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Thursday, February 26, 2015

BUDGET ESTIMATES and PLAN OUTLAY :: Railway Budget 2015 - 16

Union Railway Minster Mr. Suresh Prabhu presented the Railway Budget 2015 -2016 today. Following are the details of Budget Estimates and Plan Outlay. 
Railway Budget 15-16

Budget Estimates for 2015 - 16
  • The intention is to capture increased revenues and ensure appropriate investments so as to de - congest the system and enhance Line-Capacity.
  • Passenger earnings growth pegged at 16.7% and target budgeted at Rs. 50,175 crore.
  • Freight traffic is pegged at an all time high incremental traffic of 85 million tonnes, anticipating a healthier growth in the core sector of economy; Goods earnings proposed at Rs. 1,21,423 crore which includes rationalization of rates, commodity classification and distance slabs.
  • Other coaching and sundries are projected at Rs. 4,612 crore and Rs. 7,318 crore. Gross Traffic Receipts estimated at Rs 1,83,578 crore , a growth of 15.3%.
  • Ordinary Working Expenses proposed to grow at 9.6% over RE 2014-15. Traction fuel bill anticipated to shrink further.
  • Higher provisions made for safety maintenance and cleanliness. Lease charges, interest component of the current and previous market borrowings, at a growth of 21%.
  • Appropriation to Pension Fund proposed at Rs 35,260 crore and appropriation to DRF at Rs 8,100 crore. Appropriation of Rs 7,616 crore proposed to be made to Capital Fund for payment of principal component of lease charges to IRFC.

Plan Outlay 2015 - 16
  • Gross Budgetary Support of Rs 40,000 crore for the Railway’s Annual Plan
  • Rs 1,645.60 crore has also been provided as Railway’s share of diesel cess from the Central Road Fund. 
  • Market borrowing under EBR projected at Rs 17,655 crore, an increase of about 46.5%. Balance Plan outlay includes Rs 17,793 crore from Internal Resources and Rs. 5781 crore from PPP. Significantly, we are allocating large amounts towards Doubling, Traffic Facilities, Electrification and Passenger Amenities.
  • Given the huge shelf of project and ensuring proper funds flow for the same with a view to completing them on target, a new financing approach to expand EBR has been projected. This EBR, presently named EBR (Institutional Finance) would be based on institutional investments in railway projects through Railway/ PSUs. This element is projected at Rs 17,136 crore and is aimed at accelerating completion of capacity augmentation projects. Works proposed to be financed through this mode are listed in the Budget documents.
  • Plan Outlay is Rs 1,00,011 crore, an increase of 52% over RE 2014-15. It is anticipated that the Plan size will get higher once resources from institutional bodies are formalized during the course of the ensuing financial year.
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