NEW DELHI: Indian Railways aims to cut operating ratio, which is the money spent to earn every Rs.100, to 84.9 percent in 2012-13 from 95 percent in the current financial year, Railways Minister Dinesh Trivedisaid Wednesday.
While presenting his ministry's budget for the next fiscal, Trivedi said reducing operating ratio would be one of the priority areas of the Indian Railways in the next five years.
"Our target is to bring down the operating ratio, which is at the moment 95 percent, to 84.9 percent in 2012-13 and to 74 percent in terminal year of 12th five year plan, which will be the improvement the best ever achieved by Indian Railways," Trivedi said.
"This would need to be supported by sustainable financial model," he said.
Railway minister Dinesh Trivedi presented the Railway Budget on Wednesday and said that he was not satisfied with the current safety standards and his emphasis would be on improving them. Safety will the primary focus of Indian Railways as it enters the 12th Five Year Plan beginning April 1, Minister Dinesh Trivedi said.
"My focus will be safe safety, safety, safety," Trivedi told the Lok Sabha, adding this was the decision he took as soon as he assumed charge his ministry last year against the backdrop of a rail accident in Uttar Pradesh last year.
While presenting his ministry's budget for the next fiscal, Trivedi said reducing operating ratio would be one of the priority areas of the Indian Railways in the next five years.
"Our target is to bring down the operating ratio, which is at the moment 95 percent, to 84.9 percent in 2012-13 and to 74 percent in terminal year of 12th five year plan, which will be the improvement the best ever achieved by Indian Railways," Trivedi said.
"This would need to be supported by sustainable financial model," he said.
Railway minister Dinesh Trivedi presented the Railway Budget on Wednesday and said that he was not satisfied with the current safety standards and his emphasis would be on improving them. Safety will the primary focus of Indian Railways as it enters the 12th Five Year Plan beginning April 1, Minister Dinesh Trivedi said.
"My focus will be safe safety, safety, safety," Trivedi told the Lok Sabha, adding this was the decision he took as soon as he assumed charge his ministry last year against the backdrop of a rail accident in Uttar Pradesh last year.
"I wow to target zero deaths," he said in his maiden rail budget speech. "I also propose to set up an independent railway safety authority, as recommended by an expert group headed by the former Atomic Energy Commission chairman Anil Kakodkar."
An independent railway safety authority would also be set up, he said. Anil Kakodkar and Kasturirangan would head the railway safety panel, he announced.
The other four focus areas listed by the minister were consolidation, de-congestion and capacity augmentation, modernisation and bringing down operating ratio.
Trivedi, a member of the Trinamool Congress, said the operating ratio of the railways -- amount spent on running the network against revenues -- will be lowered to 84.5 percent from the current 95 percent, and to 74 percent by the terminal year of the 12th plan.
This is key to the network being able to garner money for expansion and modernisation.
The minister said he was looking at the current budget not as an exercise for the next fiscal alone, but also for the entire five year plan, drawing from the Vision 2020 document of his predecessor and current West Bengal Chief Minister Mamata Banerjee.
The Indian Railways run the third largest railroad network in the world spread over some 64,000 km, with 12,000 passenger and 7,000 freight trains each day from as many as 7,083 stations to ferry 23 million travellers and 2.65 million tonnes of goods daily. Given the socio-economic role played by the railways in India's transformation, Trivedi also said time had come for formulating national policy for the network on the lines of those for defence and external affairs.
An independent railway safety authority would also be set up, he said. Anil Kakodkar and Kasturirangan would head the railway safety panel, he announced.
The other four focus areas listed by the minister were consolidation, de-congestion and capacity augmentation, modernisation and bringing down operating ratio.
Trivedi, a member of the Trinamool Congress, said the operating ratio of the railways -- amount spent on running the network against revenues -- will be lowered to 84.5 percent from the current 95 percent, and to 74 percent by the terminal year of the 12th plan.
This is key to the network being able to garner money for expansion and modernisation.
The minister said he was looking at the current budget not as an exercise for the next fiscal alone, but also for the entire five year plan, drawing from the Vision 2020 document of his predecessor and current West Bengal Chief Minister Mamata Banerjee.
The Indian Railways run the third largest railroad network in the world spread over some 64,000 km, with 12,000 passenger and 7,000 freight trains each day from as many as 7,083 stations to ferry 23 million travellers and 2.65 million tonnes of goods daily. Given the socio-economic role played by the railways in India's transformation, Trivedi also said time had come for formulating national policy for the network on the lines of those for defence and external affairs.
According to the minister, Indian Railways will invest Rs.7.35 lakh crore during the 12th Five Year Plan period (2012-17), against Rs.1.92 lakh crore in the current one. By then, it will double its contribution to India's gross domestic product to 2 percent.
Trivedi said the outlay of Rs.60,100 crore proposed for 2012-13 will be the highest ever and added that the network will require Rs.14 lakh crore over the next 10 years for modernisation.
(Source- http://economictimes.indiatimes.com)
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