Railway Minister Lalu Prasad Yadav today presented his Interim Railway Budget. He handed a gift to the passengers by announcing a 2% cut in passenger fares across the board. Freight charges were untouched and mail fares brought down by 2%.

He said that he was proud that the Railways has contributed in nation building by pointing the figures that covered the 5 years of his tenure. This interim budget covered the next 4 months he said.

Review of Financial Performance

Record cash surplus of Rs 90,000 cr.
April-September freight earnings up by 19%, passenger 14%.
Dividend payable to General Revenues kept at Rs 4,711 cr.
Passenger earnings up by 14% till September.

Performance Review

Average freight grew by 3% – 8%.
FY 08 freight traffic 794 mn tonne, up 9%.
New wagon trains have 22% higher loading capacity.
Completed 4900 km gauge conversion in last 5 years.

Train accidents

Used new technology, in last 5yrs, there is marked decrease in rail accidents.
The number of consequential accidents came down to 194 in 2007-08 from 325 in FY 04.

Estimates for 2009-10

To invest Rs 70,000 cr to increase rail productivity.
To raise 100 mn debt at 4%.
Railway to create new divisions at Bhagalpur, Thane.
Railway to increase coach volume in 16 trains.