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
    NEWS HIGHLIGHTS
    India's forex kitty swells by USD 10.5 bn to USD 692.87 bn
    Rs 5,000 cr credited to 6.22 lakh Maharashtra farmers so far under loan waiver scheme: Fadnavis
    SBI Life and J&K Bank partner to bring comprehensive life insurance solutions closer to families across India
    DRI intensifies vigil along India's North-Eastern Frontier
    Vijayan slams Kerala govt's move to end doorstep pension delivery through cooperative banks
    Kerala to stop welfare pension delivery through cooperative banks, shifts to DBT
    China's exports slow slightly in July despite robust demand for high-tech products
    India successfully concludes the Tenth BRICS Industry Ministers' Meeting in Jaipur under its BRICS Chairship 2026
    APEDA Organises BIOFACH INDIA 2026 to Promote India's Certified Organic Products and Expand Global Market Access
    RBI bars banks from disabling mobile devices of defaulting borrowers
    Par panel for early conclusion of India-US trade pact, tariff exemptions on key goods
    No commitments relating to ethanol import from US for fuel blending under FTA talks: Govt
    No concession or commitment on import of Ethanol for fuel blending from the United States
    Office of the Controller General of Patents, Designs and Trade Marks Announces Tentative Schedule for Patent and Trade Marks Agent Examinations 2027 a...
    RBI invites comments on the draft “Reserve Bank of India (Non-Banking Financial Companies – Credit Facilities) Amendment Directions, 2026”
    West Bengal seeks 100pc foodgrain, 40pc sugar jute packaging quota at SAC meeting
    RBI clasifies Tata Sons, 16 others as large NBFCs
    Sensex climbs 374 points on buying in Reliance, ICICI Bank; Nifty ends flat
    Insurance Division, DFS Secures 3rd Rank in Group A Category of Grievance Redressal Assessment & Index (GRAI) for June 2026
❯❯
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 7, 2026
Show AI Summary
Criminal justice, extremist-material regulation and administrative schemes feature in reports on prosecutions, demolition practices, loan waivers and fuel policy.
Criminal justice reports cover bail and an expedited trial in an assault prosecution, arrest for allegedly sheltering an accused, allegations of rape and murder of a minor, and claimed irregularities in a police recruitment examination. Regulatory developments include a ban on extremist literature associated with proscribed organisations and judicial disapproval of coercive demolition. Administrative coverage includes farmer loan-waiver transfers following Aadhaar authentication and debate over the E20 fuel-blending programme.
August 7, 2026
Show AI Summary
Foreign exchange reserves rose as foreign currency assets, gold holdings, Special Drawing Rights and IMF reserve position increased.
India's foreign exchange reserves increased during the week ended July 31, principally because of higher foreign currency assets and gold reserves. Foreign currency assets include US dollar valuation effects arising from movements in currencies such as the euro, pound and yen. Special Drawing Rights and India's reserve position with the International Monetary Fund also increased. The movement followed measures to attract foreign exchange inflows, including an FCNR(B) measure, after earlier reserve declines associated with rupee pressure and dollar sales for foreign exchange market intervention.
August 7, 2026
Show AI Summary
Farm loan waiver eligibility depends on verified beneficiary status and Aadhaar authentication for direct credit of eligible crop-loan relief.
The farm loan waiver scheme covers eligible short-term crop loans within the prescribed ceiling and eligibility period. Waiver amounts are credited to verified bank accounts after field verification and completion of Aadhaar authentication. Aadhaar authentication is the operative condition for automatic processing of benefits, while eligibility rules and technical conditions have raised concerns about exclusion of distressed farmers.
August 7, 2026
Show AI Summary
Corporate agency distribution expands access to life insurance products, supporting insurance awareness, financial inclusion and long-term household financial protection.
A corporate agency arrangement enables J&K Bank to distribute SBI Life Insurance protection, savings, retirement and child-oriented life insurance plans through its branch network. The partnership aims to improve insurance access, awareness, financial literacy and long-term financial planning for households, particularly in Jammu & Kashmir and Ladakh. It is intended to expand insurance penetration, strengthen household financial protection and support financial inclusion in line with the IRDAI vision of "Insurance for All by 2047".
August 7, 2026
Show AI Summary
Cross-border smuggling controls target narcotics, poppy seeds and areca nuts entering through the Indo-Myanmar border region.
Cross-border smuggling enforcement targeted methamphetamine, foreign-origin poppy seeds and areca nuts allegedly brought from Myanmar. Methamphetamine concealed in an ambulance was seized under the NDPS Act, 1985. Poppy seeds and areca nuts recovered in separate operations were seized under the Customs Act, 1962. Poppy-seed imports are restricted to designated countries and require registration to ensure traceability and prevent illicit produce entering legitimate supply chains. The enforcement action addresses circumvention of customs controls and regulated import requirements.
August 7, 2026
Show AI Summary
Direct benefit transfer for welfare pensions replaces cooperative-bank doorstep delivery, while retaining limited home service for excluded beneficiaries.
Direct Benefit Transfer for social security and welfare pensions is to be made through Aadhaar-linked bank accounts, replacing cooperative-bank doorstep delivery. Home delivery remains available for bedridden persons and others who cannot be excluded. The change is associated with delays in remitting undistributed amounts, record-update failures, reconciliation issues, duplicate payments, and incomplete Aadhaar-based payment implementation. Concerns have been raised that mandatory bank-account credit may disadvantage beneficiaries dependent on doorstep delivery.
August 7, 2026
Show AI Summary
Direct Benefit Transfer for welfare pensions replaces doorstep cooperative-bank delivery, while home delivery remains for bedridden beneficiaries.
Direct Benefit Transfer of social security and welfare pensions is to be made mandatory through Aadhaar-linked bank accounts, replacing cooperative-bank doorstep distribution. Home delivery continues for completely bedridden beneficiaries and others who cannot be excluded. The change addresses delays in remitting undistributed amounts, record-update and reconciliation deficiencies, duplicate payments linked to incomplete Aadhaar-based payments, delivery incentive costs, and the need to comply with Direct Benefit Transfer norms to avoid loss of central financial assistance.
August 7, 2026
Show AI Summary
Customs trade data show moderating July growth while high-technology exports, vehicles and advanced manufacturing supplies remain strongly supported.
Customs and trade data showed that China's July export and import growth moderated and its trade surplus narrowed from the preceding month. Typhoon-related port disruptions affected trade flows, but demand for electronics and green technology products supported elevated values. High-technology items, vehicles, electronics and machinery recorded strong January-July export growth, while trade performance varied among the United States, the European Union and Southeast Asia.
August 7, 2026
Show AI Summary
BRICS industrial cooperation advances MSME, photovoltaic, startup and logistics frameworks alongside resilient trade and digital services collaboration.
BRICS industrial cooperation under PartNIR was strengthened through a Joint Declaration and institutional measures addressing MSMEs, photovoltaics, startup-led innovation, and resilient transport and logistics. The measures include an SME cooperation framework, Terms of Reference and an Action Plan for photovoltaic industry cooperation, and a startup innovation action plan. Trade discussions focused on the multilateral trading system, MSME participation in international trade, resilient global value chains, and cross-border digitally delivered services within a rules-based trading framework.
August 7, 2026
Show AI Summary
Certified organic export promotion: BIOFACH INDIA facilitates buyer-seller engagement, certification awareness, traceability discussions and international market access.
BIOFACH INDIA 2026 promotes certified organic exports by providing a platform for Indian organic enterprises to showcase diverse certified products and engage with overseas buyers through structured Buyer-Seller Meets. Technical sessions address organic certification, traceability, sustainability, quality standards, international regulatory requirements and export-market expectations. The initiative supports quality assurance, international market access, export linkages and sustainable agricultural practices across the organic value chain.
August 6, 2026
Show AI Summary
Device-based loan recovery restrictions protect essential mobile functions while permitting gradual locking only for lender-financed devices.
Technology-based recovery mechanisms cannot restrict or disable a borrower's mobile device unless the bank financed acquisition of that device. Where permitted, banks must adopt a gradual approach and preserve essential functions, including incoming calls, SMS access, and emergency SOS features. Regulated entities and service providers must obtain manufacturer or operating-system certification for device-locking technology. Disclosure of borrower or guarantor information to recovery personnel must be limited to what is necessary for loan-recovery duties.
August 6, 2026
Show AI Summary
Bilateral trade agreement negotiations should secure tariff certainty, protect key exports, strengthen supply chains, and support vulnerable small industries.
An early Bilateral Trade Agreement is proposed to protect Indian interests, secure tariff exemptions for key exports, reduce barriers affecting industrial products, and create predictable trade conditions. Recommended measures include financial and export-credit support for small industries, real-time monitoring of customs requirements, documentation assistance, and timely policy support against tariff and non-tariff barriers. Export strategy should develop knowledge services and critical supply-chain integration, while a National Fund should assist suppliers with redesign, tooling, certification and entry into new global supply chains.
August 6, 2026
Show AI Summary
Ethanol imports for fuel blending remain excluded from trade commitments, with domestic producers continuing to supply the blending programme.
Ethanol imports for fuel blending remain outside concessions or commitments in India-US trade discussions. Under the Ethanol Blended with Petrol Programme, ethanol procurement is governed solely by domestic policy requirements and is sourced entirely from domestic producers. Claims of existing or intended large-scale ethanol imports from the United States for fuel blending, or of a policy change permitting them, are stated to be baseless.
August 6, 2026
Show AI Summary
Domestic ethanol sourcing for fuel blending continues unchanged, with no import commitments or concessions involving United States ethanol.
Ethanol used for fuel blending under the Ethanol Blended with Petrol Programme is sourced entirely from domestic producers, with no imports from the United States for that purpose. No concessions or commitments on importing United States ethanol for fuel blending have been made in trade discussions. Fuel blending and ethanol procurement continue to be governed solely by domestic policy requirements, and claims of a policy change allowing large-scale imports are incorrect.
August 6, 2026
Show AI Summary
Patent and trade marks agent qualification examinations require written-paper minimums, aggregate passing scores, and viva voce assessment for registration.
Patent and trade marks agent examinations comprise an objective Paper I, a descriptive Paper II and a viva voce assessing suitability to practise before the Intellectual Property Office. Candidates must secure the stipulated minimum marks in each written paper and the required aggregate score to pass. Registration in the relevant Register of Patent Agents or Register of Trade Marks Agents is available only to candidates who satisfy all prescribed eligibility conditions and qualify the examination.
August 6, 2026
Show AI Summary
Draft NBFC credit-facilities amendments open for stakeholder consultation through designated online and email feedback channels.
Draft amendments to the Non-Banking Financial Companies credit-facilities framework have been released for public consultation. Regulated entities and other interested stakeholders may submit comments or feedback through the 'Connect 2 Regulate' platform or by email using the specified subject line.
August 6, 2026
Show AI Summary
Mandatory jute packaging reservations were urged to protect cultivators, mill workers, crop absorption, and environmentally sustainable packaging.
Mandatory jute packaging reservations were sought to be retained at full coverage for foodgrains and increased for sugar packaging for the forthcoming Jute Year. The submission before the Standing Advisory Committee emphasised absorption of bumper jute output, remunerative prices for cultivators, uninterrupted mill operations, and protection of farm and worker livelihoods. It also stressed that biodegradable jute bags offer an environmentally friendly alternative to HDPE and polypropylene woven sacks, and that dilution of compulsory packaging could undermine plastic-pollution reduction efforts.
August 6, 2026
Show AI Summary
NBFC Upper Layer classification imposes enhanced regulation and listing obligations, while de-registration applications remain under examination.
NBFC Upper Layer classification subjects identified large non-banking financial companies to enhanced regulatory requirements for at least five years and requires stock-exchange listing within three years of identification. The framework divides NBFCs into Base, Middle, Upper and Top Layers. Seventeen large NBFCs were included in the Upper Layer list, while Tata Sons' classification remains subject to the pending examination of its de-registration application.
August 6, 2026
Show AI Summary
Closing auction price discovery may affect benchmark levels differently based on constituent liquidity and concentrated institutional order flow.
The Closing Auction Session in the equity cash segment uses an auction-based method to determine closing prices of eligible shares with futures and options contracts, aiming to strengthen transparent and robust price discovery. Its effect on benchmark closing levels may differ according to constituent liquidity and institutional order flow. The Reserve Bank of India retained the policy repo rate and neutral stance, indicating that future policy decisions will be data-dependent and influenced by assessment of energy-cost effects on inflation.
August 6, 2026
Show AI Summary
Public grievance redressal strengthens through monitoring, senior review, workshops, stakeholder coordination, and customer-centric service delivery improvements.
Public grievance redressal is assessed through the Grievance Redressal Assessment and Index, which analyses grievance categories and disposal. The Department of Financial Services' Insurance and Banking Divisions received third and sixth ranks respectively in the June 2026 assessment. Its framework includes disposal of grievances, random reviews by senior officials, and workshops on effective grievance redressal, supporting best practices, stakeholder coordination, technology use, customer-centric service, and accountable public service delivery.

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