FREIGHT RATES UNTOUCHED IN RY BUDGET

Article Abstract:

The Railway Budget for 1998-99 has increased passenger fares by between 5 percent and 20 percent to mobilise around Rs400 crore during the year. The second class passengers will provide Rs250 crore extra revenue, second class mail and express traffic will pay Rs100 crore, upper class passenger traffic will pay Rs50 crore and freight will contribute another Rs50 crore. The freight rates for essential items for public distribution system will remain the same or less than the 1997-98 level and bulk goods like coal, steel and cement, transported beyond 1,500 km will pay 2 to 5 percent less freight rates. With increase in passenger fares, the cross subsidisation of passenger traffic by freight will be reduced substantially. This reduction will be Rs450 crore, from a little over Rs2,800 crore to around Rs2,400 crore. In 1998-99, the gross traffic receipts are estimated at Rs31,022 crore, ordinary working expenses at Rs23,720 crore, total working expenses at Rs28,411 crore, net traffic receipts at Rs2,611 crore, net miscellaneous receipts at Rs372 crore and net railway revenue at Rs2,983 crore. The dividend payable during the year increased to Rs1,777 crore, appropriation for depreciation reserve fund increased to Rs2,473 crore, excess amounted to Rs1,206 crore and annual plan size is estimated to be Rs9,500 crore. (gsh)

Comment:

India: Railway Budget for 1998-99 raises passenger fares by between 5% and 20% to mobilize around Rs400 crore during the year

Government domestic functions, Commodity & service prices, Regulation and Administration of Transportation Programs, Railroad Programs, Railroad policy

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ELRTS PROJECT REVAMPED IN COST-CUTTING EXERCISE

Article Abstract:

The Elevated Light Rail Transit System (ELRTS) project proposed for the Bangalore city, is being ravamped to make it viable in the first phase itself. As per the recommendations of the engineering consultant, Bechtel, the cost estimate and technical parameters are also being restructured. The project report is being prepared by the UB consortium. The project will be implemented by Bangalore Mass Rapid Transit Corporation Ltd (BMRTCL). The Karnataka government will hold a stake of 25 percent in the equity of the project, which is estimated at Rs2,400 crore by the Infrastructure Leasing & Financial Services Ltd. The UB consortium comprises of transportation companies like US-based ICF Kaiser Engineers Inc and Transportation and Transit Associates Inc, Nippon Sharyo Ltd of Japan and UB Transit Systems Ltd. (gsh)

Comment:

Will implement Elevated Light Rail Transit System project proposed for Bangalore, India

Facilities & equipment, Bangalore Mass Rapid Transit Corporation Ltd.

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RYS LIKELY TO MAKE Rs1,000-Cr LOSS AS FREIGHT DROPS

Article Abstract:

In 1998-99, the Railways are expected to incur a loss of Rs1,000 crore due to drop in freight traffic, which has been hit by demand recession. In the first four months of 1998, the department has lost Rs500 crore and the loading target also has been revised to 420 million tonne, same as 1997, compared to the target of 440 million tonne. This is expected to result in a shortfall in the proposed budgetary resources estimated in 1998-99 budget. (gsh)

Comment:

India: Railways expected to lose Rs1,000 Crore due to drop in freight traffic caused by low demand

Sales, profits & dividends

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