February 25, 2000
Y2K BIZ FEATURES
INDIA & THE W.T.O.
Railway Budget 2000-2001 highlights
- Kargil war widows to get 75 per cent travel concession in second class and sleeper class.
- Freedom fighters to get a millennium gift of one free return ticket to any destination by Rajdhani or Shatabdi Express.
- Girl students upto Class XII will get free tickets to school and
- No passenger fare increase of any class.
- A general freight increase of five per cent for
all non-essential commodities proposed.
- A Rs 10,000-millennium card proposed assuring reservation
in first AC and second AC on any train for an year.
- Only less than five per cent freight rate increase
for core sector commodities like coal, iron, cement and some
- Urea exempted from freight rate increase.
- Newspapers, magazines and medicines exempted
from freight increase.
- No change in Rajdhani and Shatabdi season tickets.
Trusting buoyancy in economy as well as additional marketing
efforts of railways, freight traffic target fixed slightly higher
at 475 million tonnes.
- Growth in passenger traffic - 5 per cent.
Other coaching and sundry other earnings to increase.
- Rs 1 billion additional earnings expected in parcel business.
Rs 5 billion by way of leasing of 'right of way' of optic fibre
- Rs 1.50 billion from commercial exploitation of land and
Rs 1 billion through commercial publicity.
- Target of Rs 5 billion clearance of outstanding dues of
powerhouses mainly BTPS.
- Gross traffic receipts estimated at Rs 359.29 billion.
- Ordinary working expenses estimated at Rs 281.15 billion --
increase of 9 per cent over revised estimates.
- Pensionary liability estimated at Rs 53.14 billion -- up by
Rs 12.20 billion from 1999-2000.
- Appropriation to DRF of Rs 24.41 billion.
- Total working expenses estimated at Rs 355.52 billion.
- Net traffic receipt at Rs 3.77 billion.
- Net miscellaneous receipt of Rs 8.15 billion including Rs 3
billion to be received from general revenues for railway safety works.
- Net railway revenue projected at Rs 11.92 billion.
- Dividend to general revenues estimated at Rs 21.15 billion.
- In view of shortfall in internal resources, Rs 15 billion
transferred to deferred dividend liability account and Rs 6.15 billion
proposed to be paid to general revenues.
- 'Excess' of receipts over expenditure works out to Rs 5.76
billion -- falls short of plan requirement of internal resources by
Rs 8.49 billion.
- Loan of Rs 2.49 billion from budgetary support of Rs 35.40 billion
taken for capital fund.
- Balance Rs 6 billion to be mobilised additionally through
revision of freight/parcel/luggage rates.
- No increase in the freight rates for essential commodities
like foodgrains, sugar, edible salt, edible oils, kerosene, LPG,
fruits and vegetables.
- By insulating these essential commodities, no additional
burden on common man.
- A general increase of 5 per cent in rates of all commodities
except those mentioned above.
- Keeping in view the need to encourage higher industrial growth,
increase in rates kept less than 5 per cent for core sector
commodiites of coal, iron and steel (division A/B/C), cement, iron
ore, limestone and dolomite and certain petroleum products.
- Classification upgraded for chemical manures; freight charges
for livestock and oilseeds to be raised appropriately so as to make
their haulage more viable -- average increase in rates in these
commodities would be more than normal increase of 5 per cent.
- Increase of 7 per cent in scale rates of parcel and luggage
including motor car rates.
- Proposals for adjustment in tariff for freight, parcel and
luggage estimated to generate Rs 6 billion per annum.
Changes in rates and classifications to be effective from
April 1, 2000.
- To commemorate 50th year of Indian Republic, all freedom fighters
to be given millennium gift for travel of one journey by Rajdhani or
Shatabdi train of choice from any station to any destination and
back to be valid for millennium year only.
- Millenium card at a cost of Rs 10,000, valid for one year, for
assured reservation in First AC and Second AC classes on any train,
to be introduced.
- Free travel facility available for students up to Class X now
extended to girl students only upto Class XII for travel from home
to school/college and back.
- Widows of martyrs of 'Operation Vijay' in 1999 in Kargil to be
entitled to 75 per cent travel concession in second class and
- No increase in passenger fares.
Run-up to the Budget 2000-2001
Buy Budget 2000