Economy
Rail Budget Highlights
Suresh Prabhu in the Rail Budget proposed two elevated tracks from Churchgate and CST on Mumbai's suburban railway system
 
Here are the highlights of the Railway Budget for FY2016-17 presented by Railway Minister Suresh Prabhu on Thursday
 
* Making all-out efforts to translate dream of Prime Minister Narendra Modi into reality
 
* Aiming to achieve operation ratio of 92 percent
 
* Saving of Rs.8,720 crore from last year's estimates
 
* Envisaging capital expenditure of Rs.1.21 lakh crore
 
* 2,800 km of broad gauge track conversion envisaged (12:24) 
 
* Seven km of broad gauge lines to be commisssioned every day during 2016-17
 
* Hope to commission 19 km of new broad gauge track every day by 2018-19
 
* Rs.8.8 lakh crore to be spent on infrastructure in five years
 
* Rs.40,000 crore expected from the government as budgetary support
 
* Budget that reflects the expectations of the entire nation
 
* To increase lower berth quota for senior citizens by 50 percent
 
* Dedicated freight corridors envisaged for North-South, East-West and East Coast alignments
 
* Social media being increasingly used to ensure transparency
 
* Online booking of retiring rooms made possible
 
* 17,000 additional bio-toilets to be provided by the end of current fiscal
 
* Finalised bids for two new loco factories under Make in India initiative
 
* WiFi facilities at 100 more stations this year and 400 stations next year
 
* LIC to fund Rs.1.5 lakh crore over five years on favourable terms (13:00) 
 
* Two elevated tracks envisaged from Churchgate and CST on Mumbai's suburban railway system
 
* Specialised teams envisaged in specific areas to improve efficiency
 
* All-India 24X7 helpline for women
 
* Fully unreserved trains to be operated on high-density corridors
 
* Local art to be highlighted at railway stations
 
* Academic facility at Vadodara being upgraded to university level
 
* Railways to generate 9 crore mandays of employment in 2017-18 and 14 crore mandays in 2018-19
 
* IRCTC to begin marriage catering service in phased manner
 
* New R&D organisation to be established
 
* Rs50 crore to be provided for start-ups by railway employees
 
* E-catering to be extended to all stations
 
* Local cusine of choice to be made available to rail passengers
 

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Sanjay Dutt released after serving jail sentence
Pune (Maharashtra) : Bollywood actor Sanjay Dutt finally walked out a free man after serving his jail-term from the Yerwada Central Jail (YCJ) here on Thursday morning. He said there's no easy walk to freedom.
 
He was sentenced to undergo five years' rigorous imprisonment for illegal possession of arms during the March 1993 Mumbai serial blasts.
 
Arrested in 1993, Dutt had already served 18 months as an undertrial and then returned to jail in May 2013 to serve the remainder of his sentence.
 
He walked out of the blue-yellow painted YCJ gates carrying a huge bag of his personal belongings and a plastic bag of files and papers.
 
Near the main gate, sporting a dark blue shirt and jeans, Dutt put the bag down, turned around and saluted the Indian tricolor fluttering atop the jail building where he spent a momentous part of his life.
 
Earlier, he thanked the police and jail staff but they took care not ro get too close or helpful with the actor, and let him lug his own bulky bag as he walked to the barricades near his waiting car.
 
Present to receive him outside the YCJ were his wife Manyata aand their children, sister and ex-MP Priya Dutt and her family, filmmaker Rajkumar Hirani, his lawyers, thousands of fans and a huge media contingent from across India and abroad.
 
Shortly after he walked out of the YCJ, he drove to Pune Airport at Lohegaon to board a chartered plane to Mumbai.
 
There, he spoke to the media and credited his fans for their unending support.
 
He said: "I am here because of their (fans') support. And there is no easy road to freedom, my friends."
 
From the Mumbai Airport, Dutt will proceed straight to the famed Siddhhi Vinayak Temple in Dadar west to offer thankgiving prayers.
 
Then he will go to the Bada Kabrastan in south Mumbai and pray at the grave of his mother the late actress Nargis Dutt who died of cancer.
 
After this, Dutt will go to his Bandra home, for his permanent 'ghar wapasi', meet his family and friends and is expected to interact with media in the afternoon.
 
His sister Priya was asked if Sanjay is considering a move into politics?
 
She said: "I hope not... He is too simple a person... Politics has reached different levels. Hope he remains happy. He is looking forward to coming back to work. He was uncertain... (about his film career)."
 
The actor is yet to zero in on the new films that he will be working on.
 
Hirani, who has worked with Dutt in the "Munnabhai" series, said in a video: "We are happy that Sanju is coming back... He has served his term, and will come back and play his second innings. Indians are famous for scoring in their second innings. I am sure he is going to come and rock. I look forward to work on his biopic and also to start 'Munnabhai 3' very soon with him."
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Over Rs.5,000 crore garnered from NTPC stake sale
New Delhi : The government on Wednesday raised around Rs.5,030 crore from sale of 5 percent stake in India's largest power generator NTPC, although retail participation was lukewarm at a time of steep fall in the country's stock markets.
 
Disinvestment Secretary Neeraj K.Gupta told reporters here that the retail portion too would have been over-subscribed in the manner of the instituitonal response on Tuesday, had the broader markets been stable.
 
"Despite 700 points plunge, investor interest was alive with retail investors coming in at an effective price of Rs.116," Gupta said.
 
While the retail investors bid for only about 3.63 crore shares out of the 8.24 crore reserved for them, institutional investors had bid 1.8 times the offer size of 32.98 crore shares.
 
"Cut off price with respect to non retail category of NTPC has been fixed at Rs.122.05," the Bombay Stock Exchange said.
 
The stake sale began in splendid fashion on Tuesday with the institutional investors portion getting oversubscribed within two hours of the opening of trade.
 
The base price for the NTPC offer for sale (OFS) had been fixed at Rs.122 per share. The government, which currently holds 74.96 percent stake in the power utility.
 
SBI Cap Securities, ICICI Securities, Edelweiss Securities and Deutsche Equities are the bankers to the share sale.
 
The government has divested stake in five companies, raising a total of Rs.13,300 crore so far in this fiscal, while this sale will be the second biggest divestment after Indian Oil Corp, which garnered the exchequer around Rs.9,370 crore. It has a divestment target of Rs.69,500 crore for 2015-16.
 
NTPC stock closed on Wednesday at Rs.118.70 a share, down 4.20 percent over its previous close on the Bombay Stock Exchange (BSE).
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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