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Ecowrap from the Economic Research Department of SBI

Feb 26th, 2016 6:38 am | By | Category: LATEST NEWS

Ecowrap from the Economic Research Department of State Bank of India. The article is been authored by Dr. Soumya Kanti Ghosh Chief Economic Advisor, SBI.

Brief highlights of the report:
For a commuter in Mumbai who daily travels around 50-100 kms, this Budget is a great satisfaction. If you ask him how you perceive this Budget it might be difficult for him to tell it now but one year down the line he will tell that his journey has become more comfortable and cozy. This is what an ordinary citizen perceives in this budget. In essence, the Railway Budget 2016-17 with three-pronged objective of Reorganize, Restructure and Rejuvenate puts customer satisfaction in the driver’s seat.

All in all, the expectation on this year’s Railway Budget was not a gung-ho one given the current economic environment in which it is being presented. While, India still continues to be one of the well rail networked country, India’s socio-economic strata or lifeline runs on railways. Balancing socio-economic needs among available resources has always been a challenge. To that extent the Minister had very little headroom given the economic conditions the country is operating in. While no new announcement of trains was made, focus on completing the existing ones remains the key thrust.

The Railway fares, both for passengers and freight segment, have been left untouched for the next fiscal, as of now and the focus is now on exploiting new sources of revenue so that every asset, tangible or non-tangible, gets optimally monetized as quoted in the budget document.

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