Stakes are high, as Railways which is one of India’s vital sector is in a bad shape, as it is losing money on keeping its existing operations going. To put the railway back on its feet, an informed debate is required, however, due to the merger of rail budget with Union budget, the time available to focus on the railway has reduced.
Since the year 2017, Railway Budget has been merged with the Union Budget. The NDA government did away with the 92-year-old colonial-era practice and made the rail budget a part of the general budget. In 2018, former Finance Minister Arun Jaitley had announced the largest-ever allocation of Rs 1.48 lakh crore capital expenditure for the Indian Railways in 2018-19.
This year the Rail Budget is likely to increase emphasis on public-private partnerships.
It may also boost the infrastructure building programme of the Indian Railways. Private players may be roped in for the upgradation and modernisation of the railways including setting up of railway stations.
It may also include the operation of technologically advanced trains for better convenience of passengers.
Passenger fares:
The chances of a hike in passenger fares are low this time, experts have said, as they have recently been raised while keeping the hikes delinked from the budget and freight rates may also not increase at the time of an economic slowdown. As per reports, the freight revenue is anyway running behind the target by Rs 17,600 crore till November.