Rail Budget 2013: Losses from railways estimated at Rs 24,600 cr, says Bansal

NEW DELHI: Presenting his maiden budget, Railway Minister Pawan Kumar Bansal on Tuesday said that the losses from railways is estimated at Rs 24,600 crore for the current financial year.

Bansal said that while losses on passenger trains continue to mount, railways need to be financially sustainable. Bansal emphasised that the growth of railways is 'inextricably' linked with the growth of the overall country.

Bansal quoted verses from a poem to highlight the 'strength' of the organisation of the Indian Railways. Bansal started his speech with by paying homage to Congress leaders.

Pawan Kumar Bansal is the first Congress Railway Minister in nearly 17 years and expectations are high from his Rail Budget speech. While many passenger friendly measures are expected to be announced, a slew of new trains are also on the anvil.

Bansal had in January hiked railway fares across the board for the first time in a decade. The decision had met with widespread political criticism.