Railways Vote on Account 2014: Dedicated freight corridor to reduce transit time’ by half’

NEW DELHI: Railway Minister Mallikarjun Kharge on Wednesday presented the Interim Railway Budget 2014 and announced a dedicated freight corridor, which he said that will cut transit time by half.

The freight loading target has been announced at 1,101 million tonne versus 1,052 million tonne YoY. Even as Kharge kept passenger fares unchanged, he announced that seventeen new premium trains and 38 express trains will be introduced. In an announcement that will bring cheer to passengers, Kharge said, "We will run more passenger trains at higher speed as needed."

Kharge highlighted UPA-II government's endeavour to better connect areas of North-East. "We will connect Meghalaya, Arunachal to rail network in FY14," said Kharge.

"Electrification of over 4,000 kilometres is planned. Need urgent investment in Railways to improve services," he said. "Railways has emerged stronger financially," he added.

"We completed laying 2,027 kms rail lines versus target 2,000 kms. We have successfully met 6th pay panel recommendations," Kharge said.

Stating that Railways influence all aspects of life, Kharge said, "Railways provide low cost connectivity to all parts of India. Railways contribution is unprecedented."

"It is time that we take note of the investment needs. Railways are an engine of growth," Kharge said. "This pan-Indian organisation needs to be nurtured," he added.

In his first Railway Budget, Railway Minister Mallikarjun Kharge is faced with a revenue shortfall. Freight and passenger earnings have shown a decline during the April-December 2013 period. While freight earnings are short by about Rs 850 crore, the decrease in passenger revenue is about Rs 4000 crore.

Kharge had expressed serious concern over falling revenue and categorically asked officials to undertake all possible steps to arrest the further fall in earnings in the recent General Managers meeting.

Kharge, perceived to be a reformist, has taken many bold steps to increase the revenue like allowing fuel adjustment component in passenger and freight fares, increasing Duronto fares and revising Rajdhani catering charges.

He had also allowed dynamic fares in special trains to encash the increased demand of berths in Delhi-Mumbai sector as a pilot project.