Mar 11, 2015

Estimated pay scales to be announced by 7th Pay Commission

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Highest Ever Funding of Rs. 1.5 Lakh Crore for Railways – MoU Signed with LIC

A Big Step Forward to make Indian Economy more Robust: Suresh Prabhu 

Just within fifteen days of presenting the Railway Budget 2015-16, the Minister of Railways Shri Suresh Prabhakar Prabhu fulfilled yet another commitment of his Budget announcement by achieving the highest ever funding of Rs. 1.5 lakh crore for Railways. In this historic landmark achievement, a Memorandum of Understanding (MoU) was signed between the Ministry of Railways and Life Insurance Corporation (LIC) in the presence of the Minister of Finance Shri Arun Jaitley and the Minister of Railways Shri Suresh Prabhakar Prabhu at a function here today. The signatories of MoU were Smt. Rajalakshmi Ravikumar, Financial Commissioner, Ministry of Railways and Shri S.K.Roy, Chairman, LIC. 

Speaking on the occasion, the Railway Minister said that this is the first such step in its endeavour to make Indian Railways prosperous in the future. He said that with such encouraging initiatives, the Ministry of Railways will be able to augment its resources for speedier execution of projects. Shri Suresh Prabhu said that the resultant enhanced throughput of traffic is likely to further increase the capacity to carry more to meet with a growing transportation demand leading to a robust economy. He thanked the officials of the Finance Ministry, LIC and the Railway Ministry for working together as a team to make this deal a big success. 

Under this MoU, LIC will make available to the Ministry of Railways/its entities a Financial Assistance with a limit of 1,50,000 crore over the next five years for implementing Railway projects. The Financial Assistance will be available from the Financial Year 2015-16. In his Budget Speech, Shri Suresh Prabhu had announced his intention of meeting a part of the total Plan Budget of Rs 1,00,011 crore for the financial year 2015-16, through extra budgetary resources, such as market borrowings by tapping low cost long term funds. The challenge has been successfully met in a substantial measure by the signing of this MoU for mobilising resources. 

There would be a five-year moratorium on interest and loan repayment and the rest of the terms would be negotiated while signing the finance assistance agreement. 

The Minister of State for Finance, Shri Jayant Sinha, the Minister of Railways, Shri Manoj Sinha were also present on the occasion. Also present on the occasion, among others, were Shri A.K.Mital, Chairman, Railway Board, Shri Hasmukh Adhia, Secretary (FS), Railway Board Members and senior officials from Ministry of Finance, Ministry of Railways and LIC. 

Earlier, just a few days after the presentation of Railway Budget 2015-16, the Minister of Railways Shri Suresh Prabhakar Prabhu fulfilled commitment of his budget announcement by launching a ‘Customer Complaint Web Portal and Mobile Application’. This ‘Customer Complaint-cum-Suggestion’ portal and mobile App which can be freely downloaded, is very useful as one can track the status of the complaints which he or she registered on this portal with the help of mobile App. Soon after his taking over as the Minister of Railway,, Shri Suresh Prabhu started the process of welcoming suggestions from the people to further improve the passenger services and valuable suggestions on this newly launched portal can be incorporated in all possible ways, if found suitable. 


Indian Railways’ Freight Loading up by 4.51 per cent during April 2014-February 2015

Indian Railways carried 996.00 million tonnes of revenue earning freight traffic during 1st April 2014 to 28th February 2015. The freight carried shows an increase of 42.95 million tonnes over the freight traffic of 953.05 million tonnes actually carried during the corresponding period last year, registering an increase of 4.51 per cent. 

During the month of February 2015, the revenue earning freight traffic carried by Indian Railways was 89.64 million tonnes. There is an increase of 2.71 million tonnes over the actual freight traffic of 86.93 million tonnes carried by the Indian Railways during the same period last year, showing an increase of 3.12 per cent.

source -pib

Inter-se seniority list for the purpose for Group B selection to the post of APO against 70% quota vacancies for the assesment year 2013-2015.

Eligibility list for the selection of post of Jr.Clerk cum typist GP 1900,PB 5200-20200 under 33 1/3% promotional quota.

Acceptance of Voluntary Retirement of staff under Liberalised Active Retirement Scheme for Guaranteed Employment for Safety Staff (LARSGESS) for the period July to December 2014

Acceptance of Voluntary Retirement of staff under Liberalised Active Retirement Scheme for Guaranteed Employment for Safety Staff (LARSGESS) for the period July to December 2014

Central Railway proposes terminus at defunct Thakurli power plant land

In one of the biggest moves in Mumbai's railway landscape in recent times, Central Railway has prepared a proposal for the railway board to build an outstation train terminus at the land which once used to house the Thakurli power plant.

In one of the biggest moves in Mumbai's railway landscape in recent times, Central Railway has prepared a proposal for the railway board to build an outstation train terminus at the land which once used to house the Thakurli power plant. The proposal is part of railway minister Suresh Prabhu's railway budget speech on February 26 about 'satellite railway terminals'. Central Railway general manager S K Sood in reply to a message from dna said the matter was 'under consideration'.

Speaking in Parliament Prabhu had said, "Most of the railway terminals located in big cities are amidst very congested areas. We propose to develop satellite railway terminals in major cities with the twin purpose of decongesting the city as well as providing service to passengers residing in suburbs. The satellite terminals will have modern facilities for originating and terminating trains, which will also briefly stop at the existing major terminals. Ten select stations will be taken up in 2015-16 for this purpose."

According to officials in the know, the stretch of land at Thakurli will be in the region of around 80 acres – almost three and half times the size of Oval Maidan – and would be ideal for a terminus. "Preliminary studies of the suitability of the Thakurli power plant land for a terminus are encouraging and with the pace of development in the stretches beyond Thane, the need for a terminus somewhere beyond Thane will arise sooner than later. If all goes well it could one of the ten spots that the railway minister spoke about in his budget speech," said a senior CR official.

LIC to invest Rs 1,50,000 cr in Indian Railways over 5 years

State-run insurance major LIC today committed Rs 1.5 lakh crore to the Indian Railways for development of various commercially viable projects in one of the largest railway networks in the world.

The investment would be made over a period of five years.

"LIC has taken the task of supporting Indian Railways... It is a commercial decision... LIC will invest Rs 1.5 lakh crore over a period of five years," Finance Minister Arun Jaitley said here.

The investment would be done in bonds issued by various railway entities such Indian Railways Finance Corporation (IRFC), beginning next fiscal.

On an average, LIC will be subscribing bonds worth Rs 30,000 crore over next five years, its Chairman S K Roy told PTI after the signing of MoU between Indian Railways and LIC.

When asked about that what kind of interest rate LIC would earn from this investment, Roy said, "The rate is yet to be finalised. Since it is would be a commercial decision, it would be win-win situation for both.
Source - business-standard

Anakapalle MP seeks laying of new railway lines

Anakapalle MP Muttamsetti Srinivasa Rao sought the laying of separate railway lines between Tuni and Kothavalasa junction via Narsipatnam, Madugula and Devarapalle to provide rail connectivity to the remote villages of Anakapalle constituency.

Discussion on  rail budget

In the discussion on the railway budget in the Lok Sabha on Tuesday, Mr. Srinivasa Rao while supporting the Railway Budget 2015, noted that Andhra Pradesh was disappointed over the railway budget as the Railway Minister has neither sanctioned any new project nor has allocated funds to complete the pending projects.

“I was expecting an announcement on separate zone and clubbing of Waltair Division in it. But, this had not happened,” he said .

Several works including the Vijayawada-Nidadavole-

Jaggayyapet-Vishnupuram and Kakinada-Pithapuram lines have not found a mention in the Railway Minister’s speech though the State Government had agreed to bear 50 per cent of the cost.

Mr. Srinivasa Rao, however, welcomed the announcement on making the A-1 grade Visakhapatnam Railway Station WiFi-enabled and the development of satellite railway stations at Anakapalle, Duvvada, Simhachalam and Pendurthy.

Policy change

The policy change on ‘private sidings’ would help development of Visakhapatnam city as a logistics hub with speedier evacuation from the sea port.

New zone

He sought among other things: stoppage of all super fast trains at Anakapalle, stoppage of Mumbai LTT Express at Duvvada, provision of passenger amenities at Anakapalle, Elamanchili, Narsipatnam Road and Duvvada Railway Stations.

Mr. Srinivasa Rao appealed to the Railway Minister to expedite the process of creation of the new zone as it was promised in the AP Reorganisation Act.

welcomed the announcement on making the A-1 grade Visakhapatnam Railway Station WiFi-enabled
Source - the hindu

5 new ticket vending machines at Nashik Road railway station

NASHIK: The railway administration has decided to install five more automated ticket vending machines (ATVM) at the Nashik Road station citing the rush of passengers wanting to book tickets for the forthcoming Kumbh Mela and for those travelling from Nashik. 

"Five vending machines have to be installed. Two machines will be installed near the current booking windows, while another one will be near the scanning machine. The other two are likely to be intsalled near the goods shed as of now to facilitate the Kumbh rush," a senior official from the railway station said. 





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