Mamata Banerjee proposes highest ever annual plan
The Annual Plan for the year 2011-12 of the Railways has been proposed at Rs.57,630 crore which is the highest ever plan investment by the Railways in a single year.
Announcing this in the Parliament on Friday, the Minister for Railways, Mamata Banerjee said the Plan is proposed to be financed through Gross Budgetary Support (GBS) of Rs.20,000 crore, diesel cess of Rs.1041 crore, internal resources of Rs.14,219 crore, market borrowings of Rs.20,594 crore.
The Minister said normally, IRFC raises between Rs.9000-10,000 crore annually for leasing of rolling stock. She said next year, an additional amount of Rs.10,000 crore will be raised through tax free bonds for financing select capacity enhancement works.
Mamata Banerjee said Railways will ensure servicing this debt of tax free bonds. Further, external source of financing through Public Private Partnership (PPP), Wagon Investment Scheme (WIS) etc. is expected to yield Rs.1,776 crore.
The Minister said improving upon 2010-11, a greater thrust is being given to the expansion of the rail network with a larger allocation of Rs.9,583 crore for new lines. It is planned to complete 1,000 km of new lines in 2011-12. In addition, the left over new lines from last year?s target will also be completed.
The Minister said apart from this, Rs.5,406 crore and Rs.2,470 crore has been given for doubling and gauge conversion projects to complete 867 km and 1,017 km respectively.
She said to overcome shortages in wagons, coaches and locomotives, Rs.13,820 crore has been earmarked for acquisition of rolling stock.
