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Railways set to achieve loading target of 475 mn tonnes

Railways are set to achieve loading target of 475 million tonnes during the current year 2000-2001, Railway Minister Mamata Banerjee said in her budget presentation in the Parliament on Monday.

Freight earnings at Rs234.86 billion are, however, likely to fall short of target by Rs1.22 billion due to drop in lead and change in commodity-mix.

Passenger earnings continue to be buoyant and are likely to exceed the Budget Estimates of Rs 101.48 billion by Rs3.02 billion.

The position of traffic outstanding including dues from State Electricity Boards/Power Houses continues to be unsatisfactory, having risen to Rs30.27 billion to end December 2000. Instead of clearance of Rs 5 billion, accretion of Rs500 million is likely.

Gross traffic receipts has been scaled down from Rs 365.29 billion in Budget Estimates to Rs 334.67 billion in Revised Estimates.

Despite increased expenditure on account of hike in fuel price and restoration work due to several natural calamities, a saving of Rs 3 billion is likely to be achieved, the minister said.

Ordinary working expenses in Revised Estimates have been placed at Rs278.15 billion and pensionary liabilities at Rs 51.67 billion against Budget estimates of Rs 53.14 billion.

Internal resource generation has been reduced and accordingly plan expenditure has been reassessed at Rs100.02 billion against budget outlay of Rs110 billion.

Reviewing the financial performance during 1999-2000, Banerjee said it was an extremely difficult year for railways despite an all-time record of incremental loading of 35 million tonnes.

Passenger earnings recorded a growth of 12 per cent.

However, railways had to suffer an additional burden of Rs 9 billion on account of increased fuel bill due to hike in diesel price and electricity tariff, and other post-budgetary increases.

Gross earnings increased from Rs 330.21 billion in Revised Estimates to Rs 331.25 billion in actuals.

Working expenses came down from Rs 309.09 billion in Revised Estimates to Rs 308.44 billion in the actuals. Pensionary liabilities touched Rs 40.22 billion and the year ended with drawdown of Rs 1.07 billion from Fund balances.

In view of shortfall in internal resources, plan expenditure was restricted to Rs 90.57 billion from the Budgeted level of Rs 97 billion.

Market borrowings have been restricted to Rs 29.19 billion compared to Rs 30 billion in revised estimates.

PTI

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