Key provisions in Narendra Modi's rail budget

Union railways minister Sadananda Gowda on Tuesday presented the Rail Budget 2014 that focused on resource mobilization and meeting targets—signalling the government's intention to pursue a reforms agenda uninhibited by political pressures. Foreign direct investment (FDI) into all areas of railways, except operations, and high-speed bullet trains were a few of the highlights of the budget. Gowda, who presented the Narendra Modi-led National Democratic Alliance's (NDA) maiden railway budget, set a target of Rs.1.64 trillion in total receipts and an expenditure of Rs1.49 trillion for the year ending 31 March. Railways has estimated a plan outlay of Rs.65,445 crore of which Rs.47,650 crore is under budgetary sources. Last year, the plan outlay was at Rs.59,359 crore. Gowda said that maximum financial outlay will be made for completing ongoing projects within this year. "Funds will be allocated to 30 priority works," he said. The railways minister also announced his government's plan to endorse the previous United Progressive Alliance (UPA) government's proposal of bringing foreign direct investment (FDI) into all areas of railways, except operations.



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