General Affairs
Government Mulling Separate Set Up For Defence Acquisition: Manohar Parrikar
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NEW DELHI: In what would be a key move if implemented, Defence Minister Manohar Parrikar today said the government is "actively considering" a separate set up for defence acquisition.
Many countries like France have exclusive organisations which deal with defence acquisition. This was also one of the recommendations of the Dhirendra Singh Committee that was set up the Defence Ministry to suggest changes to the Defence Procurement Procedure.
"A separate set up for defence acquisition, at capital level as well as revenue level and OFB needs to be created. We are considering that," Mr Parrikar said at the launch of the Defence Innovators and Industry Association (DIIA).
He said it will take another six months for the concept to firm up.
"This concept is under active consideration and definitely during the current calender year, this set up should be there," Mr Parrikar said replying to questions.
He said there should be continuity of information, knowledge and experience.
The minister that steps will be taken to ensure that there is career progression of officials and also that complacency does not creep in, besides any possible wrong doings.
Told by a retired Admiral that in the navy there are some Admirals and senior officers who have been associated with the Arihant submarine project right from being a Lieutenant, Mr Parrikar said, "I will look into it."
The Dhirendra Singh Committee has proposed "Dedicated Procurement Organisation Outside The Government Of India Ministry Structure" in a report submitted last year.
It had said that the procurement executive as now established is a result of the recommendations of the Group of Ministers post Kargil, and is one of the institutions created as part of the reorganisation of the higher defence management structures.
"It has now functioned for more than a decade. Like any organisation it has its strength and weaknesses. It is our recommendation that the time is ripe for it to undergo a second set of reforms," said the report.
"Its main drawback is that it essentially performs line functions whilst being embedded in a larger structure, which is designed to perform staff functions," the report had said.
Meanwhile, talking about the proposed strategic partnership scheme, under which the Defence Ministry will tie up with one government and one private company for building strategic assets like submarines, Mr Parrikar said the partner will be obligated to get at least 20 per cent material or technology from small and medium enterprises.
He also said the ministry is considering proposals to give a push at least 200-300 start ups in the defence sector.
Many countries like France have exclusive organisations which deal with defence acquisition. This was also one of the recommendations of the Dhirendra Singh Committee that was set up the Defence Ministry to suggest changes to the Defence Procurement Procedure.
"A separate set up for defence acquisition, at capital level as well as revenue level and OFB needs to be created. We are considering that," Mr Parrikar said at the launch of the Defence Innovators and Industry Association (DIIA).
He said it will take another six months for the concept to firm up.
"This concept is under active consideration and definitely during the current calender year, this set up should be there," Mr Parrikar said replying to questions.
He said there should be continuity of information, knowledge and experience.
The minister that steps will be taken to ensure that there is career progression of officials and also that complacency does not creep in, besides any possible wrong doings.
Told by a retired Admiral that in the navy there are some Admirals and senior officers who have been associated with the Arihant submarine project right from being a Lieutenant, Mr Parrikar said, "I will look into it."
The Dhirendra Singh Committee has proposed "Dedicated Procurement Organisation Outside The Government Of India Ministry Structure" in a report submitted last year.
It had said that the procurement executive as now established is a result of the recommendations of the Group of Ministers post Kargil, and is one of the institutions created as part of the reorganisation of the higher defence management structures.
"It has now functioned for more than a decade. Like any organisation it has its strength and weaknesses. It is our recommendation that the time is ripe for it to undergo a second set of reforms," said the report.
"Its main drawback is that it essentially performs line functions whilst being embedded in a larger structure, which is designed to perform staff functions," the report had said.
Meanwhile, talking about the proposed strategic partnership scheme, under which the Defence Ministry will tie up with one government and one private company for building strategic assets like submarines, Mr Parrikar said the partner will be obligated to get at least 20 per cent material or technology from small and medium enterprises.
He also said the ministry is considering proposals to give a push at least 200-300 start ups in the defence sector.
Rail Budget Caters To All Sections: PM Modi
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NEW DELHI: Prime Minister Narendra Modi today said the Rail Budget, which proposes no fare hike, caters to all sections of the society and showcases a vision to reorganise and rejuvenate the national transporter with the aim of providing trains with higher speed and safety.
Hailing the Rail Budget 2016-17 as "passenger-centric" as it entails no fare hike, PM Modi said it will play an important role in the country's rejuvenation.
He said the budget caters to all sections of the society and "stands out because it is an infrastructure-led and employment generating budget".
The government's efforts to comprehensively transform railways will gain even more momentum with this "development-oriented" Budget, he said.
"Rail Budget showcases a vision to reorganise, restructure and rejuvenate Railways with new processes, structures, norms and sources of revenue," PM Modi said.
He said 'Vision 2020' in the budget will make the railways free from capacity constraints with higher train speed, punctuality and safety.
"In the last year, we have seen lot of success and this budget is an effort to further improve on this," he said, while noting that along with IT, investment has been given importance.
Passenger facilities and rail upgradation have been two mantras of the rail budgets presented by Railway Minister Suresh Prabhu so far, PM Modi said, adding this budget will go a long way in addressing the problems faced by the railways.
He said Railways has witnessed 2.5 times more investment compared to what was seen in the budgets presented in the previous government and expressed confidence that this budget will have longterm and positive contribution to the economy.
"Launch of unreserved, superfast trains, Antyodaya Express and Deen Dayalu coaches illustrate our unwavering commitment to serving the poor," the Prime Minister said.
"The boost to investment outlay shows our government's long-term vision for the Railways and the nation," he added.
Regarding announcement to strengthen rail connectivity in Manipur and Mizoram, he said it was "gladdening" as connectivity in Northeast is "one of our core priorities".
Hailing the Rail Budget 2016-17 as "passenger-centric" as it entails no fare hike, PM Modi said it will play an important role in the country's rejuvenation.
He said the budget caters to all sections of the society and "stands out because it is an infrastructure-led and employment generating budget".
"Rail Budget showcases a vision to reorganise, restructure and rejuvenate Railways with new processes, structures, norms and sources of revenue," PM Modi said.
He said 'Vision 2020' in the budget will make the railways free from capacity constraints with higher train speed, punctuality and safety.
"In the last year, we have seen lot of success and this budget is an effort to further improve on this," he said, while noting that along with IT, investment has been given importance.
Passenger facilities and rail upgradation have been two mantras of the rail budgets presented by Railway Minister Suresh Prabhu so far, PM Modi said, adding this budget will go a long way in addressing the problems faced by the railways.
He said Railways has witnessed 2.5 times more investment compared to what was seen in the budgets presented in the previous government and expressed confidence that this budget will have longterm and positive contribution to the economy.
"Launch of unreserved, superfast trains, Antyodaya Express and Deen Dayalu coaches illustrate our unwavering commitment to serving the poor," the Prime Minister said.
"The boost to investment outlay shows our government's long-term vision for the Railways and the nation," he added.
Regarding announcement to strengthen rail connectivity in Manipur and Mizoram, he said it was "gladdening" as connectivity in Northeast is "one of our core priorities".
Railways Ties Up With Google To Provide Wi-Fi In 400 Stations
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NEW DELHI: Railway Minister Suresh Prabhu on Thursday proposed commissioning of Wi-Fi services at 100 railway stations this year and at a total 400 in the next two years.
"The process has begun to introduce Wi-Fi services at stations especially for youth and business travellers. I propose to commission Wi-Fi services at 100 stations this year and at 400 stations in the next two years," Mr Prabhu said while presenting the Railway Budget 2016-17 in parliament.
Indian Railways has partnered with Google in this endeavour.
Google's chief executive Sundar Pichai, during his visit to India in December last year, said: "In our attempt to provide internet access to people, we have decided to provide Wi-Fi at 400 railway stations in association with RailTel. The first 100 stations will come online by 2016-end."
Mr Prabhu also said that this year, a Track Management System (TMS) application was launched.
"With this, activities of track inspection, monitoring and maintenance have thus been switched over to an IT platform, and automatic alerts in the form of SMS and e-mails are being generated," the minister said.
NEW DELHI: Railway Minister Suresh Prabhu on Thursday proposed commissioning of Wi-Fi services at 100 railway stations this year and at a total 400 in the next two years."The process has begun to introduce Wi-Fi services at stations especially for youth and business travellers. I propose to commission Wi-Fi services at 100 stations this year and at 400 stations in the next two years," Mr Prabhu said while presenting the Railway Budget 2016-17 in parliament.
Google's chief executive Sundar Pichai, during his visit to India in December last year, said: "In our attempt to provide internet access to people, we have decided to provide Wi-Fi at 400 railway stations in association with RailTel. The first 100 stations will come online by 2016-end."
Mr Prabhu also said that this year, a Track Management System (TMS) application was launched.
"With this, activities of track inspection, monitoring and maintenance have thus been switched over to an IT platform, and automatic alerts in the form of SMS and e-mails are being generated," the minister said.
Smriti Irani's Comments Disputed By Doctor Who Declared Rohith Vemula Dead
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Union Education Minister Smriti Irani's assertions on Hyderabad student Rohith Vemula during her fiery speech in Parliament on Wednesday have been challenged by the doctor who examined him and also students.
Ms Irani suggested that there was a chance Rohith Vemula, the research scholar found hanging at the Hyderabad Central University on January 17, could have been revived.
"This is how politics was played on this child and his dead body. Nobody allowed a doctor near him. The police has reported... Not one attempt was made to revive this child. Not one attempt was made to take him to a doctor. Instead his body was used as a political tool.
Hidden. No police was allowed till 6.30 the next morning. Not me, but the Telangana police is saying this," the minister said to cries of "shame" from the government benches.
The doctor who declared Rohith dead has disputed the minister's comments.
Dr Rajasree Malpath, Chief Medical Officer at the Hyderabad Central University, says she was called in moments after Rohith was found hanging from a fan. She told that when she came to examine Rohith, he had been dead for at least two hours.
"Around 7.30 pm I got a call from the hostel. I reached within 4 minutes. The body was already put on the cot. I examined for pulse and BP, despite knowing he is probably dead. There was no pulse or BP. His body was cold, stiff and rigid. His tongue was protruding and rigor mortis had set in," the doctor told.
A video of the room where Rohith's body was kept that day, shared by his friends, shows policemen next to the body, which contradicts the minister's claim that the police were not allowed near the body till the next morning.
The police did say that the body was not moved until 6.30 the next morning, because at least 700 students were around and the mood was volatile. "Many had petrol and kerosene and had refused to let us take away the body,'' a police officer told.
Rohith Vemula's suicide has triggered an acrimonious political debate around alleged caste discrimination in universities.
The student was found dead days after he was banned from the hostel and other common areas on campus for allegedly attacking an activist of the BJP-linked ABVP. His supporters and opposition parties allege that Rohith, a Dalit, was ostracised because he was a dalit.
Ms Irani was yesterday responding to opposition allegations that she had forced the university to punish Rohith with multiple letters.
Ms Irani suggested that there was a chance Rohith Vemula, the research scholar found hanging at the Hyderabad Central University on January 17, could have been revived.
"This is how politics was played on this child and his dead body. Nobody allowed a doctor near him. The police has reported... Not one attempt was made to revive this child. Not one attempt was made to take him to a doctor. Instead his body was used as a political tool.
Hidden. No police was allowed till 6.30 the next morning. Not me, but the Telangana police is saying this," the minister said to cries of "shame" from the government benches.
The doctor who declared Rohith dead has disputed the minister's comments.
Dr Rajasree Malpath, Chief Medical Officer at the Hyderabad Central University, says she was called in moments after Rohith was found hanging from a fan. She told that when she came to examine Rohith, he had been dead for at least two hours.
"Around 7.30 pm I got a call from the hostel. I reached within 4 minutes. The body was already put on the cot. I examined for pulse and BP, despite knowing he is probably dead. There was no pulse or BP. His body was cold, stiff and rigid. His tongue was protruding and rigor mortis had set in," the doctor told.
A video of the room where Rohith's body was kept that day, shared by his friends, shows policemen next to the body, which contradicts the minister's claim that the police were not allowed near the body till the next morning.
The police did say that the body was not moved until 6.30 the next morning, because at least 700 students were around and the mood was volatile. "Many had petrol and kerosene and had refused to let us take away the body,'' a police officer told.
Rohith Vemula's suicide has triggered an acrimonious political debate around alleged caste discrimination in universities.
The student was found dead days after he was banned from the hostel and other common areas on campus for allegedly attacking an activist of the BJP-linked ABVP. His supporters and opposition parties allege that Rohith, a Dalit, was ostracised because he was a dalit.
Ms Irani was yesterday responding to opposition allegations that she had forced the university to punish Rohith with multiple letters.
Donald Trump Vs Marco Rubio And Ted Cruz At Houston Republican Debate
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HOUSTON: Donald Trump takes centre stage at a debate in Houston today as the favourite to win the Republican presidential nomination, with time running out on his remaining rivals to change a race rapidly tilting away from them.
Trump, 69, has won three of the first four contests in the nomination fight for the November 8 election to succeed Democratic President Barack Obama. After easily defeating his rivals in Nevada on Tuesday, the New York billionaire businessman is in position for more victories on March 1, when a dozen states will vote on "Super Tuesday."
At a CNN-hosted debate at the University of Houston, Trump's rivals will have one of their last best chances to try to derail the blunt-spoken political outsider before the Super Tuesday contests.
Whether they can pull it off is an open question. On stage with Trump will be US Senator Marco Rubio of Florida, US Senator Ted Cruz of Texas, Ohio Governor John Kasich and retired neurosurgeon Ben Carson. None have been able to slow Trump's momentum in previous debates.
"Trump is on cruise control," said Eric Fehrnstrom, a former senior adviser to 2012 Republican nominee Mitt Romney. He said Trump should ignore his opponents and focus on the key planks in his platform - a border wall to keep out illegal immigrants, a stronger military, defeating Islamic State and fair trade.
"It's getting late in the game for everyone else. People who are expecting a sudden shift in the direction of the race are deluding themselves. Trump is Goliath, and we've seen enough of the other candidates to know there are no Davids in this field," Fehrnstrom said.
Rubio, 44, has an added incentive to change the makeup of the race. He is scrambling to attract the financial donors who supported one-time establishment favorite Jeb Bush, who dropped out of the race after his disappointing finish in South Carolina on Saturday.
'Bombshell?'
Bush, the son and brother of former presidents, held a conference call with his top donors on Wednesday. A donor on the call said Bush offered effusive thanks for their support but provided no direction on who they should now help.
Cruz, 45, enters the debate under pressure. He must do well in his home state of Texas on Super Tuesday. Recently, he has been accused by his rivals of using negative tactics, including one that led to the resignation of his spokesman, Rick Tyler.
Romney, who has yet to endorse a Republican candidate, offered a pathway for attacking Trump, telling Fox News on Wednesday that Trump was bound to have a "bombshell" in his tax records.
"The reason I think there is a bombshell in there is because every time he is asked about his taxes, he dodges and delays and says: 'Well we're working on it,'" Romney said.
He added that all the candidates should release their tax records.
Trump tweeted in response: "Mitt Romney, who totally blew an election that should have been won and whose tax returns made him look like a fool, is now playing tough guy."
HOUSTON: Donald Trump takes centre stage at a debate in Houston today as the favourite to win the Republican presidential nomination, with time running out on his remaining rivals to change a race rapidly tilting away from them.Trump, 69, has won three of the first four contests in the nomination fight for the November 8 election to succeed Democratic President Barack Obama. After easily defeating his rivals in Nevada on Tuesday, the New York billionaire businessman is in position for more victories on March 1, when a dozen states will vote on "Super Tuesday."
At a CNN-hosted debate at the University of Houston, Trump's rivals will have one of their last best chances to try to derail the blunt-spoken political outsider before the Super Tuesday contests.
"Trump is on cruise control," said Eric Fehrnstrom, a former senior adviser to 2012 Republican nominee Mitt Romney. He said Trump should ignore his opponents and focus on the key planks in his platform - a border wall to keep out illegal immigrants, a stronger military, defeating Islamic State and fair trade.
"It's getting late in the game for everyone else. People who are expecting a sudden shift in the direction of the race are deluding themselves. Trump is Goliath, and we've seen enough of the other candidates to know there are no Davids in this field," Fehrnstrom said.
Rubio, 44, has an added incentive to change the makeup of the race. He is scrambling to attract the financial donors who supported one-time establishment favorite Jeb Bush, who dropped out of the race after his disappointing finish in South Carolina on Saturday.
'Bombshell?'
Bush, the son and brother of former presidents, held a conference call with his top donors on Wednesday. A donor on the call said Bush offered effusive thanks for their support but provided no direction on who they should now help.
Cruz, 45, enters the debate under pressure. He must do well in his home state of Texas on Super Tuesday. Recently, he has been accused by his rivals of using negative tactics, including one that led to the resignation of his spokesman, Rick Tyler.
Romney, who has yet to endorse a Republican candidate, offered a pathway for attacking Trump, telling Fox News on Wednesday that Trump was bound to have a "bombshell" in his tax records.
"The reason I think there is a bombshell in there is because every time he is asked about his taxes, he dodges and delays and says: 'Well we're working on it,'" Romney said.
He added that all the candidates should release their tax records.
Trump tweeted in response: "Mitt Romney, who totally blew an election that should have been won and whose tax returns made him look like a fool, is now playing tough guy."
Business Affairs
Rail Budget 2016: Four key takeaways for stock market from Suresh Prabhu's second budget speech
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Railway Minister Suresh Prabhu may have brought big smile on faces of consumers as he left passenger fare untouched in the Rail Budget 2016, his bid to double the capital expenditure in the rail sector to the tune of Rs 1.21 lakh crore failed to cheer the Dalal Street.
"The investment in the rail sector in the financial year 2017 will be double the average of last year, a feat never achieved before," said Prabhu.
There were expectations that the outlay would increase to somewhere around Rs 1.25 lakh crore.
However, Ajay Bodke, CEO & Chief Portfolio Manager - PMS, Prabhudas Lilladher believes the enhanced capex outlay will have a multiplier economic impact in the medium term.
"I believe the Railway Minister has successfully navigated a very challenging economic environment and expected burden of seventh Pay Commission on salaries by presenting a growth-oriented budget that emphasizes on aggressive capacity build-up with an enhanced capex of Rs 1.21 lakh crores, that is likely to have a 5x economic multiplier on aggregate demand over the medium term," said Bodke.
Experts also said Prabhu's wish to revamp the Railway Board and strengthen the Public Private Partnership (PPP) cell will pave the way for reforms dilapidated Railway sector has been awaiting for decades now.
Below are few key takeaways that marketmen must review as they plan strategies around Rail Budget 2016:
1) Where would the money go: The focus will be on capital expenditure with a mix of various sources of funding in order to ensure the projects are given assured funding. Prabhu announced to spend Rs 8.5 lakh crore for modernization of railway infrastructure over the five years.
He also proposed to electrify 2000 kms by next year and increase the outlay for railway electrification by almost 50 per cent. Reacting to this, shares of KEC International rose over 5 per cent on the Bombay Stock Exchange.
Railways' operating ratio will be 90 per cent against the targeted 88.5 per cent for 2015-16. In other words, railways will spend 90 paise for each rupee of revenue. For FY17, the railways' operating ratio will go up to 92 per cent because of the impact of the 7th Pay Commission.
2) Where would the money come from: The minister said he is looking at monetising non-core assets, along with other revenue-generating models. He hopes to generate revenues to the order of Rs 1,84,820 crores and pegged the revenue growth at 10.1 per cent in FY17.
Railways will get Rs 40,000 crore during 2016-17 as budgetary support from the central government. Last year, Finance Minister Arun Jaitley had provided Rs 40,000 crore for railways, but this amount was cut by a fifth after railways' failed to spend money in time.
Rs 1.5 lakh crore will be funded by state-run LIC over the next five years towards railways' modernisation plan and it will save Rs 8,720 crore in 2015-16 on account of lower fuel and electricity costs.
3) Freight business revival: Referring to the progress of Dedicated Freight Corridor Project, the Railway Minister said that almost all contracts for civil engineering works will be awarded by the end of this financial year. He said Rs 24,000 crore worth contracts were awarded since November 2014 as against Rs 13,000 crore contracts awarded during the last six years.
He proposed to take up North-South, East-West and East Coast freight corridors through innovative financing including PPP. He also said Railways is reviewing the tariff structure for its freight business and wants to expand the basket of commodities it transports to boost revenues.
4) Rupee bonds: Taking in innovative step, Suresh Prabhu proposed to launch rupee bonds in order to raise revenues from foreign investors.
Railway Minister Suresh Prabhu may have brought big smile on faces of consumers as he left passenger fare untouched in the Rail Budget 2016, his bid to double the capital expenditure in the rail sector to the tune of Rs 1.21 lakh crore failed to cheer the Dalal Street.
"The investment in the rail sector in the financial year 2017 will be double the average of last year, a feat never achieved before," said Prabhu.
There were expectations that the outlay would increase to somewhere around Rs 1.25 lakh crore.
However, Ajay Bodke, CEO & Chief Portfolio Manager - PMS, Prabhudas Lilladher believes the enhanced capex outlay will have a multiplier economic impact in the medium term.
"I believe the Railway Minister has successfully navigated a very challenging economic environment and expected burden of seventh Pay Commission on salaries by presenting a growth-oriented budget that emphasizes on aggressive capacity build-up with an enhanced capex of Rs 1.21 lakh crores, that is likely to have a 5x economic multiplier on aggregate demand over the medium term," said Bodke.
Experts also said Prabhu's wish to revamp the Railway Board and strengthen the Public Private Partnership (PPP) cell will pave the way for reforms dilapidated Railway sector has been awaiting for decades now.
Below are few key takeaways that marketmen must review as they plan strategies around Rail Budget 2016:
1) Where would the money go: The focus will be on capital expenditure with a mix of various sources of funding in order to ensure the projects are given assured funding. Prabhu announced to spend Rs 8.5 lakh crore for modernization of railway infrastructure over the five years.
He also proposed to electrify 2000 kms by next year and increase the outlay for railway electrification by almost 50 per cent. Reacting to this, shares of KEC International rose over 5 per cent on the Bombay Stock Exchange.
Railways' operating ratio will be 90 per cent against the targeted 88.5 per cent for 2015-16. In other words, railways will spend 90 paise for each rupee of revenue. For FY17, the railways' operating ratio will go up to 92 per cent because of the impact of the 7th Pay Commission.
2) Where would the money come from: The minister said he is looking at monetising non-core assets, along with other revenue-generating models. He hopes to generate revenues to the order of Rs 1,84,820 crores and pegged the revenue growth at 10.1 per cent in FY17.
Railways will get Rs 40,000 crore during 2016-17 as budgetary support from the central government. Last year, Finance Minister Arun Jaitley had provided Rs 40,000 crore for railways, but this amount was cut by a fifth after railways' failed to spend money in time.
Rs 1.5 lakh crore will be funded by state-run LIC over the next five years towards railways' modernisation plan and it will save Rs 8,720 crore in 2015-16 on account of lower fuel and electricity costs.
3) Freight business revival: Referring to the progress of Dedicated Freight Corridor Project, the Railway Minister said that almost all contracts for civil engineering works will be awarded by the end of this financial year. He said Rs 24,000 crore worth contracts were awarded since November 2014 as against Rs 13,000 crore contracts awarded during the last six years.
3) Freight business revival: Referring to the progress of Dedicated Freight Corridor Project, the Railway Minister said that almost all contracts for civil engineering works will be awarded by the end of this financial year. He said Rs 24,000 crore worth contracts were awarded since November 2014 as against Rs 13,000 crore contracts awarded during the last six years.
He proposed to take up North-South, East-West and East Coast freight corridors through innovative financing including PPP. He also said Railways is reviewing the tariff structure for its freight business and wants to expand the basket of commodities it transports to boost revenues.
4) Rupee bonds: Taking in innovative step, Suresh Prabhu proposed to launch rupee bonds in order to raise revenues from foreign investors.
Rail Budget 2016: No changes in passenger fares, freight
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The Railway Budget for 2016-17 on Thursday spared passengers and goods movement from any increase in tariffs while it announced introduction of three new superfast trains and creation of dedicated north-south, east-west and east coast freight corridors by 2019.
Presenting his second Budget in the Lok Sabha, Railway Minister Suresh Prabhu promised rationalising of the tariff structure by undertaking a review to evolve competitive rates vis-a-vis other modes of transport and to expand the freight basket as a means of additional revenue mobilisation.
Unlike last year when he tweaked freight rates, Prabhu made no changes either in passenger fares or freight rates.
The three new superfast trains announced by him include 'Humsafar' which will be a fully air-conditioned 3AC service with option of meals. 'Tejas' will showcase the future of train travel in India with speeds up to 130 km per hour with onboard services such as entertainment, local cuisine and wifi.
The two trains will ensure cost recovery through tariff and non-tariff measures while 'Uday' will be an overnight double-decker along with 'Utkrishit' double-decker air-conditioned yatri express on the busiest routes.
For improving quality of travel for unreserved passenger, a superfast 'Antyodya' express service would be introduced.
'Deen Dayalu' unreserved coaches with portable water and higher number of mobile charging points would also be introduced.
He also announced setting up of a Rail Development Authority to enable fair pricing of services, promote competition, protect customer interest and determine efficiency standards. The draft Bill in this regard will be ready after holding extensive stakeholder consultations.
Outlining the Budget estimates for the coming year, the Minister put the plan size at Rs 1.21 lakh crore.
The focus will be on capital expenditure with a mix of various sources of funding in order to ensure the projects are given assured funding.
The Railway Budget for 2016-17 on Thursday spared passengers and goods movement from any increase in tariffs while it announced introduction of three new superfast trains and creation of dedicated north-south, east-west and east coast freight corridors by 2019.
Presenting his second Budget in the Lok Sabha, Railway Minister Suresh Prabhu promised rationalising of the tariff structure by undertaking a review to evolve competitive rates vis-a-vis other modes of transport and to expand the freight basket as a means of additional revenue mobilisation.
Unlike last year when he tweaked freight rates, Prabhu made no changes either in passenger fares or freight rates.
The three new superfast trains announced by him include 'Humsafar' which will be a fully air-conditioned 3AC service with option of meals. 'Tejas' will showcase the future of train travel in India with speeds up to 130 km per hour with onboard services such as entertainment, local cuisine and wifi.
The two trains will ensure cost recovery through tariff and non-tariff measures while 'Uday' will be an overnight double-decker along with 'Utkrishit' double-decker air-conditioned yatri express on the busiest routes.
For improving quality of travel for unreserved passenger, a superfast 'Antyodya' express service would be introduced.
'Deen Dayalu' unreserved coaches with portable water and higher number of mobile charging points would also be introduced.
He also announced setting up of a Rail Development Authority to enable fair pricing of services, promote competition, protect customer interest and determine efficiency standards. The draft Bill in this regard will be ready after holding extensive stakeholder consultations.
Outlining the Budget estimates for the coming year, the Minister put the plan size at Rs 1.21 lakh crore.
The focus will be on capital expenditure with a mix of various sources of funding in order to ensure the projects are given assured funding.
Rail Budget: Less populist, more pragmatic but execution holds the key
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Just announced Railway Budget 2016seems to have come as a relief to the corporate sector, as it seems to be talking the industry language, is business-friendly and lays more emphasis on leveraging the digital medium.
Talking to Business Today, Suresh Rayudu Chitturi, Chairman of the Andhra Chapter of the Confederation of Indian Industry (CII) and the Vice Chairman and Managing Director of Srinivasa Hatcheries Group, says he is happy to see a budget that is "less populist and more pragmatic".
It seems to be trying to address some specifics that are essential for the health of the railways and for the betterment of the passengers, Chitturi adds.
"It is trying to fix what is essential and does not fall back on the option to hike in freight charges...There are pockets of good measures in the Rail Budget but how it will be executed needs to be seen," he says.
For many in the corporate world the Railway Budget is not of much interest, neither for travel nor for concessions.
For instance, one player from the infrastructure sector pointed out that it did not directly impact them. He explained that those who are in the business of power generation for them the freight charges would be important as it could impact the cost of transportation of coal but then, even there, he said, these costs are usually a pass through to the consumers , the state electricity boards.
Talking to Business Today, Suresh Rayudu Chitturi, Chairman of the Andhra Chapter of the Confederation of Indian Industry (CII) and the Vice Chairman and Managing Director of Srinivasa Hatcheries Group, says he is happy to see a budget that is "less populist and more pragmatic".
It seems to be trying to address some specifics that are essential for the health of the railways and for the betterment of the passengers, Chitturi adds.
"It is trying to fix what is essential and does not fall back on the option to hike in freight charges...There are pockets of good measures in the Rail Budget but how it will be executed needs to be seen," he says.
For many in the corporate world the Railway Budget is not of much interest, neither for travel nor for concessions.
For instance, one player from the infrastructure sector pointed out that it did not directly impact them. He explained that those who are in the business of power generation for them the freight charges would be important as it could impact the cost of transportation of coal but then, even there, he said, these costs are usually a pass through to the consumers , the state electricity boards.
Railways targets new sources of revenue, cost cuts
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The Indian Railways on Thursday said it planned to cut costs and generate new sources of revenue next year to offset a big rise in its wage bill and help keep an ambitious modernisation plan on track on track.
Presenting the annual rail budget for 2016/17, Railway Minister Suresh Prabhu said the planned budget outlay for the world's fourth-largest network would be Rs 1.21 lakh crore ($17.6 billion), up about 20 per cent from the current year's estimated expenditure.
But a slowdown in growth of passenger and freight revenues has put pressure on the railways' finances one year after Prime Minister Narendra Modi's government unveiled a 5-year $137 billion investment plan to overhaul the saturated and decrepit network.
"These are challenging times...We are faced with two headwinds, entirely beyond our control; tepid growth of our economy's core sectors due to an international slowdown and the looming impact of the 7th pay commission," Prabhu told the Parliament four days ahead of the Union Budget.
Prabhu said the railway would need to cut costs, grow its freight business which provides two-thirds of its revenue and target new sources of non-tariff revenue through measures such as redeveloping train stations.
"We need to look beyond the current approach to expand the basket (of freight commodities). We will make sure we recapture the traffic," he told the Parliament, announcing plans for three new dedicated freight corridors across the country.
The Indian Railways on Thursday said it planned to cut costs and generate new sources of revenue next year to offset a big rise in its wage bill and help keep an ambitious modernisation plan on track on track.
Presenting the annual rail budget for 2016/17, Railway Minister Suresh Prabhu said the planned budget outlay for the world's fourth-largest network would be Rs 1.21 lakh crore ($17.6 billion), up about 20 per cent from the current year's estimated expenditure.
But a slowdown in growth of passenger and freight revenues has put pressure on the railways' finances one year after Prime Minister Narendra Modi's government unveiled a 5-year $137 billion investment plan to overhaul the saturated and decrepit network.
"These are challenging times...We are faced with two headwinds, entirely beyond our control; tepid growth of our economy's core sectors due to an international slowdown and the looming impact of the 7th pay commission," Prabhu told the Parliament four days ahead of the Union Budget.
Prabhu said the railway would need to cut costs, grow its freight business which provides two-thirds of its revenue and target new sources of non-tariff revenue through measures such as redeveloping train stations.
"We need to look beyond the current approach to expand the basket (of freight commodities). We will make sure we recapture the traffic," he told the Parliament, announcing plans for three new dedicated freight corridors across the country.
How Rail Budget 2016 will improve your train travel
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The Railway Minister Suresh Prabhu presented the Rail Budget 2016 on Thursday in the Lok Sabha with FY17 investments seen at Rs 1.21 lakh crore.
Adding that the common people have always been the focus of all of the governmnet initiatives, here are the announcements made by the Rail Minister that will affect your rail travel:
- No hike in passenger fares
- WiFi services at 100 stations this year and at 400 more stations over next two years
- Fully unreserved superfast trains on heavy traffic routes
- All-India 24X7 helpline for women
- Berth quota for senior citizens to be increased by 50 per cent
- World's first bio-vacuum toilet developed by Indian Railways is being used in Bibrugarh Rajdhani express. 17,000 more toilets in 475 stations this fiscal.
- Walls of many stations have been converted to murals, also contributing to social awareness.
- All stations to be brought under CCTV surveillance
- Online booking of retiring rooms made possible. E-booking on concession passes for journalists to be introduced.
- Bar-coded rail tickets to be introduced
- Ticket cancellation via phone calls to be started soon. Railways to install 1,780 automatic ticketing machines.
- IRCTC will begin to manage catering in a phased manner, local cuisine of choice will be made available. E-catering to be expanded from 40 stations to 408 stations. Children's menu, baby foods, baby boards to be made available for travelling mothers.
- Proposed to invite FM radio stations to provide train borne entertainment via PA systems.
- Better experience with porters as they apart from being called "sahayaks", will be trained in soft skills
The Railway Minister Suresh Prabhu presented the Rail Budget 2016 on Thursday in the Lok Sabha with FY17 investments seen at Rs 1.21 lakh crore.
Adding that the common people have always been the focus of all of the governmnet initiatives, here are the announcements made by the Rail Minister that will affect your rail travel:
- No hike in passenger fares
- WiFi services at 100 stations this year and at 400 more stations over next two years
- Fully unreserved superfast trains on heavy traffic routes
- All-India 24X7 helpline for women
- Berth quota for senior citizens to be increased by 50 per cent
- World's first bio-vacuum toilet developed by Indian Railways is being used in Bibrugarh Rajdhani express. 17,000 more toilets in 475 stations this fiscal.
- Walls of many stations have been converted to murals, also contributing to social awareness.
- All stations to be brought under CCTV surveillance
- Online booking of retiring rooms made possible. E-booking on concession passes for journalists to be introduced.
- Bar-coded rail tickets to be introduced
- Ticket cancellation via phone calls to be started soon. Railways to install 1,780 automatic ticketing machines.
- IRCTC will begin to manage catering in a phased manner, local cuisine of choice will be made available. E-catering to be expanded from 40 stations to 408 stations. Children's menu, baby foods, baby boards to be made available for travelling mothers.
- Proposed to invite FM radio stations to provide train borne entertainment via PA systems.
- Better experience with porters as they apart from being called "sahayaks", will be trained in soft skills
General Awareness
List of Current Chief Ministers in India – Updated on February 2016
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Current Chief Ministers in India
State Chief Minister Andhra Pradesh Shri. Nara Chandrababu Naidu Arunachal Pradesh Shri Kalikho Pul Assam Shri Tarun Gogoi Bihar Shri Nitish Kumar Chhattisgarh Dr. Raman Singh Delhi (NCT) Shri Arvind Kejriwal Goa Shri Laxmikant Parsekar Gujarat Smt. Anandiben Patel Haryana Shri Manohar Lal Himachal Pradesh Shri Virbhadra Singh Jammu and Kashmir – Jharkhand Shri Raghubar Das Karnataka Shri Siddaramaiah Kerala Mr Oommen Chandy Madhya Pradesh Shri Shivraj Singh Chouhan Maharashtra Shri Devendra Fadnavis Manipur Shri Okram Ibobi Singh Meghalaya Dr. Mukul Sangma Mizoram Shri Lal Thanhawla Nagaland Shri. T R Zeliang Odisha Shri Naveen Patnaik Puducherry (UT) Shri N. Rangasamy Punjab Shri Parkash Singh Badal Rajasthan Smt. Vasundhara Raje Sikkim Shri Pawan Kumar Chamling Tamil Nadu Selvi J. Jayalalithaa Telangana Shri K Chandrasekhar Rao Tripura Shri Manik Sarkar Uttar Pradesh Shri Akhilesh Yadav Uttarakhand Shri Harish Rawat West Bengal Km. Mamata Banerjee
Current Chief Ministers in IndiaState Chief Minister Andhra Pradesh Shri. Nara Chandrababu Naidu Arunachal Pradesh Shri Kalikho Pul Assam Shri Tarun Gogoi Bihar Shri Nitish Kumar Chhattisgarh Dr. Raman Singh Delhi (NCT) Shri Arvind Kejriwal Goa Shri Laxmikant Parsekar Gujarat Smt. Anandiben Patel Haryana Shri Manohar Lal Himachal Pradesh Shri Virbhadra Singh Jammu and Kashmir – Jharkhand Shri Raghubar Das Karnataka Shri Siddaramaiah Kerala Mr Oommen Chandy Madhya Pradesh Shri Shivraj Singh Chouhan Maharashtra Shri Devendra Fadnavis Manipur Shri Okram Ibobi Singh Meghalaya Dr. Mukul Sangma Mizoram Shri Lal Thanhawla Nagaland Shri. T R Zeliang Odisha Shri Naveen Patnaik Puducherry (UT) Shri N. Rangasamy Punjab Shri Parkash Singh Badal Rajasthan Smt. Vasundhara Raje Sikkim Shri Pawan Kumar Chamling Tamil Nadu Selvi J. Jayalalithaa Telangana Shri K Chandrasekhar Rao Tripura Shri Manik Sarkar Uttar Pradesh Shri Akhilesh Yadav Uttarakhand Shri Harish Rawat West Bengal Km. Mamata Banerjee
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