Railways will end the next fiscal with a surplus of Rs 600 crore (Rs 6 billion) on the strength of a 11 per cent increase in revenue despite no hike in freight and fares, and a substantial rise in working expenses and outgo for pension.
The Railway Budget targets to generate an excess Rs 600 crore (Rs 6 billion) during 2003-04 compared to Rs 550 crore (Rs 5.5 billion) this fiscal.
The budget estimates 6.4 per cent rise in gross receipts from traffic at Rs 43,495 crore (Rs 434.95 billion) during 2003-04. The Railways had targetted higher receipts at Rs 41,538 crore (Rs 415.38 billion) in the last budget but revised its estimate to Rs 40,867 crore (Rs 408.67 billion) for this fiscal.
However, Railways would witness over 9.0 per cent rise in pension outgo and another 7.0 per cent rise in working expenses next fiscal.
While appropriation to Pension Fund would go up to Rs 6,385 crore (Rs 63.85 billion) next fiscal from Rs 5,840 crore in this fiscal, ordinary working expenses are targetted at Rs 32,460 crore (Rs 324.6 billion) during the next fiscal compared to Rs 30,310 crore (Rs 303.1 billion) in 2002-03.
The total working expenses is slated to go up to Rs 40,850 crore (Rs 408.5 billion) in 2003-04 from Rs 38,153 crore (Rs 381.53 billion) in this fiscal.
Railways was able to restrict its expenses slightly this fiscal from the Rs 39,128 crore (Rs 391.28 billion) budgeted last year.
PTI
More from rediff