Railway Minister Mallikarjun Kharge presented the interim budget for the months leading up to the general election amidst great uproar over the Telangana issue. This is the United Progressive Alliance (UPA) government’s last budget ahead of general elections in May 2014.

Usually, new trains are announced while train fares and freight rates are tweaked. This year, things have been a bit different.

Here are five key takeaways:

1)      Shortest budget speech: In every election year, an interim budget is presented. It is a smaller version of the usual full budget. This is called the interim budget, as it only accounts for finances until the election. This holds true for the railways too. As a result, it is not surprising that the budget speech was shorter than usual. However, with the Lok Sabha being adjourned over the issue over the creation of a separate state of Telangana, the budget speech had to be cut further short.

2)      FY13-14 performance: The railway budget shows that its financial performance worsened in the fiscal year. The operating ratio, which compares operating expenses as a percentage of total revenue, rose to 90.2% from the previous target of 87.8%. This shows that expenses have increase in comparison with revenues. Railways also increased total expenses for the FY2013-14 by Rs 560 crore. According to a separate official document seen by DNA, a daily newspaper, Railways has not met its revenue targets. The revenue is Rs 10,000 crore less than targeted, the paper reported. This is additional burden on the government’s finances. However, it expects to earn more than initially estimated from commercial transportation of goods.

3)      FY14-15 expenses and revenue: The ministry expects that it will earn Rs 45,255 crore from passenger ticket fares and Rs 1.05 lakh crore from transportation of goods. Rs 9,700 crore is expected to come from other avenues. All this is expected to help fund expenses worth Rs 1.1 lakh crore.

4)      Rate hikes: There were no significant changes in passenger ticket rates as well as freight tariffs – the amount charged to transport goods. This is because the interim budget predominantly consists of the Vote of Account (VOA). It deals with reporting the financial performance of the railways as an industry in the fiscal year 2013-14 and seeking an approval for expenses. No significant changes in rates are allowed because it would give the current government an upper hand in wooing voters.

5)      New routes and trains: The railway budget announced 17 premium, 38 express, and 10 new passenger trains. It also 7 electric trains for shorter journeys. It also said that surveys will be conducted for 19 new lines and the doubling of 5 other routes in the next fiscal.

This work is produced by Simplus Information Services Pvt Ltd. Customer engagement through content.

Like this article? Click here for more articles from the same provider.

Latest News

  • Thomson Reuters profit beats but currency weighs on revenue
    Thomson Reuters profit beats but currency weighs on revenue

    Currency weighed on revenues, however, and the news and information company said volatile currencies would have a bigger impact on this year's results than usual. "The quarter and the first half just confirms the momentum that is building inside the business," Chief Executive Jim Smith said in an interview. Analysts, on average, were looking for 50 cents per share, according to Thomson Reuters I/B/E/S. …

  • Microsoft opens Windows 10, free update for one year

    New Delhi, July 29 (IANS) With blue as the theme colour, Microsoft on Wednesday launched with much fanfare its new operating system Windows 10, which will be a free upgrade for existing clients for a year, while priced at $199 as a new package. In a huge hall at the capital's largest exposition ground, the Pragati Maidan, Microsoft India chairman Bhaskar Pramanik and Windows director Vineet Durani opened Windows 10 to the Indian market, with which the Redmond, Washington-based company intends …

  • India's first-ever social polling app is here

    Mumbai, July 29 (IANS) Do you want to create a ripple on a burning topic among your friends on various social media platforms? Called "Whatsay", the app allows users to create and send visual polls (adding an image or video with your post) in 25 categories to their friends via mobile messaging service WhatsApp, social networking site Facebook, micro-blogging site Twitter and Gmail. "Whatsay is the perfect mobile companion for Facebook, Twitter and WhatsApp. …

  • Essar Oil posts best-ever quarterly net profit

    Kolkata, July 29 (IANS) Despite a slump in its net revenue by 34 percent, private oil refiner Essar Oil on Wednesday posted a healthy increase of 54 percent in its net profit at Rs. 1,063 crore for the first quarter of the current fiscal year. Incidentally, this is the company's best ever quarterly performance, with the highest ever net profit - Rs.691 crore. The net revenue during the quarter under review fell by 34 percent to Rs.16,340 crore against the earning of Rs.24,855 crore during …

  • Greece's Tsipras, hounded by left, vows "thus far and no further"

    Greek Prime Minister Alexis Tsipras, struggling to contain a revolt in his left-wing Syriza party, said on Wednesday that his government would not implement reform measures beyond those agreed with lenders at a euro zone summit this month. Tsipras faces a tough Syriza central committee session on Thursday with many activists angered by his acceptance of bailout terms more stringent than those voters rejected in a July 5 referendum. In a clear warning to party rebels, Tsipras said he could be …

  • Nestle India slips into loss as noodle scare hits sales
    Nestle India slips into loss as noodle scare hits sales

    Nestle India Ltd slipped to a second-quarter loss as sales plunged after its hugely popular Maggi noodles were pulled off shelves over safety concerns. "Nestle India is making all efforts and will continue to engage with authorities to bring Maggi Noodles back on the shelves," Suresh Narayanan, due to take over as managing director of the company in August, said in a statement. Nestle has been at the centre of India's worst food scare in a decade after local regulators reported that some …

  • Why Financial Education is the need of the hour

    You could be a onetime investor, an investment professional or a college graduate, you would still need to know how money works in the real world. A proper, methodical financial planning and education is necessary. Read on to find out all you need to know about financial education and what it comprises of. …

  • Gold prices remained steady

    Chennai, July 29 (IANS) Gold prices remained steady on Wednesday after several successive days of slide, said an industry official. "Gold prices today (Wednesday) remained at yesterday's (Tuesday) ... …



  • Most Actives
    Most Actives
    NamePriceChange% Chg
  • Price % Gainers
    Price % Gainers
    NamePriceChange% Chg
  • Price % Losers
    Price % Losers
    NamePriceChange% Chg


Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
to view quotes in your portfolios.

Yahoo Cricket