INDIA's railway minister, Mrs Mamata Banerjee, presented her railway budget to the Indian parliament today. She plans to invest Rs 407.45 billion ($US 8.65 billion) in 2009-10 compared with Rs 367.7 billion the previous year. Of this, Rs 29.2 billion will be invested in the construction of new lines, Rs 17.5 billion in converting narrow-gauge lines to broad gauge, and Rs 11 billion - a 119% increase over the interim budget - on passenger amenities. Banerjee says 50 stations will be developed into world-class facilities.
INDIA's railway minister, Mrs Mamata Banerjee, presented her railway budget to the Indian parliament today. She plans to invest Rs 407.45 billion ($US 8.65 billion) in 2009-10 compared with Rs 367.7 billion the previous year. Of this, Rs 29.2 billion will be invested in the construction of new lines, Rs 17.5 billion in converting narrow-gauge lines to broad gauge, and Rs 11 billion - a 119% increase over the interim budget - on passenger amenities. Banerjee says 50 stations will be developed into world-class facilities.
Indian Railways (IR) will build seven new lines, convert the gauge of 17 lines, and double the track on 13 lines. IRJ will purchase 18,000 freight wagons compared with 11,000 in 2008-09, and a factory will be built to produce 500 passenger coaches a year.
The annual growth rate of the Indian economy slowed to 6.7% in 2008-09, its lowest rate of growth since 2003, as a result of the global recession. IR's freight traffic increased by 5% and freight revenue grew by 11.4% to Rs 798.6 billion in 2008-09.
