Railways to seek Rs38,000 crore as budgetary support from Finance Ministry

Burdened with increased diesel cost and a large number of pending projects, railways have sought Rs38,000 crores as general budgetary support from the Finance Ministry for fiscal 2013-14.

Railways had received Rs24,000 crores from the Finance Ministry as support in the current fiscal.

"We have sought Rs38,000 crores as budgetary support in the 2013-14 Rail Budget", said a senior Railway Ministry official.

Railway Minister Pawan Kumar Bansal will present the Rail Budget on February 26.

"There are more than 200 rail projects worth Rs1.47 lakh crores pending and we are planning to complete some of these works in the next fiscal", the official said.

Besides, Railways expect to generate Rs7000 crores revenue from internal generation and Rs18,000 crores from market borrowing next financial year.

"Certain pending projects involving laying of new lines as last-mile connectivity are being identified and we want to complete them", she said.

Railways plan to invest Rs5 lakh crore in capacity addition during the 12 Five-Year Plan (2012-17).

With the increase of passenger fares from December 22, Railways will mop up Rs6600 crores in 2013-14.

However, the recent hike in diesel price has affected the national transporter adversely and it is expected to cost Rs3300 crores as additional cost.