New Delhi, Feb 25 (PTI) The Rs 57,360-crore earmarkedin the annual plan for 2011-12 is the highest ever investmentmade in a single year for Railways, which runs one of thelargest networks in the world.
"The annual plan for the year 2011-12....is the highestever plan investment by the Railways in a single year",Mamata Banerjee said while presenting the Railway Budget forthe next financial year.
"The Plan is proposed to be financed through grossbudgetary support(GBS) of Rs 20,000 crore, diesel cess of Rs1041 crore, internal resources of Rs 14,219 crore and marketborrowings of Rs 20,594 crore through Indian Railway FinanceCorporation (IRFC)," the Railway minister said.
Banerjee said an additional amount of Rs 10,000 crorewould be raised next year through tax free bonds for financingselect capacity enhancement works.
The Minister said greater thrust this year would be onexpanding rail network with a larger allocation of Rs9,583 crore for new lines.
"It is planned to complete 1,000 km of new lines in2011-12. In addition, the left over new lines from last year''starget will also be completed. Apart from this, Rs 5406 croreand Rs 2,470 crore has been given for doubling and gaugeconversion projects to complete 867 km and 1017 km,respectively," Banerjee said.
She added that Rs 13,820 crore has been earmarked foracquisition of rolling stock of wagon, coaches and locomotivesto overcome their shortage.
The Minister also proposed to create a fund ''PradhanMantri Rail Vikas Yojana'' to implement socially-desirableprojects during the 12th Five Year Plan.
She said the Railways is already executing 19 projects inunderdeveloped areas of Orissa, Jharkhabnd, Chattissgarh,Bihar and Maharashtra.
"I propose to increase the allocation to theseprojects to Rs 771 crore," she said.
A non-lapsable fund for North-East has also been createdto give a boost to Railway projects in the region.
All the state capitals of this region, except Sikkim,will get connected by rail network in the next seven years,Banerjee said.