Railways targets record Rs 1.6 lakh crore revenue in 2014-15

Anticipating healthier economic growth, the Railways has targeted a record Rs 1.6 lakh crore in revenue for the next financial year, while no increase has been proposed in passenger fares and freight rates.

"The Budget Estimates for goods, passenger, other coaching and sundry other earnings have been kept at Rs 1,05,770 crore, Rs 45,255 crore, Rs 4,200 crore and Rs 5,500 crore, respectively, in 2014-15," Railways Minister Mallikarjun Kharge said in the Lok Sabha while unveiling the Interim Rail Budget.

In the current financial year, earnings from freight and passenger services are estimated at Rs 1,31,500 crore.

No increase in passenger fares and freight rates has been proposed in the Interim Rail Budget for 2014-15.

According to the budget document, the Annual Plan for 2014-15 envisages investments of Rs 64,305 crore. The Budget Estimate for 2013-14 was Rs 63,363 crore and the Revised Estimate was Rs 59,359 crore.

Budgetary support from general revenue has been proposed at Rs 30,223 crore, it said.

"Anticipating a healthier growth of economy, the freight traffic target is proposed at 1,101 million tonnes, an increment of 49.7 million tonnes over the current year's revised target of about 1,052 million tonnes," the budget document said.