Loading...

Top
Help
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Default View
Expand ❯❯
Close ✕
🔎 News - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ----
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ----
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ----
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
    NBCC moves SC for RERA exemptions to complete 16 stalled Supertech projects
    DFS Hosts PSB Confluence 2026: Day 1 Deliberations focus on Four themes- Deposit Mobilisation, Banking for Youth, Supporting the Investment Cycle and ...
    Govt to soon announce high-level panel on 'Banking for Viksit Bharat': FM
    Rupee falls 19 paise to close at 95.61 against US dollar
    Govt to soon announce high-level panel on 'Banking for Viksit Bharat'
    Union Minister of Finance and Corporate Affairs interacts with interns from PM Internship Scheme in New Delhi
    DRI uncovers large-scale illegal use of SAFTA agreement in areca imports
    Rupee falls 17 paise to 95.59 against US dollar in early trade
    Colombian president asks Trump to suspend tariffs to help earthquake recovery
    Mission Samudra to be launched alongside Vizhinjam’s EXIM operations
    Europe emerges top destination for India's electric car shipments in Q1
    Govt sets LPG production targets for refiners; Reliance gets largest quota
    PM urges MSMEs to tap opportunities from FTAs
    PM urges farmers to adopt 'chemical-free farming' to tap rising global demand for such food items
    Govt rolls out foreign asset disclosure scheme for small taxpayers
    Need one or two Indian pharma firms to be among global top 5: PM Modi
    Small taxpayers with€™ foreign assets to face 30 pc tax plus penalty; disclosure scheme opens till Dec 31
    PM urges MSMEs to tap opportunities from FTAs
    Govt cuts windfall gains tax on petrol, diesel, ATF exports
    Modi warns of weaponisation of resources, sea routes; urges energy self-reliance
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

News
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
August 17, 2026
Show AI Summary
RERA compliance exemption for stalled housing projects raises whether statutory obligations may be waived to enable phased project completion.
RERA compliance exemption is sought for completion of 16 stalled residential projects by a public sector construction entity appointed under a project-completion arrangement. The appellate insolvency tribunal declined to direct a waiver, considering itself incompetent to exempt compliance with statutory provisions. The arrangement requires phased completion, award and commencement of construction work, and oversight through an apex committee and project-wise committees. The projects remain incomplete owing to the developer's financial crisis.
August 17, 2026
Show AI Summary
Deposit mobilisation and youth banking guide strategies for stronger public financial institutions, investment financing and Global Capability Centre opportunities.
PSB Confluence 2026 considers strategic priorities for Public Sector Banks and Public Financial Institutions across deposit mobilisation, banking for youth, investment-cycle financing and Global Capability Centres. Discussions seek practical, scalable strategies to strengthen customer engagement, youth-responsive banking propositions, institutional financing capabilities and participation in the expanding Global Capability Centre ecosystem. Youth engagement may use the MY Bharat platform to strengthen links with the formal financial system and awareness of education finance, entrepreneurship, internships and financial-sector careers. Further themes include value-chain infrastructure, priority sector lending and credit card business reform.
August 17, 2026
Show AI Summary
Banking-sector reform will guide lender capacity, financial stability, inclusion, consumer protection, deposit growth and responsible credit-card expansion.
Banking-sector reform is proposed through a high-level committee on Banking for Viksit Bharat to review the sector and align it with growth needs while safeguarding financial stability, financial inclusion and consumer protection. Key themes include deposit mobilisation, youth banking, investment support, global capability centres, value-chain infrastructure, credit cards and priority-sector lending. Public-sector banks are expected to improve competitiveness through technology, sectoral expertise, product adaptation and customer-focused deposit growth. Credit-card development must maintain responsible underwriting, customer protection and appropriate risk controls.
August 17, 2026
Show AI Summary
FCNR(B) concessional swap facility availability narrows to timely mobilised deposits amid rupee depreciation and foreign currency inflow concerns.
Foreign-exchange conditions reflected rupee depreciation amid weak domestic equity markets and higher crude oil prices. FCNR(B) concessional swap facility availability is confined to foreign currency deposits mobilised by banks within the revised cut-off period, replacing the previously longer mobilisation window. The facility is intended to encourage foreign currency inflows, while banks use the FCNR(B) scheme to mobilise foreign currency deposits through attractive interest rates.
August 17, 2026
Show AI Summary
Banking sector review panel will align future growth with financial stability, inclusion and consumer protection through government recommendations.
High Level Committee on Banking for Viksit Bharat is proposed to comprehensively review the banking sector and align it with India's next phase of growth. It is intended to safeguard financial stability, financial inclusion and consumer protection, while providing views and recommendations to the Government on banking-sector development and reform.
August 17, 2026
Show AI Summary
Prime Minister Internship Scheme enhances youth employability through paid industry exposure, cross-field learning, workplace readiness and potential full-time employment.
The Prime Minister Internship Scheme provides paid internships with leading companies across India to improve youth employability through practical workplace exposure, industry experience and skills development. It addresses the gap between classroom learning and employers' expectations of workplace readiness. Participation is not confined to academic qualifications, allowing youth to pursue fields of interest and gain hands-on professional learning. Strong internship performance may lead to full-time roles, while the scheme stresses responsible work where errors may affect quality, consumer safety and organisational reputation.
August 17, 2026
Show AI Summary
SAFTA origin fraud in areca imports allegedly enabled improper duty exemption through false Bangladeshi-origin declarations.
SAFTA preferential duty treatment for areca-nut imports was allegedly misused by falsely declaring goods originating in South-East Asian countries as Bangladeshi origin. Since areca nuts normally attract 100% basic customs duty, the scheme sought to obtain the full SAFTA exemption reserved for qualifying Bangladeshi goods meeting Rules of Origin requirements. The alleged mechanism included routing goods through Bangladesh, changing containers and bags, using improperly obtained Certificates of Origin, and facilitating clearance through importers, Customs Brokers and IEC holders. Investigative findings also indicated cash proceeds, hawala channels and dummy entities.
August 17, 2026
Show AI Summary
FCNR(B) concessional swap facility closure may reduce temporary foreign-currency inflow support and heighten rupee weakness concerns.
The Reserve Bank of India restricted its concessional swap facility for FCNR(B) deposits to deposits mobilised by August 31, advancing the earlier cut-off date. The facility was intended to encourage foreign-currency inflows, while banks mobilise such deposits through attractive interest rates. Market commentary indicated that existing inflows may support the rupee in the near term, but the curtailed availability of the facility could reduce this temporary cushion and increase depreciation risk.
August 16, 2026
Show AI Summary
Temporary tariff suspension for earthquake recovery is sought to ease pressure on affected Colombian businesses.
Temporary suspension of high tariffs on Colombian products has been sought to support business recovery following a severe earthquake declared a natural disaster. The request links tariff relief to economic disruption affecting businesses amid extensive destruction, injuries and missing persons. United States emergency assistance has been provided through food, shelter and health supplies, while no response to the tariff-suspension request had been reported.
August 16, 2026
Show AI Summary
Port-led industrial development and direct export operations aim to expand logistics infrastructure, market access and trade connectivity.
Mission Samudra is proposed as a port-led industrial and logistics development programme linked to the commencement of export-import operations at Vizhinjam seaport. It covers industrial clusters, new cities, port connectivity, logistics, development initiatives, programme management and capacity building. Direct export shipments are intended to improve overseas-market access and reduce transit time and logistics costs, particularly for small and medium enterprises. The framework also anticipates growth in warehousing, cold storage, container freight stations and logistics parks, supported by private participation and road and rail connectivity.
August 16, 2026
Show AI Summary
Electric vehicle export diversification strengthens India's presence across European, Asia-Pacific and Latin American markets through expanding overseas demand.
India's electric motor car exports expanded sharply in the first quarter of 2026-27, reflecting increased international acceptance and competitiveness of India-manufactured electric vehicles. Europe became the principal export destination, led by Spain and the United Kingdom, with further demand across several European markets. Exports also reached Asia-Pacific markets, Nepal and emerging Latin American destinations. This wider market presence reflects improving quality and safety standards, stronger integration into global electric-vehicle supply chains, and diversification of India's electric-vehicle export profile.
August 16, 2026
Show AI Summary
LPG production preparedness requires refiners and upstream producers to maintain capacity and increase output during supply constraints.
Government has established a standing LPG production preparedness framework under which refining companies, oil marketing companies and upstream producers may be directed to increase production during supply constraints. Companies must maintain adequate LPG storage, evacuation and transportation infrastructure and pursue technically and economically feasible production-enhancing measures. Written directions may prescribe production quantities and periods, including restrictions on alternative uses of input streams required for LPG. The production schedule is updated twice yearly to reflect new facilities and added capacity from infrastructure, technology and distribution improvements.
August 16, 2026
Show AI Summary
Free trade agreement market access requires MSMEs, farmers and exporters to meet global quality standards.
Free trade agreements expand market-access opportunities for Indian MSMEs, exporters and producers through reduced or eliminated import duties on traded goods. Textiles, machinery, medicines, seafood and agricultural products can access international markets where they meet global standards and remain competitively priced. Farmers and producers are encouraged to develop export-oriented products, including chemical-free agricultural produce, while MSMEs may use preferential trade access to support manufacturing, exports, employment and growth.
August 15, 2026
Show AI Summary
Chemical-free farming can strengthen agricultural exports by meeting global standards and responding to rising international demand.
Chemical-free farming is urged to meet growing global demand and expand agricultural exports. Agricultural products must meet global parameters to facilitate access to international markets, including markets opened through free trade agreements. Food processing, export-oriented farm production, and global branding of traditional cuisine, millets, spices, fruits and flowers are identified as important elements of agriculture and food production policy.
August 15, 2026
Show AI Summary
Voluntary foreign asset disclosure allows eligible taxpayers to regularise overseas holdings with immunity from further tax, penalties and prosecution.
FAST-DS permits eligible taxpayers to disclose specified undisclosed foreign assets, foreign income, and foreign assets omitted from return schedules. Undisclosed assets or income not previously offered to tax may be declared up to Rs 1 crore on payment of an effective 60 per cent levy, based on fair market value as of 31 March 2026. Assets already offered to tax, or acquired during non-resident status but omitted from the return schedule, may be declared up to Rs 5 crore on payment of a fee. Valid declarations provide immunity from further tax, penalty and prosecution, while declared amounts are excluded from total income.
August 15, 2026
Show AI Summary
Global pharmaceutical leadership is urged through Indian firms achieving top-five status, supported by generic manufacturing and export capacity.
Indian pharmaceutical companies are urged to attain representation among the world's five leading pharmaceutical firms, despite India's established position as a major producer of generic medicines. India has a broad manufacturing base, supplies generic medicines across numerous therapeutic categories, and exports to worldwide markets including highly regulated jurisdictions. Although pharmaceutical exports and the domestic market have expanded, Indian firms have not yet secured positions among the largest global companies. Greater international scale may be supported through acquisitions and expanded established-brand and branded-generic operations.
August 15, 2026
Show AI Summary
Foreign asset voluntary disclosure permits eligible small taxpayers to regularise qualifying assets through tax, additional levy, and statutory immunity.
FAST-DS permits eligible small taxpayers to voluntarily disclose specified foreign assets or foreign income. It covers undisclosed foreign assets or income not offered to tax, subject to an aggregate value threshold of Rs 1 crore, and certain foreign assets omitted from the relevant return schedule, subject to a Rs 5 crore threshold and prescribed fee. Payment comprises 30 per cent tax and an additional equal amount. Disclosed income or investment is excluded from total income, with immunity from further tax, penalty and prosecution under the Black Money Act for the disclosed asset or income.
August 15, 2026
Show AI Summary
Free trade agreement opportunities require MSMEs to meet global standards and expand exports across textiles, machinery, medicines and seafood.
Free trade agreements are presented as export-market opportunities for Indian MSMEs because they reduce or eliminate import duties on a substantial range of traded goods. MSMEs are urged to expand exports of textiles, machinery, medicines and seafood, including shrimp, by meeting global quality standards and offering products competitively. Their export role is linked to self-reliance and their significant contribution to manufacturing, exports, GDP and employment.
August 15, 2026
Show AI Summary
Windfall gains tax on petroleum exports was reduced to support domestic fuel availability and limit export price advantages.
Special additional excise duty (windfall gains tax) on exports of petrol, diesel and aviation turbine fuel was reduced from 15 August 2026. Petrol export duty was reduced to nil, and export-duty rates on diesel and ATF were lowered. Duty rates for petrol and diesel cleared for domestic consumption remained unchanged. The export-duty framework seeks to maintain domestic petroleum-product availability and limit export advantages arising from higher global crude oil prices amid West Asia tensions.
August 15, 2026
Show AI Summary
Energy self-reliance drives diversified fuel sourcing, expanded offshore exploration, and domestic capacity to reduce geopolitical supply vulnerability.
Energy security policy seeks to reduce exposure to geopolitical pressure and supply disruption caused by dependence on overseas fuel and strategic maritime routes. India is diversifying crude oil and LNG sourcing while strengthening domestic hydrocarbon production through offshore exploration, seismic surveys, exploratory drilling and shared infrastructure. Expanded access to sedimentary basins is intended to unlock domestic oil and gas resources. Wider piped natural gas coverage, solar generation, critical-mineral exploration, and nuclear and other non-fossil energy sources support the broader objective of energy self-reliance.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Back

All News

Showing Results for : Reset Filters

No Hike in Passenger Fare

February 25, 2016

Contents
Summary
Note

Note

-

Bookmark

Print

Print

65,000 Additional Berths and 17,000 Bio Toilets to be Installed

Operations Audit to Improve Punctuality of trains Proposed

Wi Fi Facilities in 400 more Stations

Stations to be Developed Under PPP Mode

Award of Civil Contracts for Dedicated Freight Corridor to be  Over by the end of this Financial Year

Capacity of E-Ticketing System to be Enhanced

Increased Quota of Lower Berth for Senior Citizens and Women

820 Robs / Rubs constructed

 Operating  Ratio to Increase from 90% to 92% Proposed

Nargol- Hazira Port Connectivity to be taken up under PPP Mode

There is no hike in passenger fare in this year’s Railway Budget.  Presenting the Railway Budget 2016-17  in the Parliament today Railway Minister Shri Suresh  Prabhakar Prabhu said   the budget seeks to fulfil the  long-felt desires of the common man such as   reserved accommodation on trains available on demand, time tabled freight trains, high end technology to improve safety record, elimination of all unmanned level crossings, improved punctuality, higher average speed of freight trains, semi high speed trains running along the golden quadrilateral, zero direct discharge of human waste by the year 2020. He said  Cabinet approval has been received for re-development of stations under PPP mode.

Shri Suresh Prabhu said the Indian Railways budget  proposes to   overcome challenges by Reorganizing Restructuring and  Rejuvenating Indian Railways  with the Slogan “Chalo, Milkar Kuch Naya Karen”.  The strategy  for this will have  three pillars  i.e. Nav Arjan – New revenues, Nav Manak – New norms, and Nav Sanrachna – New Structures.

In order to make travel on Indian Railways more comfortable, the Indian Railways proposes to give more facilities to the passengers . 65,000 additional berths will be provided in the trains and 2500 water vending machines  will be installed .  The railways have developed world’s first Bio-Vaccum toilet and 17,000 Bio-toilets will be provided in the trains.  With the purpose of improving  punctuality of trains  operations audit  from Ghaziabad to Mughalsarai section will be introduced.   The Indian Railways  proposes  to introduce  1,780 Automatic Ticket Vending Machines all over the country with  mobile apps and  GoIndia smartcard for cashless purchase of UTS and PRS tickets. The  capacity of  e-ticketing system will be enhanced  from 2,000 tickets per minute to 7,200 tickets per minute to support 1,20,000 concurrent users as against  40,000 earlier.  400 more stations will be provided  with Wi Fi facilities.

As a part of social initiatives, online booking of wheelchairs and Braille enabled new coaches will be introduced for the Divyang. Increased quota of lower berths for senior citizens and women and reserving  middle bays for women in reserved  coaches has been proposed.   Passengers security will be enhanced through more helplines and CCTVs.

To reduce accidents at level crossings, the budget proposes to eliminate 1000 unmanned level crossings and closures of 350 manned level crossings.  820 Rail Over Bridges (ROB)/ Rail Under Bridges (RUB) will be completed during the current financial year and work is going on in additional 1350 of them. 

Referring to the progress of  Dedicated Freight Corridor Project the Railway Minister said that almost all contracts for civil engineering works will be awarded by the end of this financial year.  He said ₹ 24,000 crore worth contracts  were awarded since November 2014 as against ₹ 13,000 crore contracts awarded during the last six years.   Shri Prabhu said Railways proposes to take up  North-South, East-West and East Coast freight corridors through innovative financing including PPP.

Underlining the importance of Jammu and Kashmir and North East the Minister said work on Katra-Banihal section of Udhampur-Srinagar-Baramulla Rail Link Project  is progressing satisfactorily and 35 kms of tunnelling out of total of 95  kms has been completed.  He said decongestion work on Jalandhar - Jammu section is in full swing and doubling of two bridges will be over  by next month, while the other two bridges will be completed by 2016-17.  In North East ,  Mizoram and Manipur will  shortly come on BG map of the country with commissioning of the Kathakal-Bhairabi and Arunachal-Jiribam Gauge conversion projects.

Giving the progress card of port connectivity projects the Minister informed that  Tuna Port  connectivity project has been commissioned and rail connectivity projects to ports of Jaigarh, Dighi, Rewas and Paradip are  under implementation.  He said implementation of rail connectivity for the ports of Nargol and Hazira  will be taken up under PPP in 2016-17.

Referring to the financial performance the Minister said during  2015-16  a saving of ₹ 8720 crore could be achieved  neutralizing the most of the revenue  shortfall with operating ratio of 90%.  He said the budget proposes operating ratio of 92%,  restricting  growth of ordinary working expenses by 11.6% after building in immediate impact of 7th PC, reduction in  diesel and electricity consumption and Revenue generation  of ₹ 1,84,820 crore for 2016-17.  He said during 2015-16 investment would be close to double of average of  previous five years.

Shri Suresh  Prabhu said  Railways would be able to achieve annualized  savings of  ₹ 3000 crore in the energy sector during the next financial year itself, a year earlier than announced.  He said this could be achieved by procuring  power directly at competitive rates.

The Railway Minister said social media will be used  as a tool to bring in transparency. All procurement including procurement of works  will be moved  to e-platform.  He said  the trial of awarding tender electronically  was successful and it will be rolled out  on Pan India basis  in 2016-17.

Giving an outline of the way ahead, the Minister informed Parliament that his  Ministry proposes to take various measures to improve quality of travel which will include introduction of unreserved superfast Antyodaya Express Trains, introduction of Tezas train with the speed of 130 Km. and above  with onboard entertainment and Wi Fi  etc., unreserved Deen Dayalu coaches  with portable water and higher number of mobile charging points and introduction of AC and non AC double decker trains on busy routes with the potential to  increase carrying capacity by almost 40%.  Sale of tickets through hand held terminals; e- ticketing facility to foreign debit/credit cards; bar coded tickets,   expansion of Vikalp – train on demand to provide choice of accommodation in specific trains to wait-listed passengers. E-booking of tickets facility on the concessional passes available to journalists;      facility of cancellation through the 139 helpline post verification using ‘One Time Password’ sent on registered phone number,  CCTV cameras on tatkal windows  and periodic audit of PRS website will also be introduced.

Shri Suresh Prabhu said it is proposed to convert all operational halts into commercial halts for the benefit of common man.  The Minister said  Sarathi Seva in Konkan Railway will be expanding  to help the old and disabled passenger. The existing services for enabling passengers to book battery operated cars, porter services, etc. on a paid basis in addition to the existing pick up and drop, and wheel chair services will be strengthened. All stations under redevelopment  will be accessible for Divyang. There will be at least one Divyang friendly toilet at each platform in A1 class stations during the next financial year and  availability of wheelchairs in sufficient numbers at these stations will be ensured.  Children’s menu items, baby foods, hot milk and hot water would be made available under Janani Sewa.

SMART (Specially Modified Aesthetic Refreshing Travel) Coaches  will be introduced to ensure higher carrying capacity and provision of new amenities including automatic doors, bar-code readers, bio-vacuum toilets, water-level indicators, accessible dustbins, ergonomic seating, improved aesthetics, vending machines, entertainment screens, LED lit boards for advertising, PA system.   It is also proposed to  integrate all facilities into two mobile apps dealing with ticketing issues and for receipt and redressal of complaints and suggestions.  With a view to improve customer interface   information boards in trains enumerating the on-board services and  GPS based digital displays will be installed  inside coaches to provide real time information regarding upcoming halts. Work  is underway  for the  installation of a high-tech centralized network of 20,000 screens across 2000 stations for enabling real time flow of information to passengers and also to unlock huge advertising potential. All A1 class stations will be manned with duly empowered Station Directors supported by cross functional teams, to make one person accountable for all facilities on trains.

Shri Suresh Prabhu said it is proposed  to take up on priority the provision of passenger amenities and beautification on stations at pilgrimage centres including Ajmer, Amritsar, Bihar Sharif, Chengannur, Dwarka, Gaya, Haridwar, Mathura, Nagapattinam, Nanded, Nasik, Pali, Parasnath, Puri, Tirupati, Vailankanni, Varanasi and Vasco. Aastha circuit trains will be introduced  to connect important pilgrim centres.

 He said  optional travel insurance for rail journeys at the time of booking  and clean my coach through sms will also be introduced in due course.  High speed passenger corridor from Ahmedabad to Mumbai  will be developed  with the financial assistance from Government of Japan.  FM Radio Stations will be invited to provide train borne entertainment,  Rail Bandhu Mazagine  will be provided in all reserved coaches in all regional languages.

Referring to the financial performance of 2015-16  the Railway Minister said Stringent economy and austerity measures adopted to contain the Ordinary Working Expenses (O.W.E.) due to which budgeted OWE  of ₹ 1,19,410 crore decreased in the Revised Estimates 2015-16 to ₹ 1,10,690 crore i.e. by ₹ 8,720 crore. BE provided for an appropriation of ₹ 34,900 crore to the Pension Fund. However, based on trend, the pension outgo moderately decreased to ₹ 34,500 crore in RE. Internal resource generation diminished and appropriation to DRF moderated to ₹ 5,500 crore in RE from the BE 2015-16 provisioning of ₹ 7,900 crore.  Excess of receipts over expenditure in RE 2015-16 stands at ₹ 11,402.40 crore. Plan size for 2015-16 is currently estimated at 1,00,000 crore i.e. the BE level.

Regarding Budget Estimates 2016-17 the Minister informed that the Gross Traffic Receipts are  kept at ₹ 1,84,820 crore . Passenger earnings growth has been pegged at 12.4 % and earnings target budgeted at ₹ 51,012 crore. The freight traffic is pegged at incremental traffic of 50 million tonnes, anticipating a healthier growth in the core sector of economy. Goods earnings is accordingly proposed at ₹ 1, 17,933 crore. Other coaching and sundries projected at ₹ 6,185 crore and ₹ 9,590.3 crore respectively. OWE provides for the implementation of the 7th CPC.Pension outgo budgeted at ₹ 45,500 crore in 2016-17.  Higher staff cost and pension liability impacts the internal resource position of the Railways. Accordingly, appropriation to DRF from revenue placed at ₹ 3,200 crore and that from Production Units at ₹ 200 crore. A withdrawal of ₹ 3,160 crore from DRF on net basis proposed though the gross expenditure to be met from DRF in the Annual Plan estimated at ₹ 7,160 crore. ₹ 5,750 crore proposed to be appropriated to the Capital fund. With a draw-down of ₹ 1,250 crore from previous balances in the fund, plan requirement of ₹ 7,000 crore for repayment of principal component of lease charges to IRFC have been met.  Railways are preparing a Plan size of ₹ 1,21,000 crore in 2016-17, the Minister added.

Topics

Acts Income Tax