The August-end figures indicate that Railways has already overshot its spending. Its earnings have grown by about 3.4% while its expenses have grown by about 9% this fiscal.
The reversal of outflows began in July when FPIs put Rs 2,264 crore in equity and debt markets. Overseas investors had pulled out over Rs 60,000 crore during April-June in the wake of the surge in crude oil prices and fears over rate hike by the US Fed.
Railway Budget 2018: Finance Minister Arun Jaitley pegged the capital expenditure target of Rs 1,48,528 crore for Railways, the highest ever. But, only about a third of this money is to be funded from the general exchequer’s coffers
Budget 2018: Finance Minister Arun Jaitley said most of the money would be spent on capacity expansion, since it was the top-most priority for the national transporter, besides safety of passengers.
Railway Budget 2018 Live Updates: The 92-year-old practice of a separate Railway budget was discontinued last year and was merged with the Union Budget
The system would enable predictive maintenance and reduction in failures in coach suspension, roller bearings and track condition.
"First they should tell how much was spent out of budgetary allocations on Rail last year and how much was achieved out of the target set by the Railways for Bihar last year."
The Pink Book of the Railway Budget put up on the Ministry of Railways website, provides the detailed list of projects.
The Finance minister said the Railways will focus on four major areas — passenger safety, capital and development works, cleanliness and finance and accounting reforms.
According to sources, the Railways officials were only asked if the ministry had any objection to the listing of some of its PSUs for better fund infusion and market competitiveness.
Track maintenance and rail renewal for Mumbai section will also receive maximum attention from the budgetary allotment from Rail Safety Fund with a corpus of Rs 1 lakh crore to be utilised over five years.
Railways will implement end-to-end integrated transport solutions for selected commodities through partnership with logistics, who will provide both front and back-end connectivity.
Praising Prime Minister Narendra Modi for the "bold step", he said the budget has the "imprint" of Prime Minister's ideas.
He proposed creation of 'Rashtriya Rail Sanraksha Kosh' (National Rail Safety Fund) with a corpus of Rs 1 lakh crore.
For passengers safety, a ‘rail sanraksha kosh’, a rail safety fund with corpus of Rs. 1,00,000 crores, will be created over a period of five years, Arun Jaitley said.
Arun Jaitley is likely to give more focus on infrastructure development such as new lines, doubling, station redevelopment and safety upgradation.
‘More trains for Rajasthan, UP, Bihar, J&K and Assam; better services at station’
It is expected of Finance Minister Arun Jaitley to present a separate statement of budget estimates and demand for grants in the General Budget.
Union Finance Minister Arun Jaitley is likely to give more focus on infrastructure development such as new lines, doubling, station redevelopment, safety upgradation.
Sources said the safety upgrade will take five years of dedicated approach in “mission mode”.
Arun Jaitley said year after year, the success of Railway Budget was measured by subsidising consumers and making populist announcements regarding trains.
As Railways plan to shift towards accrual system of accounting from cash system, the Union Finance Minister said the accounting reform will better reflect performance