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Friday, July 03, 2009

Rail Minister keeps freight rates, passenger fares unchanged

In the Railway Budget for 2009-10

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 for 2009-10, Mamata Banerjee kept rail freight and passenger rates unchanged for the current financial year. The old mindset of economic viability should be substituted by social viability, Banerjee said.

However the Rail Minister raised freight traffic target to 882 metric tonne (mt) for the current fiscal from 850 mt target in FY09. In 2009-10, the Railways is set to pay Rs 5,479 crore as dividend.

She added that private participation would be encouraged for the operation of the freight terminals and 18,000 wagons would be acquired in FY10 vs 11,000 wagons in FY09. The government has approved extension of the eastern corridor up to Dankuni in West Bengal. The Railways would a premium service for container movement.

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