India’s Railway minister Mr. Suresh Prabhu presented the Railway budget today in the Parliament. In the much awaited budget, the steel minister has kept the rail fares unchanged.
Few of the prominent highlights of the Railway Budget FY17 are as follows:
- Indian railways is targeting gross revenue of INR 1,84,280 crores in upcoming fiscal.
- Non fare revenues- Station redevelopment; monetizing land along tracks; monetizing soft assets – website, data, etc; advertising – in FY17 target 4 times the revenue of FY16; overhaul of parcel business – liberalize the current parcel policies including opening the sector to container train operators; revenues from manufacturing activity – by 2020, aim at generating annualised revenues of about Rs 4,000 crore.
- Inventory management module of Track Management System launched by Indian Railways has identified 22,000 MT scrap equivaleent to INR 53 crore. During FY17, this system will be implemented on entire Indian Railways
- The Direct Freight Corridor project is gaining momentum. We propose to set up three freight corridors.
- More dedicated freight corridors to accommodate the increased demand in freight transport
In talk with SteelMint, miners shared that its a positive news for the industry that the freight rates continue to remain the same and will wait till the govt. comes up with any revision on it.
Railway freight rate of iron ore from major locations
|
Route |
Load Station-Unload Station | Distance(in KM) | Domestic/Export | Freight (in INR/MT |
Change |
| Chhattisgarh – Andhra Pradesh | NMDC – RINL | 560 | Domestic | 1,150 | Unchanged |
| Chhattisgarh – Karnataka | Barbil-JSW, Vijaynagar | 1,440 | Domestic | 2,740 | Unchanged |
| Chhattisgarh – Maharastra | NMDC-Chandrapur | 1,270 | Domestic | 2,380 | Unchanged |
| Chhattisgarh – Chhattisgarh | NMDC-Raipur | 850 | Domestic | 1,680 | Unchanged |
| Chhattisgarh – Andhra Pradesh | NMDC – Vizag port | 550 | Export | 1,510 | Unchanged |
| Odisha – Chhattisgarh | Barbil-Raipur | 650 | Domestic | 1,330 | Unchanged |
| Odisha – West Bengal | Barbil-Durgapur | 320 | Domestic | 655 | Unchanged |
| Odisha – Jharkhand | Barbil- Bokaro | 270 | Domestic | 565 | Unchanged |
| Odisha – Maharastra | Barbil-Chandrapur | 1,080 | Domestic | 2,030 | Unchanged |
| Odisha-Odisha | Barbil-Paradip Port | 425 | Export | 1,240 | Unchanged |
| Odisha – Odisha | Barbil-Jharsuguda | 350 | Domestic | 700 | Unchanged |
| Karnataka – Tamil Nadu | NMDC-JSW, Salem | 670 | Domestic | 1,330 | Unchanged |
| Karnataka – Karnataka | NMDC-JSW, Vijaynagar | 35 | Domestic | 280 | Unchanged |
| Jharkhand – Jharkhand | GUA- Bokaro | 270 | Domestic | 570 | Unchanged |
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