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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
February 2,2020

Feb 2: Prime Minister Narendra Modi’s second budget in seven months disappointed investors who were hoping for big-bang stimulus to revive growth in Asia’s third-largest economy.

The fiscal plan -- delivered by Finance Minister Nirmala Sitharaman on Saturday -- proposed tax cuts for individuals and wider deficit targets but failed to provide specific steps to fix a struggling financial sector, improve infrastructure and create jobs. Stocks slumped as a proposal to scrap the dividend distribution tax for companies failed to impress investors.

"Far from being a game changer, the budget provides little in terms of short-term growth stimulus,” said Priyanka Kishore, head of India and South East Asia economics at Oxford Economics Ltd. in Singapore. “While income tax cuts will provide some relief on the consumption front, the multiplier effect is low and the overall stance of the budget is not expansionary."

India has gone from being the world’s fastest-growing major economy three years ago, expanding at 8%, to posting its weakest performance in more than a decade this fiscal year, estimated at 5%.

While the government has taken a number of steps in recent months to spur growth, they’ve fallen short of spurring demand in the consumption-driven economy. Saturday’s budget just added to the glum sentiment.

Okay Budget

“It’s an okay budget but not firing on all cylinders that the market was hoping for,” said Andrew Holland, chief executive officer at Avendus Capital Alternate Strategies in Mumbai.

The government had limited scope for a large stimulus given a huge shortfall in revenues in the current year. The slippage induced Sitharaman to invoke a never-used provision in fiscal laws, allowing the government to exceed the budget gap by 0.5 percentage points. The result: the deficit for the year ending March was widened to 3.8% of gross domestic product from a planned 3.3%.

On Friday, India’s chief economic adviser Krishnamurthy Subramanian said reviving economic growth was an “urgent priority” and deficit goals could be relaxed to achieve that. The adviser’s Economic Survey estimated growth will rebound to 6%-6.5% in the year starting April.

The fiscal gap will narrow to 3.5% next year, as the government budgeted for gross market borrowing to rise marginally to 7.8 trillion rupees from 7.1 trillion rupees in the current year. A plan to earn 2.1 trillion rupees by selling state-owned assets in the year starting April will also help plug the deficit.

Total spending in the coming fiscal year will increase to 30.4 trillion rupees, representing a 13% increase from the current year’s budget, according to latest data.

Key highlights from the budget:

* Tax on annual income up to 1.25 million rupees pared, with riders

* Dividend distribution tax to be levied on investors, instead of companies

* Farm sector budget raised 28%, transport infrastructure gets 7% more

* Spending on education raised 5%

* Fertilizer subsidy cut 10%

Analysts said the muted spending plan to keep the deficit in check will lead to more downside risks to growth in the coming months.

“It is very doubtful that the increase in expenditure will push demand much,” Chakravarthy Rangarajan, former governor at the Reserve Bank of India told BloombergQuint, adding that achieving next year’s budget deficit goal of 3.5% of GDP was doubtful.

With the government sticking to a conservative fiscal path, the focus will now turn to central bank, which is set to review monetary policy on Feb. 6. Given inflation has surged to a five-year high of 7.35%, the RBI is unlikely to lower interest rates.

What Bloomberg’s Economists Say:

The burden of recovery now falls solely on the Reserve Bank of India. With inflation breaching RBI’s target at present, any rate cuts by the central bank are likely to be delayed and contingent upon inflation falling below the upper end of its 2%-6% target range.

-- Abhishek Gupta, India economist

Governor Shaktikanta Das may instead focus on unconventional policy tools such as the Federal Reserve-style Operation Twist -- buying long-end debt while selling short-tenor bonds -- to keep borrowing costs down.

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News Network
June 20,2020

New Delhi, Jun 20: A rare celestial event, annular solar eclipse, which is popularly known as the "ring of fire" eclipse, will be visible this Sunday in India.

It will be the first solar eclipse of this year takes place on the summer solstice, which is the longest day in the Northern Hemisphere.

While people living along the path annular eclipse passing through Anupgarh, Suratgarh, Sirsa, Jakhal, Kurukshetra, Yamunanagar, Dehradun, Tapowan and Joshimath will be able to see the annular phase, people in rest of India can witness a partial eclipse, said the Ministry of Science and Technology.

When Moon comes between the Sun and Earth, the shadow falls on the surface of the Earth. The Sun is entirely covered by the Moon for a brief period. Those places that are engulfed by the dark, dense umbral shadow of the Moon experience the total solar eclipse. In the regions that plunge into the soft diffused penumbral shadow of the Moon experience the partial eclipse.

"Annular solar eclipse is a particular case of the total solar eclipse. Like the total solar eclipse, the Moon is aligned with the Sun. However, on that day, the apparent size of the Moon happens to be a wee smaller than the Sun. Hence the Moon covers the central part of the Sun, and the rim of the Sun appear like a 'ring of fire' in the sky for a very brief moment" explains Samir Dhurde of The Inter-University Centre for Astronomy and Astrophysics, Pune.

During the solar eclipse, the apparent size of the Moon is smaller than that of the Sun by 1 per cent, the expert said.

Allying rumours that the eclipse will mark the end of coronavirus, Aniket Sule, Chairperson, Public Outreach and Education Committee of the Astronomical Society of India, said: "Solar eclipse is caused when the Moon comes in front of the Sun for a short time. As seen from Earth eclipses occur somewhere in the Earth 2 to 5 times a year. Eclipses do not impact microorganisms on Earth. Likewise there no danger in eating of stepping out during an eclipse. No mysterious rays come out of the Sun during an eclipse."

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Agencies
August 5,2020

Ayodhya, Aug 5: After laying the foundation stone for the Ram temple in Ayodhya on Wednesday, Prime Minister Narendra Modi termed the 'bhoomi pujan' event as an "emotional moment" for the entire country and added that "every heart is illuminated today".

"Every heart is illuminated; it is an emotional moment for the entire country... A long wait ends today... A grand temple will now be built for our Ram Lalla who had been living under a tent for many years," said Prime Minister Modi at foundation stone-laying ceremony of the Ram temple.

"With the construction of this temple, not only history is being made, but is being repeated. 

The way boatmen to tribals helped Lord Ram, the way children helped Lord Krishna lift Govardhan mountain, similarly, with everyone's efforts temple construction will be completed," he added.

Earlier today, Prime Minister Modi conducted 'bhoomi pujan' for the construction work of Ram temple.

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