Lalu Bows To 'Expectations Of Millions'

<?xml version="1.0" encoding="UTF-8"?><root available-locales="en_US," default-locale="en_US"><static-content language-id="en_US"><![CDATA[In a populist Budget ahead of next elections, Railway Minister Lalu Prasad today slashed passenger fares of all classes and freight rates on petrol, diesel and fly ash while dispensing sops to students, elderly women and AIDS patients. Presenting the Railway Budget for 2008-09 in Parliament, his fifth, the minister continued his trend of not hiking passenger fares by giving a 5 per cent concession across the board for all long distance trains in second class and one rupee discount for fares of Rs 50 in these trains. Under constant pressure from low fare airlines wooing the middle class, the Budget cut AC first class fares by 7 per cent and AC-II tier by 4 per cent. However, this would not apply in popular trains and during peak period when the reduction will be 50 per cent only. Rejecting criticism that it was an election-oriented Budget and for the affluent, Yadav said this Budget, like the earlier ones, had been prepared with an eye on the common man who also aspires for higher class of travel. While proposing no across-the-board hike in freight rates, the minister completed the process of rationalisation by reducing the highest class from 210 to 200 which resulted in a 5 per cent reduction on ferrying petrol and diesel. The rate on carrying fly ash has been reduced by 14 per cent. In an unusually long two-hour presentation in the Lok Sabha punctuated by 'Laluisms'-- everybody appreciates me for tremendous performance -- and jeers from Opposition members, Prasad claimed a cash surplus of Rs 25,000 crore. Announcing a slew of goodies, Yadav announced introduction of 10 new 'Garib Raths' (common man's airconditioned trains), 53 new pairs of trains, extension of 16 pairs and increase in the frequency of 11 trains. The Budget raised the concessional travel for women beyond 60 years from 30 to 50 per cent while it will continue at 30 per cent for elderly men. Free monthly tickets in second class for girl students upto 12th standard and boys upto 10th standard will be extended for girls upto graduation and boys upto the 12th standard. AIDS patients travelling to nominated Anti Retro Viral Treatment (ART centres for treatment will be given 50 per cent concession in second class passenger fares. As a special gesture for Ashok Chakra awardees, the railways will give free passes to them for travel in Rajdhani and Shatabdi trains. A number of measures have been proposed to enhance passenger amenities that will seek to end long queues at ticket counters in two years by tickets through mobile phones, raising the number of unreserved ticketing system counters from 3,000 to 15,000 and automatic ticket vending machines from 250 to 6,000. In yet another passenger-friendly measure, the Budget proposes to upgrade all low and medium-level platforms in over 600 stations to high level. Multi-level car parking lots will be provided in 30 major stations and lifts and escalators will be made available at 50 major stations. In the budget estimates for 2008-09, freight loading target has been kept 850 million tonnes. Freight, passenger, sundry other earnings and other coaching earnings have been pegged at Rs 52,700 crores, Rs 21,681 crores, Rs 5,000 crores and Rs 2,420 crores respectively. Maintaining an overall double digit growth, gross traffic earnings have been projected at Rs 81,801 crores, reflecting an increase of Rs 9,146 crores on the revised estimates for the current year. An ad hoc provision of Rs 5,000 crore has been earmarked in anticipation of the 6th Pay Commission recommendations. Total working expenses will be Rs 66,590 crores and net revenue Rs 60,423 crores. Cash surplus before dividend is projected at Rs 24,783 crore and the dividend payable for the coming year at current rate is estimated at Rs 4,636 crores. The annual plan size for 2008-09 has been fixed at Rs 37,500 crores, the alrgest ever outlay so far. Support from general revenues has been pegged at Rs 7,874 crores and internal resources at Rs 20,600 crores. In the current year, freight loading target has been revised to 790 MT at an expected growth in goods earnings of 14 per cent. In revised estimates, goods, passenger, sundry and other coaching earnings have been fixed at Rs 47,743 crores, Rs 20,075 crores, Rs 2,637 crores and Rs 2,200 crores respectively. Expected net revenue has been placed at Rs 18,416 crores and surplus after payment of dividend at Rs 13,534 crores. (PTI)