The rail budget of our country

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The rail budget of our country

Indian Railways Budget is the yearly Financial Statement of the Indian Railways that is responsible for rail transport in the country. The Minister of Railways presents the rail budget every year. Till the year 2006, Railway Budget in India was introduced some days before the declaration of the Union Budget.

On 21st September, in the same year, the Modi government declared to merge the Rail Budget with General Budget for the upcoming years. With this, a practice that had been followed for 92 years in the nation was put to an end. However, there was one positive aspect of this merging. It was done with the expectation of improving the economy of the country. The Ministry of Finance Arun Jaitley will also facilitate multi model transport between railways, highways and inland waterways. It will be able to allocate resources more efficiently.

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History of the Rail Budget in India

In the year 1921, the railway finances were isolated from the other government finances, and the practice continued up to the year 2016. The presentation of the first Railway Budget after India’s independence from the British clutches took place in the year 1947, November. The pioneering live telecast of the Indian Railways Budget was held in 1994, on 24th March. The first female candidate to become a Railway Minister was Mamata Banerjee who presented India’s Rail Budget in 2002. The Rail Budget announcement of 2014 is significant because in it was announced India’s first bullet train and also 9 High-Speed routes of the Indian Railways.

India’s Rail Budget of 2018

The finance minister has announced in the Union Budget of 2018 to allocate Rs 1.48 lakh crore for the betterment of Indian Railways. The budget was presented on 1st February.

Indian Railways chief targets

The primary targets of the Indian Railways are quite impressive. The Indian Railways aims to offer a better travelling experience in the coming years. It promises good hygiene and more safety to the passengers. The introduction of LED lights in all railway stations across India will save at least 21 lakh units of energy every year, which amounts to Rs 1.33 crore. For the financial year of 2018-19, the estimated operating ratio will be 92.8%. The operating ratio of 2017-18 was 96%. Operating ratio denotes the operating expenses of the company divided by the company’s operating revenues. It means that the lower the figure of the operating ratio, the better the financial health of the country.

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The primary target of the Indian Railways is to provide excellent services to the passengers so that the number of the passengers increases on a daily basis. It aims to give customers a better experience of travelling through trains. The smart coaches have several amenities like automatic doors, accessible dustbins, bio-vacuum toilets, vending machines, ergonomic seating, entertainment screens, bar-code readers and improved aesthetics. The boards for advertisements are LED lit. Along with that, the PA system will also be introduced. So, one of the Indian Railways main targets is making passengers truly happy and satisfied.

For More Details Regarding The rail budget of our country, Current information details and many more visit Indian Railways Official Website: http://www.indianrailways.gov.in

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