Asia Bizz: Indian Railway Minister Dinesh Trivedi presented his first budget in the Parliament on March 14, 2012 and it the proposal was the highest ever which included an annual plan outlay for the railways at Rs 60,100 crore. Trivedi said that he would keep in mind the needs of the common man as well as the country while presenting the budget.

Before leaving Rail Bhavan towards the Parliament, Trivedi told the reporters that the budget is going to be very good for the country and also the common man. The minister added that has made sure that the Indian Railways is like solid gold.

Trivedi also explained that the Railways is one of the most important infrastructure and added that the country’s GDP cannot grow without the growth of the railways. After the Question Hour, the Railways minister will be presenting his maiden Rail budget in the Lok Sabha.

During the presentation of the budget, the minister was expected to announce a few new trains including a few for the Northeast region. People who are looking forward to the Rail Budget are the commuters in Mumbai and they are expecting elevated train services on the suburban line, longer trains in the suburban line, improvements in the stations, air-conditioned trains and more trains out of Mumbai. Apart from the facilities, it is also expected that the tickets fares might also increase.

The points included in the Rail Budget 2012-13 include:

Indian Rail Safety Authority should be set up as a statuary regulatory body.

Investments of Rs 7.35 lakh crore under 12th Five Year Plan

Contribution of Rs 1.99 lakh crore through internal resources by the Railways.

75 new express trains and 21 new passenger trains.

Rs 5 lakh crore needed under PM’s Rail Vikas Scheme.

Indian Railways must get a minimum of 10% of government’s infrastructure spending.

Plans to work on more projects in Kashmir and the North East.

Setting up of Rail Khel Ratna Award to be given to 10 sports persons each year

Stay tuned for more Rail Budget 2012 -13 updates