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Friday, July 03, 2009

Government to provide additional budgetary support of Rs 5,000 crore to Railways

From Rs 10,800 crore in interim budget

The Union Railway Minister Mamata Banerjee presented the 15th Railway Budget in Parliament today, 3 July 2009. This is her first rail budget for the United Progressive Alliance (UPA) government and third in her political career.

In her rail budget speech, Mamata Banerjee said the Government will provide additional budgetary support of Rs 5,000 crore to Railways in 2009-10 and its financing arm Indian Railways Railways Finance Corporation (IRFC) will issue tax-free bonds.

Finance ministry has approved the issue of tax-free bonds by IRFC for the first time after a gap of several years, Mamata Banerjee added while presenting the rail budget for 2009-10

In an interim budget in February, the budgetary support was Rs 10,800 crore, she said.

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