The following are the highlights of the railway budget for 2012-13 presented in parliament Wednesday by Railway Minister Dinesh Trivedi:
* Investment of Rs.1.70 lakh crore on rolling stock in next five years.
* Attempt to increase train speeds to 160 kmph; journey time from New Delhi to Kolkata can be brought down to 14 hours from 17 hours.
* Improvements to railway stations can provide employment to 50,000 people.
* Outlay of Rs.60,100 crore during 2012-13, the highest ever.
* Railways will require Rs.14 lakh crore in the next 10 years for modernisation.
* Aim to bring down operating ratio from 90 percent to 84.9 percent in 2012-13 and to 72 percent by 2016-17.
* Time has come for formulating national policy for railways on the lines of that for defence and external affairs.
* Railways should grow at 10 percent annually for sustained GDP growth.
* Railways to invest Rs.7.35 lakh crore during 12th Five Year Plan period (2012-17), a quantum jump from the Rs.1.92 lakh crore invested in previous plan period.
* Railways must attract 10 percent of the Rs.20 lakh crore government expects to spend on infrastructure during 12th Plan.
* Railways expect gross budgetary support of Rs.2.5 lakh crore during 12th Plan.
* Collective challenge to formulate viable funding mechanism for modernisation.
* Railways should contribute 2 percent of GDP from the present 1 percent.
* Stress on strengthening safety. Has to be be benchmarked with the best in the world.
* Target of reducing accidents from 0.55 to 0.17 has been met.
* Special purpose vehicle to be set up on safety protocols.
* Independent railway safety authority to be set up as statutory safety body.
* Investment of Rs.5.60 lakh crore required for modernisation.(IANS)
