Railway Minister Lalu Prasad Yadav presented the Railway Budget for 2005-06 in Parliament on Saturday. Following are the highlights of the Budget:No hike in rail passenger faresFreight rates remain unchangedPlan to modernise and expand rail servicesRail freight up 7.67%Railways regain share of freight marketFreight growth higher than economic growth8% growth in passenger fare incomeFreight target: 600 mn tonneEarning target: Rs 30,450 croreTo carry 43 mn ton more freight in FY06Revenues steady in FY06Private participation to be encouragedDouble 538 Kms of rail lines in FY06FY06 gauge conversion target 935 Kms46 new trains announced.27 trains get extension10 trains of higher frequencyParcel rates kept unchangedFreight for kerosene to be cut by 3.7%, LPG to be cut by 2.7%.Plan to work on 150 kmph train between New Delhi & Howrah, Chennai Passenger traffic expected to rise 4%Good tariff to be made simple, rational and transparentPrivate participation to be encouragedTicket- booking on Internet: Timings to be increased to 4.00 am to 11.30 pm from 8.00 am to 10. pm currently.Railways to commercially develop rail land near major stations.Surplus of Rs 6963 croreIRFC to borrow Rs 3,400 cr in FY06Private participation to be encouragedFY06 gauge conversion target 935 Kms Double 538 Kms of rail lines in FY06Spot booking of vacant berths to be allowedRs 3645 cr of Safety Fund to be spent this year Rs 6504 cr from Railway Safety Fund spent last yearNew trains: Daily Chennai-Egmore-Secunderabad ExpressLalu proposes double-decker containersWill allow private container companies to operateRural children: 75% discount on second class fareGross traffic receipts to rise from Rs 44902 cr to Rs 46785 cr538 km of rail lines to be doubled in FY06Farmers, milkmen to be given 50% discount on second class rail fareGross traffic receipts for FY06 seen at Rs 50,970 crRailways double collection of arrears in FY05The Railway Budget 2005-06: Complete Coverage