HIGHLIGHTS OF RAILWAY BUDGET 1997- Part II

HIGHLIGHTS OF RAILWAY BUDGET, 1997-98
PART - II

BUDGET ESTIMATES, 1997-98

Freight loading of 430 million tonnes.
Passenger traffic estimated to grow by 3% over 1996-97
Gross Traffic Receipts at the current fare and freight rates estimated at Rs.26055 cr. An increase of Rs.1605 cr. over Revised Estimates of 1996-97.
Ordinary Working Expenses estimated at Rs.20935 cr. - An increase of Rs.4785 cr. over the revised estimates of 1996-97 - this is to cover cost of inputs for incremental traffic, expected increase in prices, increase in Dearness Allowance, higher lease charges to Indian Railway Finance Corporation and impact of recommendations of Fifth Pay Commission.
Appropriation to DRF Rs.2000 cr.
Appropriation to Pension Fund Rs.2200 cr. and Rs.300 cr. to be drawn from the balance of Pension Fund.
Total Working Expenses estimated at Rs.25135 cr.
Net Traffic Receipts comes to Rs.920 cr. - Net Miscellaneous Receipts works out to Rs.284 cr.
Net Railway Revenue comes to Rs.1204 cr.
Dividend payable to General Revenues estimated at Rs.1630 cr.
Shortfall of Rs.426 cr.
Internal Resources works out to Rs.1619 cr. at existing fares and freight rates.
Borrowing through IRFC fixed at Rs.2150 cr.
An investment of Rs.900 cr. expected under BOLT/OYW schemes.
Budgetary support from General Exchequer fixed at Rs.1831 cr.
Total resources available for Plan expenditure are Rs.6500 cr.
Annual Plan fixed at Rs.8300 cr.
A gap of Rs.1800 cr. in Plan resources.

Tariff proposals to be effective from 01.04.1997

No increase in fares of Second Class Ordinary and Second Class Mail/Express.
No increase in fares of monthly and quarterly Season Tickets for Second Class and First Class for all distances.
No increase in platform tickets charges.
The rates of platform tickets not increased.
5% increase in fares of Sleeper Class (Mail/Express/Ordinary) for all distances.
10% increase for all distances in respect of the following classes of travel:

Air Conditioned First Class

Air Conditioned 2-Tier Sleeper

Air Conditioned 3-Tier Sleeper

Air Conditioned Chair Car, and

First Class (Mail/Express/Ordinary)

The fares of Shatabdi Expresses and Rajdhani Expresses including August Kranti Expresses to be revised suitably.
Catering will be provided from 01.04.97 in Hazrat Nizamuddin - Trivandrum, Hazrat Nizamuddin - Bangalore and Hazrat Nizamuddin - Jammu Tawi Express. Charges will be included in the fare itself as in other Rajdhani Expresses.
A surcharge of 20% on parcel and luggage rates in superfast trains.
No increase in newspaper and magazine rates.

Proposals in regard to freight rates

Freight rates of all commodities raised by 12% for all distances.
Following commodities are exempted:
Foodgrains and Pulses, Edible Salt, Edible Oils, Urea as Chemical Fertilizer, Kerosene, Sugar, Liquified Petroleum Gas, Fruits fresh including Bananas and Vegetables, Fodder other than Oil Cakes, Livestock, Oil Seeds, Organic manures, Gur, Shakar and Jaggery, Hydrogenated Oil and Vegetable Oil (Refined).
Revised fare and freight rates to come into force from 01.04.97.
Expected additional revenue of about Rs.1800 cr.

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The Indian Railway Budget 1997 - Highlights

Document released by the Railway Ministry, Government of India, on 26th February, 1997.
Made available on the Web on the same day, by MediaWeb India, on The Indian Economy Overview (http://www.m-web.com).

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