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Friday, July 03, 2009

PM lauds Mamata's Rail Budget

Says she has done a highly competent job

Prime Minister Manmohan Singh applauded the Railway Minister Mamata Banerjee shortly after she concluded her budget speech the Parliament today, 3 July 2009. The Prime Minister said that the Railway Minister has done a highly competent job in the time available to her. She has presented a budget which does not impose any burden by way of increase in freight charges or passenger fares, Manmohan Singh added.

Union Rail Minister Mamata Banerjee presented the 15th Railway Budget in Parliament today, 3 July 2009. The Railway Minister presented her ministry's budget for this fiscal with no fare hikes and proposals to introduce 57 new trains, improve passenger amenities and upgrade some 300 stations to global standards.

In her 65-minute speech setting the tone of the third budget of her career and the first for the United Progressive Alliance (UPA) government, she gave top priority to social commitment as opposed to economic viability. She projected a much higher operating ratio, or the money spent to earn Rs 100, at Rs.92.5 or 92.5%, as opposed to 89.9% predicted in the interim budget presented by her predecessor Lalu Prasad and 88.3% achieved last fiscal.

Indian Railways runs the world's second largest railroad network under a single management, with network of 108,706 kilometre, ferrying some 14 million passengers on 7,000 trains daily from 6,906 stations.

It also runs 4,000 freight trains to carry nearly 850 millions of cargo each year. Along with the social commitment involved, the sheer size of the Indian Railways is the reason why it is the only ministry that has a separate budget.

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