Railway Budget 2016-17 Highlights

Railway Minister Suresh Prabhu on 25 February 2016 presented the Railway Budget 2016-17 in the Lok Sabha. Railway Minister Suresh Prabhu said that this Budget owes inspiration to vision of PM Narendra Modi who said ‘My vision is to make railways backbone of India’s progress & economic development’. Suresh Prabhu said that core objective is to become an engine of employment generation and economic growth at national level.

Railway Budget 2016-17 Highlights: 

• Railway Minister Suresh Prabhu outlined a capital plan of 121000 crore rupees in 2016-17.
• LIC has agreed to invest 1.5 lakh crore rupees over 5 years on extremely favourable terms
• Dedicated freight corridor project gaining momentum. New freight corridors announced: Delhi-Chennai, Kharagpur-Mumbai, Kharagpur-Vijayawada. 
• Plan to generate 9 crore man-days employment by 2017-18 and 14 crore man-days by 2018-19 
• Aimed at eliminating unmanned level crossings by 2020 
• Aimed at generating revenues of order of 184820 crore rupees in 2016, which is 10.1 percent higher than revised target of 2015 
• North-East India, especially Mizoram and Manipur, to be connected through broad gauge soon 
• To commission 2800 km of new tracks in 2016-17 
• Bids for setting up 2 locomotive factories was finalised and the new factories will be set up with an order book of 40000 crore rupees. 
• Indian Railways to surpass ambitious target of commissioning 2500 kms of broad gauge lines, almost 30% higher than last year 
• Bar-coded tickets will be introduced on pilot basis, this will help to tackle menace of ticketless travel 
• Overnight double-decker trains to be introduced on business travel routes 
• Long distance superfast train Antyodaya Express for unreserved passengers will be launched. Fully unreserved superfast trains to be introduced on dense traffic route.
• Deen Dayal coaches for long distance trains for unreserved passengers will be introduced. 
• Full-fledged Railway University will come-up soon 
• Railways to increase the quota of lower berths for women and senior citizens 
• Wi-Fi will be provided at 400 railway station in 2016-17, as compared to 100 in 2015-16 
• 2000 km of electrification proposed for 2016-17