rs.9,000 crore for golden quadrilateral project.

* Railways also proposes to set up Food Courts at major stations.

* Need to explore alternative sources of resource mobilisation and not depend on fare hike alone, Railway minister says.

* Spend 94 paisa of every rupee earned, leaving a surplus of only 6 paisa.

* With 12,500 trains, railways move 23 million passengers every day; equivalent to moving Australia's population.

* Separate housekeeping wing at 50 major stations.

* CCTV to monitor cleanliness activities.

* Mechanized laundry will be introduced.

* Dedicated freight corridor on Eastern and Western corridors.

* 5400 unmanned level crossing removed.

* Tourist trains to be introduced to link all major places of tourist interests across the country.

* 4,000 women constables to be recruited to ensure safety of women. 17,000 RPF constables to provide safety to passengers.

* Setting up of Railway University for technical and non-technical study.

* Ultrasonic system to detect problem in track.

* Proposal to start Bullet trains in Mumbai—Ahmedabad route. Speed of important trains will be also raised.

* Diamond Quadrilateral project of high speed trains to connect all major metros.

* E-ticketing system to be improved. Future e-ticketing to support 7200 tickets per minute & to allow 120,000 simultaneous users

* Wifi in A1 and A category stations and in select trains. Internet-based platform and unreserved tickets.

* GIS mapping and digitization of Railway Land. Extension of logistics support to various e-Commerce Companies.

* Bulk of future projects will be financed through PPP mode.

* Facilitate transport of milk through rail. Special milk transportation trains in association with Amul and National Dairy Association Board.

* One ticket to reach from Delhi to Srinagar. Uddhampur to Banihal by bus and Banihal to Srinagar by train.

* Mumbai local to get 860 new, state-of-the art coaches. 64 new EMUs to be introduced.

* Train connectivity to Char Dham.

* Paperless office of Indian railways in 5 years. Digital reservation charts at stations.

* Ready-to-eat meals to be introduced in phased manners.

* 27 Express trains to be introduced.

* 5 Jansadharan , 5 Premium AC trains to be introduced.

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News Network
May 7,2020

May 7: Accusing the BJP government in Karnataka of "medieval barbarism" and treating migrants as worse than "bonded labourers", CPI(M) general secretary Sitaram Yechury on Wednesday hit out at the state's decision to stop workers from returning to their homes in different parts of the country citing requirements of the construction sector.

The Karnataka government has withdrawn its request to the railways to run special trains to ferry migrant labourers to their home states, hours after builders met Chief Minister B S Yediyurappa to apprise him of the problems the construction sector will face in case they left.

"This is worse than treating them as bonded labour. Does the Indian constitution exist? Are there any laws in the country? This BJP state government is throwing us back to medieval barbarism. This will be stoutly resisted,” Yechury said in a tweet.

The railways is running Shramik Special trains to ferry to their home towns migrants who were stranded at their places of work during the lockdown.

So far, it has run more than 115 such trains.

The Principal Secretary in the Revenue Department N Manjunatha Prasad, who is the nodal officer for migrants, had requested the South Western Railways on Tuesday to run two train services a day for five days except Wednesday, while the state government wanted services thrice a day to Danapur in Bihar. However, later, Prasad wrote another letter within a few hours that the special trains were not required. Several migrants in the city were desperate to return home as they were out of jobs and money.

Yechury also lashed out at the central government over reports that it owed states and industry Rs 3 trillion and accused the centre of shifting the burden of fighting the pandemic to the state governments.

“While shifting the entire burden of fighting the pandemic on to the State governments, Modi government is not even paying their legitimate dues. After November 2019, Centre has not paid the GST compensation dues for the rest of the financial year, i.e., March 2020.

“Modi government has the right to loot while crores of people & States are left with nothing but the right to starve?,” he tweeted.

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News Network
January 9,2020

Mumbai, Jan 9: India's weddings are famously lavish -- lasting days and with hundreds if not thousands of guests -- but this season many families are cutting costs even if it risks their social standing.

It is symptomatic of a sharp slowdown in the world's fifth-largest economy, with Indians spending less on everything from daily essentials to once-in-a-lifetime celebrations.

Growth has hit a six-year low and unemployment a four-decade high under Prime Minister Narendra Modi. Prices are rising too, squeezing spending on everything from shampoo to mobile data.

Chartered accountant Palak Panchamiya, for example, has already slashed the budget on her upcoming Mumbai nuptials by a third, trimming spending on clothing and the guest list.

"Initially I chose a dress that cost 73,000 rupees ($1,000)," Panchamiya told news agency as she picked through outfits at a recent marriage trade fair.

"But my partner felt it was too expensive, and so now I am here reworking my options and looking for something cheaper."

India's massive wedding industry is worth an estimated $40-50 billion a year, according to research firm KPMG.

The celebrations can last a week and involve several functions, a dazzling variety of cuisines, music and dance performances, and lots of gifts.

Foreigners can even buy tickets to some events.

But these days, except for the super-rich -- a recent Ambani family wedding reportedly cost $100 million -- extravagance is out and frugality is in as families prioritise saving.

"Earlier Indian weddings were like huge concerts, but now things have changed," said Maninder Sethi, founder of Wedding Asia, which organises marriage fairs around the country.

Cracks emerged in 2016 when the Indian wedding season, which runs from September to mid-January, was hit by the government's shock withdrawal of vast amounts of banknotes from circulation in a bid to crack down on undeclared earnings.

Mumbai-based trousseau maker Sapna Designs Studio shut for months as the economy was turned on its head by Modi's move.

"No exhibitions were happening and there were no avenues for us to sell either," said Vishal Hariyani, owner of the clothing studio.

Hopes for a recovery proved short-lived when the cash ban was followed by a botched rollout of a nationwide goods and services tax (GST) in 2017 that saw many small-scale businesses close.

Since then, keeping his studio afloat has been a challenge, with consumers increasingly reluctant to spend too much, says Hariyani.

"We customise our clothes as per their budgets, and now week-long weddings have been converted to just a 36-hour ceremony," he told news agency.

"We have to pay GST, pay workers and even offer discounts to customers," he added.

"The whole economy has slowed down and reduced spending on weddings is a by-product of that. Everyone except the super-rich are affected," Pradip Shah from IndAsia Fund Advisors told news agency.

"It is reflective of how sombre the mood is," he said.

In a country where families traditionally spend heavily on weddings -- including taking on debt in some cases -- the downturn is also a source of sadness and shame, with elaborate celebrations often seen as a measure of social status.

"We haven't even invited our neighbours. It is embarrassing but the current situation doesn't offer us much respite," 52-year-old Tara Shetty said ahead of her son's wedding.

"In my era, we always spent a lot and had thousands of people attending the weddings," she explained.

"My wedding was supremely grand, and now my son's is the polar opposite."

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Agencies
June 22,2020

Mumbai, Jun 22: After downgrading India's outlook to negative from stable, Fitch Ratings on Monday revised the outlook on nine Indian banks to negative.

The outlook on the Long-Term Issuer Default Ratings (IDR) was revised to negative from stable due to the banks' high dependence on the Centre to re-capitalise them.

Accordingly, the IDR outlook of the Export-Import Bank of India, the State Bank of India, the Bank of Baroda, the Bank of Baroda (New Zealand), the Bank of India, the Canara Bank, the Punjab National Bank, ICICI Bank and Axis Bank Ltd have been downgraded to negative.

"At the same time, Fitch has affirmed IDBI Bank Limited's (IDBI) IDR while maintaining the outlook at negative," Fitch said in a statement.

The rating actions follow Fitch's revision of the outlook on the 'BBB-' rating on India to negative from stable on June 18, due to the impact of the escalating coronavirus pandemic on India's economy.

"The IDRs for all the above Indian banks are support-driven and anchored to their respective SRFs," the statement said.

"They are based on Fitch's assessment of high to moderate probability of extraordinary state support for these banks, which takes into account our assessment of the sovereign's ability and propensity to provide extraordinary support."

According to the statement, the negative outlook on India's sovereign rating reflects an increasing strain on the state's ability to provide extraordinary support, due to the sovereign's limited fiscal space and the significant deterioration in fiscal metrics due to challenges from the COVID-19 pandemic.

"The rating action does not affect the banks' Viability Rating (VR). EXIM does not have a VR as its role as a policy bank makes an assessment of its standalone credit profile less meaningful."

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