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Live! 'Dynamic pricing' of rail fares to be expanded: Kharge

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February 12, 2014


13:11  Initiatives to promote use of renewable energy in have been focus

Three new railway factories have been introduced

Dedicated freight corridor to reduce transit time by half
13:06  FDI being enabled to foster creation of world-class rail infrastructure; several PPP projects in pipeline.

Rail infrastructure by cost sharing with govts of Karnataka, Jharkhand, Andhra Pradesh and Haryana.
13:04  Operating ratio likely to be 90.8 per cent; Railways will end current year with surplus: Kharge.
13:03  Rail Land Development Authority has raised Rs 937 crore so far: Kharge.
13:03  Nanded Aurangabad Express (Weekly) via Purna, Parbhani

Nagpur Rewa Express (Weekly) via Satna

Nagercoil Kacheguda Express (Weekly) via Karur, Namakkal, Salem

Pune Lucknow Express
(Weekly) via Khandwa, Bhopal, Bina, Jhansi, Kanpur

Ramnagar Chandigarh Express (Weekly) via Moradabad, Saharanpur

Ranchi New Jalpaiguri Express (Weekly) via Jhajha, Katihar

Secunderabad Visakhapatnam AC Express (Weekly) via Kazipeth, Vijaywada

Santragachi Anandvihar Express (Weekly)

Srigangnagar Jammu Tawi Express (Weekly) via Abohar, Bathinda, Dhuri

Thiruvananathapuram-Nizamuddin Express (Bi-weekly) one day via Kottayam and  one day via Allepey

Varanasi Mysore Express
(Bi-weekly) via Wadi, Daund
13:02  Hyderabad Gulbarga Intercity (Daily)

Jaipur Chandigarh Intercity (Daily) via Jhajjar;

Kacheguda Tirupati Double Decker Express
(Bi Weekly);

Kota Jammu Tawi Express
(Weekly) via New Delhi, Ambala

Kanpur Bandra (T) Express
(Weekly) via Kasganj, Mathura, Kota

Lucknow Kathgodam Express (Tri-weekly)

Manduadih Jabalpur Express
(Weekly) via Allahabad, Manikpur, Satna

Malda Town Anand Vihar Express (Weekly) via Amethi & Rae Bareli;

Mannargudi Jodhpur Express (Weekly) via, Jaipur

Mumbai Chennai Express
(Weekly) via Pune, Gulbarga, Wadi

Mumbai Gorakhpur Express
(Weekly) via Gonda, Balrampur, Barhani (after gauge conversion);

Mumbai Karmali AC Express
(Weekly) via Roha
13:00  The 38 Express Trains are as follows:

Ahmedabad Katra Express (Weekly) via Palanpur, Jaipur, Rewari, Hisar, Bathinda, Amritsar

Ahmedabad Lucknow Jn Express (Weekly) via Palanpur, Jaipur, Bandikui, Mathura, Kasganj

Ahmedabad Allahabad Express (Weekly) via Jalgaon, Khandwa, Itarsi, Satna, Manikpur

Amritsar Gorakhpur Express (Weekly) via Saharanpur, Moradabad, Sitapur Cantt.

Aurangabad Renigunta Express (Weekly) via Parbhani, Bidar, Vikarabad

Bangalore Chennai Express (Daily) via Bangarpet, Jolarpettai

Bandra (T) Lucknow Jn Express (Weekly) via Kota, Mathura, Kasganj

Bareilly Bhopal Express (Weekly) via Chandausi, Aligarh, Tundla, Agra

Bhavnagar Bandra Express (Weekly) via Ahmedabad

Bhavnagar- Delhi Sarai Rohilla Link Express (Weekly)

Gandhidham Puri Express (Weekly)

Gorakhpur Pune Express (Weekly) via Lucknow, Kanpur, Bina, Manmad

Guntur-Kacheguda Double Decker Express (Bi-weekly);

Howrah Yeswantpur AC Express (Weekly)via Bhubaneswar, Gudur, Katpadi

Hubli Mumbai Express (weekly) via Bijapur, Sholapur
12:48  The 17 premium are as follows:

Howrah Pune AC Express (Bi-weekly) via Nagpur, Manmad

Kamakhya New Delhi AC Express (Weekly) via Chhapra, Varanasi

Kamakhya Chennai AC Express (Weekly) via Malda, Howrah

Mumbai Howrah AC Express (Bi-weekly) via Nagpur, Raipur

Mumbai Patna AC Express (Bi-weekly) via Khandwa, Itarsi, Manikpur

Nizamuddin Madgaon AC Express (Bi-weekly) via Kota, Vasai Road

Sealdah Jodhpur AC Express (Bi-weekly) via Mughalsarai

Yesvantpur - Jaipur AC Express (Weekly) via Gulbarga, Pune, Vasai Road

Ahmedabad Delhi Sarai Rohilla Express (Tri-weekly) via Palanpur, Ajmer, Rewari

Bandra Amritsar Express (Weekly) Via Kota, New Delhi, Ambala

Bandra (T) Katra Express (Weekly) via Kota, New Delhi, Ambala

Gorakhpur New Delhi Express (Bi-weekly) via Lucknow, Moradabad

Katra Howrah Express (Weekly) Express via Mughalsarai, Varanasi, Saharanpur

Mumbai Gorakhpur Express ( Bi-weekly) via  Khandwa, Jhansi, Kanpur

Patna Bangalore Express (Weekly) via Mughalsarai, Chheoki, Manikpur, Nagpur

Yesvantpur Katra Express (Weekly) via Gulbarga, Kacheguda, Nagpur, New Delhi

Thiruvananthpuram Bangalore (Yesvantpur) Express (Bi- weekly) via Erode, Tirupattur
12:44  Titagarh Wagons: We would have loved to seen more announcements on FDI, PPP and investments

Titagarh Wagons: Will have to wait for the next few months for the full Railway budget

Mythili Bhusnurmath: Thankful that he did not announce populist measures

Raghu Dayal: Railways are incurring annual loss to the tune of Rs 26,000 crore on passenger fares

Raghu Dayal: Railways has to get more freight
12:42  Ten passenger trains will also be launched.

Independent Rail Tariff Authority set up to advise on fixing of fares and freight, to engage all stakeholders.
12:38  Freight rates remain untouched

12:38  Amid chaos, the Railway Budget speech has come to an abrupt end. Some reports are claiming the Parliament has been adjourned for the day. The vote-on-account documents will be tabled in Parliament.

Premium AC Sspecial train in Delhi-Mumbai sector with shorter advance reservation period and dynamically varying
premium over tatkal fare.

Railways meet from own resources total additional impact of Rs one lakh crore because of 6th Pay Commission.
12:34  Ramesh Chandak: Indusrty was expecting more concrete proposals

Mallikarjun Kharge: FY15 gross traffic receipts seen at Rs 1.16 lakh crore

Railways losing 0.5% market shares every year

Need budgetory resources of Rs 19,805 crore for FY15

Need urgent investment is railways to improve services

Dedicated freight corridor to cut transit time by half

Have successfully met 6th pay panel recommendations
12:29  Rail Min seeks okay for spending for 1st 4 months of FY15

Need to take serious note of needs of the rails: Kharge

Completed electrification of 4556km Vs 4500km aim: Min

Set up 2207km of new lines in 11th 5-year plan: Min

`Will provide funds for some pressing nat'l projects`

Setting up 11.2 km-long tunnel in J&K a landmark: Min
12:26  2702 kms of new railways

Mallikarjun Kharge: Will commission dedicated freight lines
12:25  Meghalaya set to come on rail map as part of extension of network in the Northeastern states.
12:24  
More high-speed trains to be launched: Kharge.
12:23  Electrification of over 4,000 km planned
12:20  Arunachal, Meghalaya to have better connectivity

Kharge: Railways provide low cost connectivity to all parts of India

Mallikarjun Kharge: Thankful for Sonia gandhi for this opportunity
12:19  Banihal link is an engineering marvel

Passenger rail service to Katra and Vaishnodevi to start shortly
12:18  Dedicated Eastern and Western corridor shortly

Planning investment and huge expansion

Passenger trains to Vaishno Devi soon
12:16  Kharge said: This pan-Indian organisation needs to be nurtured, adding Railways influence all aspects of our life.
12:13  Railways contribution is unprecedented, says Kharge.

Railways provide low cost connectivity to all parts of India
12:12  Kalindee Rail stock up
12:11  Umesh Choudhary of Titagarh Wagons told CNBC that theres a little possibility of reducing passenger rail fares, but feels that the Railway Minister may introduce variable passenger component.

CAG exposes alleged irregularities that cost Railways Rs 2,486 crore

Employee-friendly announcement for porters, gangmen and trackmen expected

Will help Odisha in developing Railway infrastructure: Adhir Chowdhury
Parliament session, convened mainly for the passage of the Vote-on-Account & interim Railway Budget, will have 12 sittings this month.

The budget is expected to focus on railways' achievements during the UPA regime.

Kharge's home state Karnataka may get a big project - 252.5 km Wadi-Gadag line.
12:10  Umesh Choudhary of Titagarh Wagons told CNBC that theres a little possibility of reducing passenger rail fares, but feels that the Railway Minister may introduce variable passenger component.

CAG exposes alleged irregularities that cost Railways Rs 2,486 crore

Employee-friendly announcement for porters, gangmen and trackmen expected
Will help Odisha in developing Railway infrastructure: Adhir Chowdhury

Parliament session, convened mainly for the passage of the Vote-on-Account & interim Railway Budget, will have 12 sittings this month.

The budget is expected to focus on railways' achievements during the UPA regime.

Kharge's home state Karnataka may get a big project - 252.5 km Wadi-Gadag line.
11:58  Under the dual pricing system introduced in May-July 2008, the freight rate for transporting iron ore for non-domestic consumption was more than three times the fixed rate to transport coal for domestic consumption.

The report said about Rs 15,500 crore was to be recovered as penalty and recovery from various iron export companies.

It said lapses had occurred at all levels, including by the booking staff at loading-unloading points and commercial and account officers at the divisional and zonal levels.

"The Railway Board failed to stipulate specific checks and balances for implementing their orders, the report said.
11:55  Between 2008 and 2012, Indian Railways lost revenue of about Rs 4,300 crore due to failure to ensure proper documentation of transporting iron ore under the dual pricing system, according to the Comptroller and Auditor General (CAG).

In a report tabled in Parliament on Tuesday, CAG said the railways lost revenue of Rs 2,487 crore on this account, according to an audit conducted between May 2008 and March 2012.

This had also led to additional losses of Rs 1,796 crore in revenue during 2011-12, as reported by CAG in an previous report.
11:51  Rupee trims initial gains vs dollar

The rupee trimmed its initial gains against the American currency, but was still quoted higher by seven paise to 62.15 per dollar on selling of greenbacks by banks and exporters due to weakness of dollar overseas amidst firm equity market.

The rupee resumed higher at 62.08 per dollar as against the last closing level of 62.22 per dollar at the Interbank Foreign Exchange (Forex) market and moved up further to 62.05 on selling of dollars by banks.
11:29  The govt is likely to adopt deficit financing to bridge the gap between expenditure and revenue.

Interim rail budget to focus on electrification so that dependence on diesel is less.

CAPEX on wagons, signalling systems & safety devices is ruled out: Kim Eng India
11:26  Spectrum auction takes off on 9th day

Spectrum auction took off today from Rs 58,980.29 crore mark with demand for the premium 900 Mhz band seemingly tapering off at the end of 56 rounds.

The pace of bidding at the end of 56 rounds slowed down compared to the trend seen in the past 8 days.

At the end of 56th round, total bids worth Rs 58,980.29 crore had been received, which was about Rs 650 crore more than total bids worth Rs 58,332 crore received at end of 7th day.
11:18  The 30-share BSE Sensex is up 141 points at 20,504.29, while the NSE Nifty is up 39 points at 6,101.90.
11:06  The Department of Industrial Policy and Promotion (DIPP) has proposed 100 per cent FDI through automatic route in the cash-starved railways sector.

According to the proposal, FDI will be allowed in sub-urban corridor, high-speed train systems and dedicated freight line projects implemented in PPP mode, but in areas related to train operations and safety.

In the interim budget, generally no major new projects or policies are announced.

Kingfisher Airlines posts Rs 822 cr loss in Q3

The grounded Kingfisher Airlines, which has not flown in more than a year, reported yet another quarterly loss as it had no income from operations.

Kingfisher, once India's no. 2 carrier and headed by flamboyant liquor baron Vijay Mallya, said net loss was Rs 822 crore for its fiscal third quarter to end-December, compared with a loss of Rs 755 crore (Rs 7.55 billion) a year earlier.

Kingfisher has not flown since October 2012 for want of cash, and owes about $1 billion to banks, and more to airports and the tax office. Bids to revive operations have seen little success, while some creditors have filed so-called winding up petitions at a court.

Kingfisher had never reported a profit during its eight years of operations.
10:59  The Union Cabinet may consider later this month the proposal to open railway sector to foreign investment. The home ministry has already given an in-principle nod to foreign direct investment in the sector. At present, there is a complete ban on FDI in the railways sector except the mass rapid transport systems.

In his first Rail Budget, Kharge may not call for drastic populist measures.

The Indian Railways is witnessing revenue shortfall. While the working expenses have gone up by about Rs 5,000 crore (Rs 50 billion) during April-December period, the revenue earnings have decreased by over Rs 4,000 crore (Rs 40 billion).
10:51  Rupee gains 16 paise vs dollar in early trade

The rupee on Wednesday appreciated by 16 paise to 62.06 against the US dollar in early trade at the Interbank Foreign Exchange market on increased selling of the American currency by exporters.

Dealers said besides increased dollar selling by exporters, a higher opening in the domestic equity market supported the rupee.

The rupee strengthened by 21 paise to close at 62.22 in Tuesday's trade, logging its best daily gain in two weeks after trade gap narrowed in January and the dollar fell ahead of Fed Reserve chief Janet Yellen's testimony to US Congress.
10:49  Rail stocks gain ahead of budget, Titagarh Wagons up 2%

Govt may announce adjustments in fuel subsidy that might lead to marginal reduction in fares
10:46  With general elections round the corner, there have been demands from MPs for new trains. Railway Minister Mallikarjun Kharge has conceded to some.

Focus on measures like installation of upgraded real-time train information system & automatic ticket vending machines.

The minister would address the issue of increased number of fire incidents by rolling out plans for anti-fire measures.

This will be Kharge's maiden budget and the last railway budget of Manmohan Singh-led UPA during the current term.

Kharge is likely to announce measures for better amenities for passengers, while undertaking steps to improve the fiscal position.

Railways are likely to take up about 1500 km route for electrification. Currently, only about 24,000 km is electrified

This will be Kharge's maiden budget and the last railway budget of Manmohan Singh-led UPA during the current term.

Encouraged by the success of the New Delhi-Mumbai AC premier train, two dozen premier trains may be announced.

Mallikarjun Kharge unlikely to tinker with train fares
Railway Minister Mallikarjun Kharge to present the Interim Rail Budget today
10:36  Rail stocks up ahead of Kharge's budget speech

Railway Minister Mallikarjun Kharge is likely to announce new trains and some measures for providing better amenities at stations and trains besides steps to strengthen safety for passengers.

Shares of rail stocks are rallying ahead of interim Rail Budget. Shares of Kalindee Rail Nirman (Engineers) , Texmaco Rail and Engineering , Kernex Microsystems (India) , Titagarh Wagons jumped 2-4 percent intraday on Wednesday.

Railway Minister Mallikarjun Kharge is likely to announce new trains and some measures for providing better amenities at stations and trains besides steps to strengthen safety for passengers.

Since Lok Sabha elections are round the corner, there are demands from many zones and MPs for new trains.
10:31  Nifty hits 6,100 mark; Tata Motors gains 2%

Benchmark indices are trading higher tracking firm global cues along with banks, capital goods and auto shares leading the gains.

"The markets have bounced from the oversold levels and the Nifty is likely to test the levels of 6150-6180 and Sensex around the 20750. Nifty can be bought with a stop loss of 6050, target 6180," said Manav Chopra -Technical Research Analyst from Nirmal Bang.
10:28  There are indications that passenger fares may not be touched barring minor changes in a few segments in the first rail budget to be presented by Kharge.

As this is an election year, the minister may announce some rail connectivity and factory projects for backward states along with giving new trains in states where Congress is facing a tough electoral fight.
10:00  With his party facing a tough Lok Sabha election and the railways under huge financial stress, minister Mallikarjun Kharge will try to do a balancing act in meeting populist demands such as cut in passenger fares and announcement of new trains while restoring the financial health of the state-run transporter in his interim rail budget on Wednesday.
09:55  With his party facing a tough Lok Sabha election and the railways under huge financial stress minister Mallikarjun Kharge will try to do a balancing act in meeting populist demands such as cut in passenger fares and announcement of new trains while restoring the financial health of the state-run transporter in his interim rail budget on Wednesday.
With his party facing a tough Lok Sabha election and the railways under huge financial stress, minister Mallikarjun Kharge will try to do a balancing act in meeting populist demands such as cut in passenger fares and announcement of new trains while restoring the financial health of the state-run transporter in his interim rail budget on Wednesday.With his party facing a tough Lok Sabha election and the railways under huge financial stress, minister Mallikarjun Kharge will try to do a balancing act in meeting populist demands such as cut in passenger fares and announcement of new trains while restoring the financial health of the state-run transporter in his interim rail budget on Wednesday.

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