Money > Budget > Budget News & Analysis JANUARY 15, 2002 I 13:45 IST rediff.com
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Railways wants higher budgetary support

Railway Minister Nitish Kumar on Tuesday sought higher budgetary support and requested the finance minister not to impose service tax on the railways as he had done in the case of other services.

Briefing reporters after his pre-budget meeting with Finance Minister Yashwant Sinha, the railway minister said the additional budgetary support was required for early completion of pending railway projects.

This would not only benefit the public but also improve the financial health of the railways and generate additional resources because many of the projects are in their 'last-mile' completion stage.

Replying to a question, Kumar said: "The railways are sure to make profit during the current fiscal though we may not be able to achieve the 500 million tonne freight carrying target for 2001-02 because of the general ongoing recession."

He, however, said the railways are sure to carry 485 million tonne freight traffic which would be more than the goods transported during 2000-01.

Kumar said Railways are working on a 5-year developmental time frame and needs additional funds for its successful execution by removing operational and financial bottlenecks.

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