By IANS
New Delhi : Indian Railways proposes to raise Rs.819 billion in revenues in fiscal 2008-09 beginning April against the expected revenue of Rs.727.55 billion this financial year, Railway Minister Lalu Prasad said while presenting Railway Budget 2008-09 in the Lok Sabha Tuesday.
This amounts to a revenue growth of 12 percent.
The total targeted earnings will constitute 79 percent of the budget estimates proposed for the railways for 2008-09.
The gap of 21 percent will be met with a budgetary support of Rs.78.74 billion, of which Rs.7.74 billion will come from the central road fund.
Of the proposed Rs.819 billion, railways will mop up Rs.527 billion from freight, Rs.216.8 billion from passenger fares and the rest from other sources.
It expects to earn Rs.176 billion from second-class passengers.
The railways have also exceeded the target of raising Rs.712-billion revenue in the current financial year from fares, freights and other sources. It now expects the figure to reach Rs.726.55 billion.
The railways proposes to invest Rs.375 billion in fiscal 2008-09, which is 21 percent higher compared to the current financial year.