LIVE
Wed, 14 March 2012
TMC to sack Dinesh Trivedi?
Timeline Refresh
20:06
TMC to move cut motion.
20:04
Prime Minister says the government has the numbers.
20:04
TMC may suggest a replacemnet for Trivedi.
20:03
TMC MPs to meet the Prime Minister demanding a roll-back.
20:02
Action against Trivedi yet to be decided: TMC source.
20:02
Mamata summons Trivedi to Kolkata.
20:01
TMC leader Sudip Bandopadhyay said Trivedi may be replaced by another leader.
18:20
Corporates, on the other hand, gave thumbs up to the Rail Budget terming it as 'balanced' while maintaining that hiking passenger fares will help rationalise revenue stream of the Railways.
Describing it as a bold and pragmatic Budget, industry chambers appreciated setting up of authorities including railway safety, tariff and station development.
The chambers have called for greater private sector participation in the rail sector.
Describing it as a bold and pragmatic Budget, industry chambers appreciated setting up of authorities including railway safety, tariff and station development.
The chambers have called for greater private sector participation in the rail sector.
18:19
Former Rail Minister Lalu Prasad Yadav said the fare hike is not only a burden on the common people, it will also not add much to the Rail earnings.
17:41
West Bengal Chief Minister and TMC boss Mamata Banerjee declared today that she will not allow any hike in railway fares proposed in the Railway Budget by her own nominee Dinesh Trivedi, the Railway Minister.
"We will not not allow rail fares to be hiked," she told a public meeting, hours after Trivedi had proposed an across-the-board hike in passenger fares to raise Rs 4,000 crore extra this year.
"We will not not allow rail fares to be hiked," she told a public meeting, hours after Trivedi had proposed an across-the-board hike in passenger fares to raise Rs 4,000 crore extra this year.
17:02
Railways was "getting into the ICU and I have pulled it out from the ICU."
The Budget makes it clear that the revised fares in certain trains are inclusive of development charges and
exclusive of reservation fee, superfast charges and the new proposal of safety surcharge.
Trivedi said the proposed adjustments in fares "do not even cover fully the impact of increase in fuel prices during the last eight years."
He said he was "keeping the valuable passengers of Indian Railways insulated from the burden of increasing staff cost."
The Budget makes it clear that the revised fares in certain trains are inclusive of development charges and
exclusive of reservation fee, superfast charges and the new proposal of safety surcharge.
Trivedi said the proposed adjustments in fares "do not even cover fully the impact of increase in fuel prices during the last eight years."
He said he was "keeping the valuable passengers of Indian Railways insulated from the burden of increasing staff cost."
16:22
Hike in passenger fares to raise Rs 4000 cr in additional revenues, said Trivedi.
Former Rail Minister, Lalu Prasad said, "We kept on reducing fares when I was minister, still we had a profit of Rs 7,000 cr."
Former Rail Minister, Lalu Prasad said, "We kept on reducing fares when I was minister, still we had a profit of Rs 7,000 cr."
16:03
TMC sources said Dinesh Trivedi is most likely to quit his job.
Trivedi on the other hand said, "I take full responsibility. It was a conscious decision. My party was not aware of this (fare hike)."
Trivedi on the other hand said, "I take full responsibility. It was a conscious decision. My party was not aware of this (fare hike)."
15:56
Prime Minister Manmohan Singh hailed as "forward-looking" the Rail Budget which has
proposed hike in passenger fares in various ranges in different categories.
The Railway Minister has presented a forward-looking budget with emphasis on safety and modernisation of the Indian
Railways, Singh said in a statement.
He said the budget has been formulated against the background of the Railways' responsibilities in meeting the
demands of the 12th Five Year Plan.
proposed hike in passenger fares in various ranges in different categories.
The Railway Minister has presented a forward-looking budget with emphasis on safety and modernisation of the Indian
Railways, Singh said in a statement.
He said the budget has been formulated against the background of the Railways' responsibilities in meeting the
demands of the 12th Five Year Plan.
15:51
Whatever I have done is in Railways' interest: Railways Minister Dinesh Trivedi.
15:10
Stocks of companies associated with the Indian Railways reversed their early gains, as analysts
did not see much for their benefit in the Rail Budget.
The stocks were trading with robust gains this morning, but lose momentum after the budget proposals were announced in
the Parliament by Railway Minister Dinesh Trivedi.
Shares of Kalindee Rail Nirman (Engineers) slumped by 7.80 per cent to Rs 103.45, while wagon maker Texmaco Rail and
Engineering plunged 6.46 per cent to Rs 66.60 at the BSE .
Kernex Microsystems slipped by 7.20 per cent, Titagarh Wagons was down 5.90 per cent, while Gateway Distriparks fell
by 0.17 per cent.
However, Bharat Earth Movers was trading with a modest gain of 0.63 per cent.
did not see much for their benefit in the Rail Budget.
The stocks were trading with robust gains this morning, but lose momentum after the budget proposals were announced in
the Parliament by Railway Minister Dinesh Trivedi.
Shares of Kalindee Rail Nirman (Engineers) slumped by 7.80 per cent to Rs 103.45, while wagon maker Texmaco Rail and
Engineering plunged 6.46 per cent to Rs 66.60 at the BSE .
Kernex Microsystems slipped by 7.20 per cent, Titagarh Wagons was down 5.90 per cent, while Gateway Distriparks fell
by 0.17 per cent.
However, Bharat Earth Movers was trading with a modest gain of 0.63 per cent.
14:23
Says there is no vision in the budget and prices will shoot up.
14:14
At 1415 hours, the 30-share BSE Sensex is up 110 points at 17,924.02, a gain of 0.62%.
The NSE Nifty is up 37 points at 5,466.90.
The NSE Nifty is up 37 points at 5,466.90.
14:02
Exp train fare up by 5 paisa per km, 10 p per km for a/c chaircar, 10 p per km for a/c 3-tier, 15 p per km for a/c 2-tier, 30 p per km for a/c 1st class.
13:58
At 1400 hours, the 30-share BSE Sensex is up 101 points at 17,915.09, a gain of 0.57%.
The NSE Nifty is up 31 points at 5,460.30.
The NSE Nifty is up 31 points at 5,460.30.
13:55
Fares in future may be linked to fuel prices.
Fares hiked by 5 paise per km for Sleeper Class.
Fares hiked by 5 paise per km for Sleeper Class.
13:54
Platform tickets to cost Rs five.
Railways to hike passenger fares - ranging from 2 paisa to 30 paisa per kilometer.
Body of experts to examine setting up of an independent Railway Tariff Regulatory Authority.
Railways to hike passenger fares - ranging from 2 paisa to 30 paisa per kilometer.
Body of experts to examine setting up of an independent Railway Tariff Regulatory Authority.
13:52
This is the first hike in passenger fares in 10 years.
2 paise/km to 30 paise/km increase in fares.
2 paise/km to 30 paise/km increase in fares.
13:50
Proposes to Restructure the Railway Board.
Railways to install security systems at 202 stations
In 2011, 80,000 people were recruited to fill the vacancy and in 2012, more than 1 lakh to be recuited and it will clear the backlog.
Proposes to set up Rail Khel Ratna award for outstanding sportspersons
Railways to install security systems at 202 stations
In 2011, 80,000 people were recruited to fill the vacancy and in 2012, more than 1 lakh to be recuited and it will clear the backlog.
Proposes to set up Rail Khel Ratna award for outstanding sportspersons
13:50
75 new services on Mumbai suburban network
Proposes to set up 50 new train in Kolkata.
SMS on mobile phones to be accepted as a valid id proof.
Proposes to set up 50 new train in Kolkata.
SMS on mobile phones to be accepted as a valid id proof.
13:49
Corrosion from night soil discharged from toilets on tracks costs Rs 350 cr a yr
Wagon unit to be set at Sitapali in Ganjam district of Orissa
Project to connect Agartala (Tripura) with Akhaura in Bangladesh to be undertaken in 2012-13
Wagon unit to be set at Sitapali in Ganjam district of Orissa
Project to connect Agartala (Tripura) with Akhaura in Bangladesh to be undertaken in 2012-13
13:48
Fare hike: For AC 3 tier- 10 paise per km, AC 2 TIER- 15
paise per km, 2nd class- 3 paise per km
13:47
Guided by over-riding concerns, no steep increase in fares.
Arjuna awardees to be given facility of concession in Rajdhani express.
Under Izzat Scheme, fares according to kilometres travelled to be increased.
Arjuna awardees to be given facility of concession in Rajdhani express.
Under Izzat Scheme, fares according to kilometres travelled to be increased.
13:45
50% concession to patients suffering from Anemia, sickle cell Anemia diseases, in AC coaches
Rs 3,000 cr loan extended by Finance Ministry to meet urgent safety needs to be returned in 2012-13 itself.
FY 13 ordinary expenses seen at Rs 84,400 cr
Rs 3,000 cr loan extended by Finance Ministry to meet urgent safety needs to be returned in 2012-13 itself.
FY 13 ordinary expenses seen at Rs 84,400 cr
13:41
114 new line surveys to be undertaken during 2012-13
21 new passenger and 75 new express trains to be launched
85 new line projects to be taken up during 2012-13
21 new passenger and 75 new express trains to be launched
85 new line projects to be taken up during 2012-13
13:41
Wait-listed passengers to get alternate train reservations
Improvement of passenger amenities to cost Rs 1,112 cr; regional cuisines to be introduced
Proposes E-auctions to smoothen procurement
Improvement of passenger amenities to cost Rs 1,112 cr; regional cuisines to be introduced
Proposes E-auctions to smoothen procurement
13:40
Railways have not defaulted in payment of dividends despite difficulty.
Freight earning target at Rs 89,339 crore.
Freight earning target at Rs 89,339 crore.
13:40
I propose to modernise production units: Dinesh Trivedi.
80,000 persons were recruited in 2011 to fill up safety and mechanical vacancies: Trivedi
e-procurement, e-auction of scraps planned
80,000 persons were recruited in 2011 to fill up safety and mechanical vacancies: Trivedi
e-procurement, e-auction of scraps planned
13:40
75 new services in Mumbai to be introduced.
Guru Parikrama special trains to run through Amritsar, Patna, Nanded routes..
Propose to introduce 75 new express trains, 21 passenger trains.
Guru Parikrama special trains to run through Amritsar, Patna, Nanded routes..
Propose to introduce 75 new express trains, 21 passenger trains.
13:40
The earning target has scaled down.
Continued ban on iron ore by Karnataka has led to downfall of 993 to 970 million metric tonnes.
Indian Railways going through a difficult phase: Trivedi
Continued ban on iron ore by Karnataka has led to downfall of 993 to 970 million metric tonnes.
Indian Railways going through a difficult phase: Trivedi
13:39
At 1340 hours, the 30-share BSE Sensex is up 104 points at 17,917.40, a gain of 0.58%.
The NSE Nifty is up 29 points at 5,458.60.
The NSE Nifty is up 29 points at 5,458.60.
13:39
Railways expects passenger revenues to go up by Rs 28,360 crore in 2012-13 to Rs 1,32,555 crore.'
Number of passengers expected to increase by 5.4%. Passenger earnings expected to go up to Rs 3,673 crore.
Railways hopes to increase freight revenue by 30% in 2012-13 at Rs 89,000 crore.
Number of passengers expected to increase by 5.4%. Passenger earnings expected to go up to Rs 3,673 crore.
Railways hopes to increase freight revenue by 30% in 2012-13 at Rs 89,000 crore.
13:36
Study on Delhi-Jaipur-Ajmer-Jodhpur high speed corridor to be completed.
I propose to get reputed agencies via global tender: Dinesh Trivedi.
I propose to get reputed agencies via global tender: Dinesh Trivedi.
13:36
Extension of house keeping, mobile booking, alternate train accommodating system for wait listed passengers.
5 railway sportsperson have qualified for Olympics 2012.
Proper rest period to be introduced.
5 railway sportsperson have qualified for Olympics 2012.
Proper rest period to be introduced.
13:36
NID to help improvise design to help passengers.
Plan to set up three training centres for training in disaster management.
Satellite based real-time information of trains to update passengers on all running trains in next 18 months.
Plan to set up three training centres for training in disaster management.
Satellite based real-time information of trains to update passengers on all running trains in next 18 months.
13:36
All-out efforts to maintain trains and stations for hygiene and cleanliness.
Specialised house-keeping body to enhance standard hygiene and cleanliness.
Specialised house-keeping body to enhance standard hygiene and cleanliness.
13:35
One special coach in each train for the differently abled passengers.
Special design coaches have earmarked wheelchair-borne and differently abled passenger coaches.
Special design coaches have earmarked wheelchair-borne and differently abled passenger coaches.
13:26
Logistics Corporation committee to be formed.
2,500 coaches to be provided with bio toilets.
2 new coach mfg units proposed
2,500 coaches to be provided with bio toilets.
2 new coach mfg units proposed
13:26
Proposes to set up Rail Khel Ratna award for outstanding sportspersons
Over 900 stations to be upgraded
Over 900 stations to be upgraded
13:25
I propose to raise allocation for passenger amenities from Rs 762 crore to Rs 1,112 crore in 2013: Trivedi.
Propose to set up rail connectivity to Nepal from Bilaspur and Agartala to Akhaura in Bangladesh.
Propose to set up rail connectivity to Nepal from Bilaspur and Agartala to Akhaura in Bangladesh.
13:24
Special coaches planned for differently-abled.
Introduction of escalators, book a meal, AC lounge to accommodate wait listed passengers.
31 projects of over 5,000 km being implemented with the support of state governments.
Introduction of escalators, book a meal, AC lounge to accommodate wait listed passengers.
31 projects of over 5,000 km being implemented with the support of state governments.
13:24
Plan to modernise 90,000 km through renewals.
800 km of lines to be gauge converted at Rs 1,950 crore in 2012-13.
All meter gauge, narrow gauge sections to be made broad gauge, except heritage lines, by end of 12th Five Year Plan.
800 km of lines to be gauge converted at Rs 1,950 crore in 2012-13.
All meter gauge, narrow gauge sections to be made broad gauge, except heritage lines, by end of 12th Five Year Plan.
13:13
The challenging task of converting DC to AC has been achieved in the western railways.
700 km of double tracking to be carried out in FY 2012-13.
I propose to achieve 6,500 km electrification. Udhampura, Srinagar, Baramullah line to be electrified: Trivedi.
700 km of double tracking to be carried out in FY 2012-13.
I propose to achieve 6,500 km electrification. Udhampura, Srinagar, Baramullah line to be electrified: Trivedi.
13:13
1,500 EMU coaches have been added. The MUTP phase-2 work is also progressing well: Trivedi.
The Mumbai Railway Vikas Corporation has successfully completed the flagship project of MUTP.
Kolkata metro works progressing very well.
The Mumbai Railway Vikas Corporation has successfully completed the flagship project of MUTP.
Kolkata metro works progressing very well.
13:12
1,500 EMU coaches have been added. The MUTP phase-2 work is also progressing well.
Working on PPP for elevated Churchgate-Virar corridor.
Working on PPP for elevated Churchgate-Virar corridor.
13:12
The budgetary support has been modest at Rs 25,000 crore vs the requirement of Rs 45,000 crore.
Propose Rs 4,410 core for capacity augmentation works: Dinesh Trivedi.
Propose Rs 4,410 core for capacity augmentation works: Dinesh Trivedi.
13:11
Tied up World Bank funding for Dedicated freight corridor.
PPP needed as government funding is inadequate.
PPP needed as government funding is inadequate.
13:11
2 new coach manufacturing units proposed.
Plan to provide rail connectivity to Nepal and Bangladesh.
Plan to provide rail connectivity to Nepal and Bangladesh.
13:11
Rail coach factory at Palakkad to be set up with support from the Kerala government.
Raebareli coach factory ready for rolling.
Raebareli coach factory ready for rolling.
13:11
New line planned to Nepal from Bihar.
I propose to establish a plant of traction for high horse power to be set up in Vidisha in Madhya Pradesh: Dinesh Trivedi.
I propose to establish a plant of traction for high horse power to be set up in Vidisha in Madhya Pradesh: Dinesh Trivedi.
13:11
Time has come for formulating national policy for railways on the lines of that for defence and external affairs
85 new line projects, 114 new line surveys to be carried out.
85 new line projects, 114 new line surveys to be carried out.
13:07
31 projects of over 5,000 km being implemented with the support of state governments.
13:07
At 1305 hours, the 30-share BSE Sensex is up 73 points at 17,886.73, a gain of 0.41%.
The NSE Nifty is up 24 points at 5,454.30.
The NSE Nifty is up 24 points at 5,454.30.
13:06
Railways to plough back dividend of Rs 20,000 crore into modernisation.
Sam Pitroda to head Railway modernisation plan.
Sam Pitroda to head Railway modernisation plan.
13:06
Wishes to fullfill each and every demand of the Member of the Parliament.
Plans to bring down operating ratio to 84% by FY14 from current level of 95%
Plans to bring down operating ratio to 84% by FY14 from current level of 95%
12:56
Double decker container trains also planned.
Total market borrowing in FY 2012-13 for Railways expected at Rs 65,000 crore: Trivedi #RailBudget
To allocate Rs 4,410 crore on capacity augmentation work.
Total market borrowing in FY 2012-13 for Railways expected at Rs 65,000 crore: Trivedi #RailBudget
To allocate Rs 4,410 crore on capacity augmentation work.
12:56
I propose to create a logistics corporation to handle the last mile service for freight traffic: Dinesh Trivedi.
Plan to set up Indian Railway Station Organisation to redevelop, maintain stations on the lines of airports: Trivedi.
Plan to set up Indian Railway Station Organisation to redevelop, maintain stations on the lines of airports: Trivedi.
12:56
Travel time from Delhi to Kolkata will get reduced from 17 hours to 14 hours.
Introduction of new wagons and auto car are planned.
Introduction of new wagons and auto car are planned.
12:55
Rs 6872 crore allocated under the new line plan
Development of major stations to create 50,000 jobs
New lines to be laid in under developed parts
Development of major stations to create 50,000 jobs
New lines to be laid in under developed parts
12:55
63,000 crore allocated for modernising tracks
17 gauge conversion projects will be completed in FY 12-13
825 kms of gauge conversion projects to be completed
17 gauge conversion projects will be completed in FY 12-13
825 kms of gauge conversion projects to be completed
12:54
Trivedi: Be ready to bite the bullet to modernise railways
Doubling of lines of 750 kms will be completed in FY12-13
To complete 45 new lines in FY 13
Doubling of lines of 750 kms will be completed in FY12-13
To complete 45 new lines in FY 13
12:53
825 km of gauge conversion to be completed.
All the lines, which the Planning Commission has given approval for have been included.
State governments are requested to come forward to share the cost to facilitate early completion of projects
All the lines, which the Planning Commission has given approval for have been included.
State governments are requested to come forward to share the cost to facilitate early completion of projects
12:52
To invest Rs 18,193 cr in FY13 on rolling stock.
12:52
Indian Railways Stations Development Corp will redevelop stations and maintain them on pattern of airports.
Pan India connectivity from Navi Mumbai.
Budgetary support estimated at Rs 25,000 crore.
Pan India connectivity from Navi Mumbai.
Budgetary support estimated at Rs 25,000 crore.
12:51
New coaching complex in Panvel.
To facilitate running to heavier trains.
To facilitate running to heavier trains.
12:50
At 1250 hours, the 30-share BSE Sensex is up 57 points at 17,870.94, a gain of 0.32%.
The NSE Nifty is up 22 points at 5,451.90.
The NSE Nifty is up 22 points at 5,451.90.
12:45
Modernise rolling stock via fresh purchases of wagons, engines
Total investment to modernise signalling system at Rs 39,110 crore.
Total investment to modernise signalling system at Rs 39,110 crore.
12:45
Need to upgrade capacity and technology for Indian Railways
To spend Rs 63,212 crore on track modernization in 5 years
To spend Rs 63,212 crore on track modernization in 5 years
12:44
To spend Rs 1.71 lakh cr on rolling stock over next 5 years
Market borrowing through IRFC at Rs 50,000 cr needed in 2012
Market borrowing through IRFC at Rs 50,000 cr needed in 2012
12:44
Plan to modernise 19,000 km through renewal upgradation of tracks.
GBS for Railways in FY 2012-13 targeted at RS 24,000 crore: Trivedi.
The annual plan for FY 2012-13 is targeted at Rs 60,100 crore, which the highest ever planned investment
GBS for Railways in FY 2012-13 targeted at RS 24,000 crore: Trivedi.
The annual plan for FY 2012-13 is targeted at Rs 60,100 crore, which the highest ever planned investment
12:42
Modernisation of rolling stocks, upgradation of EMUs; wagons, coaches will be priority.
The track to be modernised accounts for 80% of the traffic.
The track to be modernised accounts for 80% of the traffic.
12:42
Rly Minister says there are 3,000 demands for enhancing amenities, 646 for new trains
Targets passenger speed of 160 km an hour
Targets passenger speed of 160 km an hour
12:41
487 approved projects at various levels of execution
Govt should work on a national plan for the railways, extend support
Railways should get at least 10% of government's infrastructure spends
Govt should work on a national plan for the railways, extend support
Railways should get at least 10% of government's infrastructure spends
12:35
We cannot imagine India without railways: Trivedi.
Want the operating ratio to be at 74% by FY 2016-17.
We have received 5,741 requests in total in various states, the minister added.
Want the operating ratio to be at 74% by FY 2016-17.
We have received 5,741 requests in total in various states, the minister added.
12:34
Eyes Rs 14 lakh cr over next 10 years for funding projects
Special projects for North East and Jammu & Kashmir
We need national investment to make Indian Railways the best in the world.
Special projects for North East and Jammu & Kashmir
We need national investment to make Indian Railways the best in the world.
12:31
I have two options - either to keep the railways status quo or byte the bullet, the minister said.
I have a Himalayan task of running the railways: Trivedi.
I have a Himalayan task of running the railways: Trivedi.
12:30
A huge sum of Rs 14 lakh crore is required in the next 10 years for this sector.
Want to reduce operating ratio from 95% to 84.9% in FY 2012-13: Trivedi
The areas of focus are safety, consolidation, decongestion and augmentation, and modernisation.
Want to reduce operating ratio from 95% to 84.9% in FY 2012-13: Trivedi
The areas of focus are safety, consolidation, decongestion and augmentation, and modernisation.
12:30
Target of reducing accidents from 0.55 to 0.17 has been met.
Plan to bring down operating ratio which is at the moment 95%
Plan to bring down operating ratio which is at the moment 95%
12:30
There are 487 unfinished projects of new lines gauge conversion and new lines worth Rs one lakh crore: Trivedi.
Independent railway safety authority to be set up as statutory safety body.
Independent railway safety authority to be set up as statutory safety body.
12:28
At 1230 hours, the 30-share BSE Sensex is up 32 points at 17,845.53, a gain of 0.18%.
The NSE Nifty is up 12 points at 5,441.40.
The NSE Nifty is up 12 points at 5,441.40.
12:27
An expert committee observed that the Indian Railways suffers from an implementation bug, Trivedi said.
12:26
Most of the projects can't be completed in a time-bound manner unless supported by Government: Dinesh Trivedi
I seek Rs 2.5 lakh crore as budgetary support from Government in the 12th Plan: Dinesh Trivedi
Will invest Rs 3.5 lakh crore during the 12th plan in Railways, the minister said.
I seek Rs 2.5 lakh crore as budgetary support from Government in the 12th Plan: Dinesh Trivedi
Will invest Rs 3.5 lakh crore during the 12th plan in Railways, the minister said.
12:26
I'm glad to inform that I have chosen modernisation to become a powerful growth mechanism for the Indian economy: Dinesh Trivedi
The choice before me is either to keep the system dragging or build a modern system: Dinesh Trivedi
The choice before me is either to keep the system dragging or build a modern system: Dinesh Trivedi
12:23
Railways has Rs 1 lakh crore of pending projects.
Plan to bring down operating ratio which is at the moment 95%.
Plan to bring down operating ratio which is at the moment 95%.
12:22
Safety standards have to ve improved
Our vision should be zero deaths.
Our vision should be zero deaths.
12:22
Gross budgetary support of Rs 7.35 lakhs crore for Railways.
487 projects have already been approved and most of the project unless supported by government can't be completed on time
487 projects have already been approved and most of the project unless supported by government can't be completed on time
12:19
Anil Kakodkar to head rail safety panel.
Requests for ploughing back of dividend of Rs 20,000 cr
Proposes Railway Safety Fund of Rs 16,800 crore
Railways must attract at least 10% of the government investment plan.
Proposes on implementation and modernisation.
Requests for ploughing back of dividend of Rs 20,000 cr
Proposes Railway Safety Fund of Rs 16,800 crore
Railways must attract at least 10% of the government investment plan.
Proposes on implementation and modernisation.
12:17
Special purpose vehicle will be set up to prevent accidents at unmanned railway crossings.
Trivedi proposes to set up Independent Railway Safety Authority.
Trivedi proposes to set up Independent Railway Safety Authority.
12:16
More than 40% of accidents involving 60-70% casualties occur at unmanned crossings, the minister said.
He said, he plans to eliminate all unmanned crossings in the next five years.
He said, he plans to eliminate all unmanned crossings in the next five years.
12:14
At 1215 hours, the 30-share BSE Sensex is up 70 points at 17,884.10, a gain of 0.40%.
The NSE Nifty is up 25 points at 5,454.65.
The NSE Nifty is up 25 points at 5,454.65.
12:13
Safety of Indian Railways has to be benchmarked against modern railways in the world.
The minister said he plans to set up Independent Railway Safety Authority, Rail Research and Development Council.
The minister said he plans to set up Independent Railway Safety Authority, Rail Research and Development Council.
12:10
Rail stocks losers: GMR Infra, Stone India, HCC, IVRCL Infra, Titagarh Wagons.
12:09
Rail stocks gainers: Texmaco, Bartronics, L&T, Gateway Distriparks, Kernex Micro.
12:08
Minister says his focus will be mostly on safety.
12:07
Have received Lalu Yadav's blessings, says Trivedi during his maiden Rail Budget.
12:07
Trivedi says he is grateful to both Mamata Banerjee and Lalu Prasad.
11:58
At 1200 hours, the 30-share BSE Sensex is up 50 points at 17,863.13, a gain of 0.28%.
The NSE Nifty is up 18 points at 5,447.95.
The NSE Nifty is up 18 points at 5,447.95.
11:56
Corporate America has urged Finance Minister Pranab Mukherjee to issue a bold Union Budget that would unleash the next generation of economic reforms and help the country realise its full growth potential.
In a 22-page memorandum submitted to the FM, the US India Business Council sought reforms in key areas including opening up the multi-brand retail sector to reduce food inflation.
In a 22-page memorandum submitted to the FM, the US India Business Council sought reforms in key areas including opening up the multi-brand retail sector to reduce food inflation.
11:54
Feb WPI inflation at 6.95% vs 6.55% in Jan.
11:44
At 1145 hours, the 30-share BSE Sensex is up 57 points at 17,870.27, a gain of 0.32%.
The NSE Nifty is up 25 points at 5,454.20.
The NSE Nifty is up 25 points at 5,454.20.
11:42
Lok Sabha is adjourned.
11:33
Petrol prices likely to go up soon.
11:30
Kingfisher announced further reduction in its flight schedule and said its promoter Vijay Mallya will meet pilots
agitating over delayed salary on Thursday.
Last month the company had informed the authorities that it will be operating 140 flights daily.
The airline also said it has returned wide body airbus A 330-200 aircraft to a lessor in the United Kingdom.
At 1130 hours, the 30-share BSE Sensex is up 84 points at 17,897.60, a gain of 0.47%.
The NSE Nifty is up 35 points at 5,464.45.
agitating over delayed salary on Thursday.
Last month the company had informed the authorities that it will be operating 140 flights daily.
The airline also said it has returned wide body airbus A 330-200 aircraft to a lessor in the United Kingdom.
At 1130 hours, the 30-share BSE Sensex is up 84 points at 17,897.60, a gain of 0.47%.
The NSE Nifty is up 35 points at 5,464.45.
11:26
Railways needs Rs 1 lakh crore over the next five years to tone up infrastructure and improve safety standards.
11:25
For years, railways has been talking of revamping its signaling and telecom systems in addition to track renewal. But with ministers focusing on launching new trains to please their constituency, safety has been glossed over.
11:24
Rail stocks gainers: Texmaco, Kernex Micro, Bartronics, Gateway Distriparks.
11:17
Railway stocks gain ahead of the Budget.
11:15
What the industry wants:
Attract private investments in Railways, urges CII
Need to focus on finances, says ICICI Securities
Attract private investments in Railways, urges CII
Need to focus on finances, says ICICI Securities
11:14
At 1115 hours, the 30-share BSE Sensex is up 113 points at 17,926.73, a gain of 0.63%.
The NSE Nifty is up 44 points at 5,473.00.
The NSE Nifty is up 44 points at 5,473.00.
11:12
The Rail Budget to be presented at 11 am today may not see any hikes in fares and freight rates but the possibility of imposition of a safety cess may not be ruled out, at least on the higher class fares.
Railway Minister Dinesh Trivedi is expected to carry on with the practice of not not tinkering with the second class fares like his predecessors, including Mamata Banerjee, over most part of the last decade.
Railway Minister Dinesh Trivedi is expected to carry on with the practice of not not tinkering with the second class fares like his predecessors, including Mamata Banerjee, over most part of the last decade.
11:00
At 1100 hours, the 30-share BSE Sensex is up 140 points at 17,953.58, a gain of 0.79%.
The NSE Nifty is up 46 points at 5,475.35.
The NSE Nifty is up 46 points at 5,475.35.
10:57
A rail safety panel under former Atomic Energy Commission chairman Anil Kakodkar said at least Rs 5,000 crore, which is one fourth of the annual requirement, can come by way of cess.
10:55
Trivedi reaches Parliament.
10:54
Those travelling in AC coaches may have to contend with an additional levy in the name of a safety surcharge.
10:53
Safety is emerging as the critical need for the Indian Railways given the rising casualty rate, although the number of fatal accidents may be lower.
10:47
New premium scheme on reservation may be announced.
10:46
Railway Minister Dinesh Trivedi leaves for Parliament.
10:45
National High Speed Rail Authority expected
High speed trains may be announced
Tea, snacks likely to cost more at WR stations
Rail Budget may cater to Trinamool's NE aspirations
High speed trains may be announced
Tea, snacks likely to cost more at WR stations
Rail Budget may cater to Trinamool's NE aspirations
10:36
Dinesh Trivedi is likely to spell out a blue print for upgrading signalling and telecommunication system to prevent accidents in Rail Budget 2012.
10:32
Will ensure Indian Railways will be as solid as gold: Dinesh Trivedi.
10:27
Railway Minister Dinest Trivedi reaches Rail Bhavan
Is Indian Railways sinking?
Some key facts:
7.2 billion passengers
2.2 lakh wagon
51,000 coaches
63000 km of tracks
12000 passenger trains
Earnings from passenger fares: Rs 30,000 crore
Is Indian Railways sinking?
Some key facts:
7.2 billion passengers
2.2 lakh wagon
51,000 coaches
63000 km of tracks
12000 passenger trains
Earnings from passenger fares: Rs 30,000 crore
09:55
RBI may pause only in case of oil price shock.
09:55
RBI to look for more clarity on fiscal health.
09:55
RBI may wait for cues from Budget before cutting rates.
09:54
Expect RBI to move on rates in April, says SBI.
09:52
The BSE Sensex surged as much as 1.2 per cent early on Wednesday and ragained the psychological 18,000 mark with ICICI Bank, Infosys and L&T leading the gains. The broader 50-share NSE index was up 1 per cent to 5,483.40.
09:45
HCC plans to sell 26% stake in it;s Mumbai headquarters.
Will continue to receuve supplies from Iran: Oil minister.
February inflation seen at 6.8%.
Manufacturing inflation could fall below 6%.
Will continue to receuve supplies from Iran: Oil minister.
February inflation seen at 6.8%.
Manufacturing inflation could fall below 6%.
09:36
Kingfisher Airlines said it would curtail its overseas operations as the debt-laden carrier struggles with a cash crunch and mounting losses.
The airline has been struggling to continue its normal operations as a heavy debt load, higher jet fuel costs, stiff competition and low fares severely hurt its ability to raise funds.
The airline has been struggling to continue its normal operations as a heavy debt load, higher jet fuel costs, stiff competition and low fares severely hurt its ability to raise funds.
09:17
Both the 30-share BSE Sensex and NSE Nifty opened in the green.
08:58
Among individual stocks, keep a tab on railway related stocks such as Kalindee Rail, Texmaco, Titagarh Wagons and Kernex Microsystems.
08:57
Back home, the Nifty is likely to face resistance around 5,445-5,460, and on the downside it can seek support around 5,410-5,400, technical analysts say. At 730am Indian Standard Time, the SGX Nifty was trading at 5,544 levels, up 72 points.
08:57
The Dow Jones industrial average rose 1.7 per cent, to 13,178. The Standard & Poor's 500 Index gained 1.8 per cent to 1,396.
Asian shares rose on Wednesday with The MSCI Asia Pacific ex-Japan index carrying the momentum from overnight and rose 0.3 per cent, while Japan's Nikkei average opened up 1.7 per cent.
Asian shares rose on Wednesday with The MSCI Asia Pacific ex-Japan index carrying the momentum from overnight and rose 0.3 per cent, while Japan's Nikkei average opened up 1.7 per cent.
08:57
The markets are likely to open on a cautious note ahead of the Railway Budget which is to be announced today. Inflation numbers for the month of February will also keep gains in check.
The dollar jumped against the euro and the yen on Tuesday after comments by the Federal Reserve drove down expectations that it would further ease monetary policy, and US stocks notched multi-year highs on optimism on the economy.
The dollar jumped against the euro and the yen on Tuesday after comments by the Federal Reserve drove down expectations that it would further ease monetary policy, and US stocks notched multi-year highs on optimism on the economy.
08:54
The panel suggested 10 per cent tax be levied on taxable income between Rs 3-10 lakh, 20 per cent between Rs 10-20 lakh and 30 per cent on income over Rs 20 lakh. At present, the slabs are Rs 1.8-5 lakh, Rs 5-8 lakh, and above Rs 8 lakh, while the slabs proposed by the finance ministry under the Direct Taxes Code Bill were Rs 2-5 lakh, Rs 5-10 lakh and above Rs 10 lakh.
08:52
A Parliamentary panel has recommended the income tax exemption limit be raised to Rs 3 lakh a year in its report on the Direct Taxes Code Bill, against Rs 180,000 at present. The Bill, which will replace the I-T Act, 1961, is expected to be effective from April 1, 2013.
Although introduction of the Direct Taxes Code, earlier scheduled for April 2012, may be pushed further due to lack of time to complete necessary formalities, submission of the report by the Standing Committee on Finance at this juncture may pave the way for the introduction of some provisions of the Bill in the Union Budget on March 16.
08:14
Global markets are all in the positive region. While Dow and Nasdaq closed in the green on Tuesday, all major Asian markets are now trading up.
08:13
Considered the lifeline of India's economy, Indian Railway is in dire need to continuous flow of funds for its expansion and safe operations.
About 65% of railway revenue comes from freight, 30% from passenger traffic and 5% from other sources. Bulk of expenditure is on manpower and fuel.
There has been no increase in passenger fares over the last 10 years, although input costs have more than doubled. Subsidy from freight to passenger business has been rising. This could be sustained in the past when the economy grew at a scorching pace. However, with growth slowing down, surplus for investment has plummeted to an all-time low.
About 65% of railway revenue comes from freight, 30% from passenger traffic and 5% from other sources. Bulk of expenditure is on manpower and fuel.
There has been no increase in passenger fares over the last 10 years, although input costs have more than doubled. Subsidy from freight to passenger business has been rising. This could be sustained in the past when the economy grew at a scorching pace. However, with growth slowing down, surplus for investment has plummeted to an all-time low.
TOP STORIES
Moneywiz Live!
© 2024 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Feedback - About us - Terms of use - Grievances