Budget 2017: Shares of IRCTC, IRFC and IRCON to be listed

In the first budget in Independent India wherein the Railway Budget and the Union Budget have been clubbed together, the Union Finance Minister Arun Jaitley has announced a  22 per cent rise in the Railway Budget, adding that the ministry propose to invest Rs.1.31 lakh crore in Railways in 2017-18.

Total capital development outlay for Railways will be Rs.1.31 lakh crore, of which the centre will fund Rs.55,000 crore, he said.

The shares of Railway Public Sector Enterprises (PSEs) like Indian Railway Catering and Tourism Corporation (IRCTC), Indian Railway Finance Corporation known  (IRFC) and IRCON India Ltd, will be listed on the stock exchanges.

Other major measures announced by the finance minister include withdrawal of service charges on e-tickets booked via IRCTC,  elimination of unmanned level crossing in railways by 2020, setting up of bio-toilets in all coaches by 2019, and commissioning of 3,500 km of railway tracks in 2018.

A Rail Suraksha Fund with a corpus of Rs.100,000 crore will be created over a period of five years, the FM added.

Re-development contracts for at least 25 stations will be awarded in 2017-18, says Jaitley, adding that as many as 500 rail stations will be made differently-abled friendly by providing lifts and escalators. Steps will be taken to launch dedicated trains for pilgrimage and tourism. A new metro rail policy will be announced, which will open up new jobs for the youth.

By 2019,  Railways will integrate end to end transport solutions for selected commodities through partnerships, said Jaitley.