Bulk of future railway projects will be financed via Public-Private Partnership ( PPP) route, said Railway minister DV Sadananda Gowda. Presenting his maiden Railway budget, Gowda said, "We are prioritising time lines to finish pending projects."
Lamenting that of the many projects sanctioned by Railways, only some have been completed, Gowda said, "We require Rs 5 lakh crore to complete ongoing projects."
Gowda said, "Railways bore 23 paise/passenger each km as loss in FY14. Rail Traffic Policy lacked rational approach." "FY14 Gross Traffic Receipt stood at Rs 1.39 lakh crore," he added.
"The FY14 operating ratio is at 94%; 6% is surplus. FY15 estimate for surplus is seen at Rs 602 crore," he added.
He said that in February this year, the losses incurred by railways on the basis of passenger fares alone touched Rs 30,000 crore.
Faced with a cash crunch of Rs 26,000 crore, Gowda is believed to have been told by Prime Minister Narendra Modi that the sprawling Indian railway network has to compare with the best in the world and come out making profits, not just for its own sake but also for the country.
Railways have the potential of adding at least 1 per cent to the country's GDP. That railways was on Modi's list of priorities was evident when, after flagging off the Katra-Udhampur train last week, he said he wanted the stations to have better facilities than airports.
Lamenting that of the many projects sanctioned by Railways, only some have been completed, Gowda said, "We require Rs 5 lakh crore to complete ongoing projects."
Gowda said, "Railways bore 23 paise/passenger each km as loss in FY14. Rail Traffic Policy lacked rational approach." "FY14 Gross Traffic Receipt stood at Rs 1.39 lakh crore," he added.
"The FY14 operating ratio is at 94%; 6% is surplus. FY15 estimate for surplus is seen at Rs 602 crore," he added.
He said that in February this year, the losses incurred by railways on the basis of passenger fares alone touched Rs 30,000 crore.
Faced with a cash crunch of Rs 26,000 crore, Gowda is believed to have been told by Prime Minister Narendra Modi that the sprawling Indian railway network has to compare with the best in the world and come out making profits, not just for its own sake but also for the country.
Railways have the potential of adding at least 1 per cent to the country's GDP. That railways was on Modi's list of priorities was evident when, after flagging off the Katra-Udhampur train last week, he said he wanted the stations to have better facilities than airports.
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