Arun Jaitley had introduced the Union budget 2017-2018 in the parliament today.The First Budget after the demonetization had its significance since people set big hopes.-
Speaking at the presentation, Mr. Jaitley had said that he was feeling very privileged to present the first Budget of independent India that contains railways.
Union Budget 2017-2018 by Arun Jaitley: Key Points of the Budget
On Speaking at the Budget session Jaitley said that”For passenger safety, a Rashtriya Rail Sanraksha Kosh will be created with a corpus of INR 1 lakh crores over a period of 5 years. Besides seed capital from the government, the Railways will arrange the balance resources from their revenues and other sources.”
He added that The government would lay down clear cut guidelines, and timeline for implementing various safety works to be funded from this ‘Kosh.’ Unmanned level crossings on Broad Gauge lines will be eliminated by 2020. Expert international assistance will be harnessed to improve safety preparedness and maintenance practices,”
Rail Budget 2017-2018:
- By 2019, All Indian Railways coaches will be fitted with Bio-Toilets
- Cashless Railway Bookings have moved up to 68%
- The Union Budget 2017 allocates the fund of Rs 1 lakh crore for Rail safety with a time limit of 5 years.
- No Service charges on rail tickets booked through IRCTC
- Total expenditure allotted for Railways in 2017-18 is Rs 1.31 lakh crore, which includes Rs 55,000 crore to be provided by government.
- Government to list state-run companies like IRCTC, IRFC, and IRCON on stock exchange to unlock the value of these PSUs
- 500 railway stations will be made differently-abled friendly by providing lifts and escalators.
Economic Survey 2017 Tabled in Parliament: Key Points to Know
Jaitley had given priority to the railways in the budget after the merger by making key sanctions to the Indian Rail Department. It seems that due to the heavy mishaps and derails the finance minister had given importance to the safety of the people rather than anything.