The railway budget for the year 201-2013 was introduced by the Railway Minister Dinesh Trivedi in the Parliament today.

Introducing the budget containing an annual outlay of Rs.60,100 Cr , the minister said the Railway ministry needs 14 lakh crore in next 10 years to implement various railway projects. He said presently 487 approved projects are in execution at various levels.

Disclosing that a proposal for constituting the Railway Research and Development Authority has been approved, Trivedi said a national policy for Railways is very much necessary.

The Minister said an organization in the name of the Indian Railways Stations Development Corporation will be constituted and it will be handed over the responsibility of redeveloping stations and maintaining them on pattern of airports.

The minister said the 12th plan will have a railway safety fund Rs. 16,842 Cr for maintaining and upgrading safety standards in the Railways.

He said the department will set up a Special Purpose Vehicle — Rail Road Grade Separation Corporation of India for abolishing level crossings in the entire country in a phased manner.

Four new rail coach factories are proposed to be set up in Kerala in the next financial year and the department proposes to take up modernization of 19,000 km of railway tracks covering 80 per cent of traffic.

The following are the other highlights of the railway budget:

1.14 new rail line survey to be taken up in 2012-13.
2.  Gauge conversion for 2012-13: 800 km
3.  Efforts will be made to increase train speeds to 160 kmph
4. Proposals to provide employment to 50,000 people through improvements to railway stations.
5. An investment of Rs. 5.60 lakh crore will be allotted for modernization.
6. 31 projects of over 5,000 km being implemented with the support of state governments across   
India
7. Rae Bareily coach factory ready for rolling
8. Up gradation of 929 stations is proposed.(J)