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Railways earned whopping ₹1,230 crore from cancelled waiting list tickets in last 3 years

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

According to the data, the railways earned an impressive ₹1,229 crores from cancelled waiting list tickets between 2021 and 2024. This data was shared by the Railway Ministry in response to an RTI application filed by activist Vivek Pandey from Madhya Pradesh.

The cancellation of tickets has emerged as a significant revenue stream for the railways, as evidenced by data obtained through a Right To Information (RTI) query. According to the data the railways earned an impressive ₹1,229 crores from cancelled waiting list tickets between 2021 and 2024. This data was shared by the Railway Ministry in response to an RTI application filed by activist Vivek Pandey from Madhya Pradesh, indicating a consistent rise in revenue generated through this avenue over the years.

According to the RTI reply, in 2021, a total of 2.53 crore tickets on the waiting list were cancelled and the earnings for the Railways shown is ₹242.68 crore. In 2022, a total of 4.6 crore tickers were cancelled and earnings rose to Rs 439 crore. Similarly, in 2023, the Railways earned ₹505 crore out of total 5.36 crore cancelled tickets and speaking of 2024, in January itself, the earnings were ₹43 crore out of 45.86 lakh cancelled tickets.

Total cancellations reported between November 5, 2023 to November 17, 2023 (i.e during Diwali week), the Railways saw 96.18 lakh ticket cancellations which included those cancelling their confirmed, reservation against cancellation (RAC) and waiting list tickets. As a result, Railways clocked earnings of ₹10.37 crore as ‘total cancellation earning’ from all tickets.

WHAT IS THE CANCELLATION CHARGE IMPOSED BY THE RAILWAYS?

If a confirmed ticket is cancelled more than 48 hrs before the scheduled departure of the train, flat cancellation charges shall be deducted:

₹240/- for AC First Class/Executive Class

₹200/- for AC 2 Tier/First Class

₹180 for AC 3 Tier/AC Chair car/ AC 3 Economy

₹120/- for Sleeper Class

₹60/- for Second Class.

If an RAC/waitlisted ticket is cancelled then ₹60 per passenger is deducted.

According to the Railways, Cancellation charges are per passenger and if a confirmed ticket is cancelled within 48 hrs and up to 12 hours before the scheduled departure of the train, cancellation charges shall be 25% of the fare subject to the minimum flat rate mentioned in the above clause.

Less than 12 hours and upto four hours before the scheduled departure of the train up to chart preparation which is earlier, 50% of the fare paid subject to the minimum cancellation charges.

SOURCE: RTI QUERY REPLY

YEAR NO. OF BOOKED WL TICKETS (at booking time) NO. OF CANCELLED WL TICKETS (at cancellation time) CANCELLED WL TICKETS EARNINGS TATKAL CANCELLED WL TICKETS EARNINGS
2021 103,050,590 25,372,349 2,426,896,300 320,219,279
2022 148,096,154 46,005,242 4,391,684,300 887,030,993
2023 153,079,444 52,657,824 5,050,166,538 1,042,667,455
2024 (JAN 24) 13,052,799 4,586,089 4,30,423,353 87,122,938

 

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index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

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Titagarh Rail Systems secures over ₹1,900 crore order from Indian Railways

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Umesh Chowdhary, Vice Chairman & MD, Titagarh Rail Systems expects the new order to have margins of around 11-12%, similar to other freight orders.

Kolkata-based company Titagarh Rail Systems has clinched an order worth ₹1,909 crore from Indian Railways for supplying 4,463 wagons, specially designed to transport bulk goods such as coal and ore.

The order is expected to be executed in two years.

Speaking to CNBC-TV18, Umesh Chowdhary, Vice Chairman & MD, Titagarh Rail Systems said, “This recent order is on the freight side, in which we have been maintaining about 11-12% EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin, and this order also would be no different.”

The company’s total order book is at ₹28,000 crore, of which, the freight order book is roughly around ₹7,000-8,000 crore.

Chowdhary said the company also has multiple tenders in the pipeline on the passenger rail segment, including two from Chennai and three for Mumbai metro.

Read Here | Titagarh Rail expects the defence vertical to be a key growth driver in 3-4 years

The company targets EBITDA margin of around 15% in the passenger segment, Chowdhary said, adding that. “From FY25, we will really start getting the revenue from the passenger segment, which will significantly ramp up in FY26 when Vande Bharat execution starts.”

The company aims to achieve a run rate of 1,000 wagons per month by the year 2025.

In October-December 2023, Titagarh Rail Systems revenues grew nearly 25%, on year to ₹955 crore, while profit after tax (PAT) grew 136% to ₹75.12 crore.

The company has a market capitalisation of ₹11,763.75 crore. The shares have gained 86% over the last year.

Also Read | Titagarh Rail Systems shares cross ₹1,000 for the first time, hit record high

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index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
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PM Modi lays foundation for redevelopment of 21 railway stations in Rajasthan

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Modi said that today’s India is going through a phase of change, the prime example of which is the Indian Railways. A decade ago, the average annual budget of the railways was ₹45,000 crore, which has now increased to more than ₹2.5 lakh crore.

Prime Minister Narendra Modi on Monday inaugurated and laid the foundation of several railway projects, including the redevelopment of 21 stations, in Rajasthan. According to an official statement, Modi laid the foundation stone for the redevelopment works of 21 railway stations in the state — Ajmer Junction, Pali Marwar, Sanganer, Beawar, Fatehnagar, Jawai Dam, Rani, Somesar, Gogamedi, Raisingh Nagar, Dausa, Fatehpur Shekhawati, Khairthal, Neem Ka Thana, Rajgarh, Deeg, Dholpur, Govindgarh, Khedli, Bundi, and Jhalawar City.

He also inaugurated and laid the foundation for 112 road overbridges and underpasses in the state. The prime minister inaugurated and laid the foundation of redevelopment work of 553 railway stations and 1,500 road overbridges and underpasses at a cost of about 41,000 crore across the country under the Amrit Bharat Station Scheme. On the occasion, programmes were organised at 2,021 places across the country in which more than 40 lakh people participated.

Modi said that today’s India is going through a phase of change, the prime example of which is the Indian Railways. A decade ago, the average annual budget of the railways was 45,000 crore, which has now increased to more than 2.5 lakh crore. He said that Amrit Bharat station is a symbol of the country’s heritage and development. Each station reflects a specialty of the local city. For example, the Rangpo station in Sikkim is influenced by local architecture, while the Sanganer station bears the imprint of sixteenth-century handblock printing.

On this occasion, Rajasthan Chief Minister Bhajanlal Sharma expressed his gratitude to the prime minister for his work. Sharma said that railways is playing an important role in realising the vision of a developed India under the able leadership of Prime Minister Modi. Along with modernisation, world-class facilities are being developed on the railways, which is providing relief to the common people. Sharma said that the Vande Bharat Express and Amrit Bharat Station are being discussed all over the world. The Indian Railways has achieved new heights through innovations in the construction of new railway lines, high-speed trains, cleanliness, and digitalisation.

He said that to make Sanganer a world-class railway station, redevelopment has been planned at a cost of 192 crore. Under this, the number of railway lines at Sanganer station will be increased from three to five. Besides, development works of a ticket, parcel office, retiring room, upgradation of main entry building, a 12-metre wide foot over bridge with lift, platform and shed, etc. are also proposed at the station. He said that all these facilities will increase the arrival of passengers at Sanganer station and will promote employment at the local level. He said that the connectivity of long route trains will also increase at the station, and passengers will be able to travel long distances with ease.

On this occasion, Union Railway, Communications and Electronics Minister Ashwini Vaishnaw said that more than 30,000 kilometers of railway lines have been constructed and doubled in the last decade.

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nifty 50 ₹16,986.00 -7.15
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nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

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Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
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PM Modi lays foundation stone for Sikkim’s first railway station at Rangpo

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Prime Minister Narendra Modi on Monday laid the foundation stone for Sikkim’s first railway station at Rangpo. The station will be a part of the under-construction 45-km rail line from Sevoke near Siliguri in West Bengal to Rangpo in Sikkim. It will have 14 tunnels and 22 bridges.

Prime Minister Narendra Modi on Monday laid the foundation stone for Sikkim’s first railway station at Rangpo. It was among the over 2,000 rail infrastructure projects worth about 41,000 crore unveiled by the prime minister.

The design of the Rangpo railway station will draw inspiration from the rich culture, heritage and architecture of Sikkim, the prime minister said in his address via video conference. Sikkim Governor Lakshman Prasad Acharya was present at Khanikola in Rangpo where a function was held.

“The foundation stone laying for the Rangpo railway station is a historic and proud moment for Sikkim, underscoring its significance in the context of ‘Viksit Bharat@2047’ and its potential to enhance the tourism sector by offering expedited and convenient travel options,” Acharya said. He also noted the advantages of the railways during the monsoon, when the NH-10 encounters disruptions.

The railways will be a blessing during such times, enhancing connectivity and reliability, he added. The station will be a part of the under-construction 45-km rail line from Sevoke near Siliguri in West Bengal to Rangpo in Sikkim. It will have 14 tunnels and 22 bridges.

The track on the Sevoke-Rangpo section of the Northeast Frontier Railway will have the capacity to handle 25 ton and trains can run at a maximum speed of 110 kmph. There will be three stations between Sevoke and Rangpo — Riyang, Teesta and Melli, all in West Bengal.

The project was awarded to IRCON International in May 2010 at a cost of 4,084.69 crore and the original deadline was May 2015. The revised date is now December 2024 with a revised cost of 12,474.07 crore, according to officials.

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nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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IRCTC partners with Swiggy for pre-ordered delivery of meals on trains: Check details here

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Swiggy will provide food delivery services at four railway stations — Bengaluru, Bhubaneswar, Vijayawada, and Visakhapatnam — in the first phase.

The Indian Railway Catering and Tourism Corporation (IRCTC) has partnered with the online food delivery platform Swiggy to deliver pre-ordered meals. On Thursday, IRCTC announced that the train passengers could now access the official e-catering portal of IRCTC to order food from different restaurants.

Sharing details about the website, app, and WhatsApp number to order food, IRCTC’s ECatering posted on X, “Ensure a delicious journey for yourself with over 2,000 restaurants available on IRCTC eCatering.”

In the first phase, Swiggy will provide food delivery services at four railway stations — including Bengaluru, Bhubaneswar, Vijayawada, and Visakhapatnam. The IRCTC mentioned in a stock exchange filing, “The IRCTC has tied up with Bundl Technologies Pvt. Ltd. (Swiggy Foods) for supply and delivery of pre-ordered meals through IRCTC e-catering portal as a PoC (proof of concept) in the first phase at four railway stations — Bengaluru, Bhubaneswar, Vijayawada and Visakhapatnam.”

Also read: IRCTC ties up with Zomato for delivery of pre-ordered meals, lines up Navratri treats

It added, “The eCatering service through Bundl Technologies Pvt. Ltd. (Swiggy Foods) may be available soon.”

The catering department of Indian Railways, IRCTC is tying up with such businesses to expand its services and provide better facilities to passengers travelling by train. However, this is not the first time IRCTC has partnered with any food delivery platform. Last year, in October, IRCTC announced a partnership with Zomato for ordering and supplying food at different railway stations.

Following the announcement in October 2023, IRCTC also mentioned that the services were available at certain stations such as New Delhi, Prayagraj, Kanpur, Lucknow, and Varanasi.

Meanwhile, the partnership with Swiggy is expected to boost the business of the food delivery platform as a large number of passengers travel by train. According to the IRCTC eCatering portal, one can now order by following three steps.

The passenger needs to choose an outlet by entering the PNR. Then the passenger can choose the food and schedule the order by paying online or choosing to pay Cash on Delivery.

The ordered food will be delivered to the passenger’s seat at the scheduled station. Apart from ordering individually, one can also order food for a group of 15 or more passengers. It will allow the order to have custom prices as well.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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nifty 50 ₹16,986.00 -72.15
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nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Banihal-Sangaldan section of Udhampur-Srinagar-Baramulla rail link to open soon; All you need to know

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The 48.1-kilometre section is a significant part of the Udhampur-Srinagar-Baramulla Rail Link Project.

The Indian Railways will soon inaugurate the train services on the Banihal-Khari-Sumber-Sangaldan section. The section, of about 48.1 kilometres, is a significant part of the Udhampur-Srinagar-Baramulla Rail Link Project and will be operational from February 20.

According to an Indian Railway official, “We will get a step closure to realise our dreams to connect Srinagar with Kanyakumari”. He added, “The Udhampur-Srinagar-Baramulla Rail Link (USBRL) project is one of the most ambitious Himalayan railway projects post-Independence.”

Sharing a glimpse of the MEMU train trial on the Khari- Sangaldan section, the Ministry of Railways wrote on its official X handle, “Step towards eco-friendly rail connectivity in J&K!”

 

Meanwhile, sources said Prime Minister Narendra Modi is likely to inaugurate the operation of the train through video conference. However, there is no confirmation of the same.

The Udhampur-Srinagar-Baramulla Rail Link (USBRL) project aims to connect the Kashmir Valley with the Jammu region and the wider national rail network. It covers a total distance of 272 kilometres of which 161 kilometres are already in operation. The Banihal-Khari-Sumber-Sangaldan segment has been completed at ₹15,863 crore, according to the Indian Railways.

The current train services, operating from Baramulla to Banihal, will be extended to Sangaldan, situated near Ramban’s district headquarters.

Talking about the project, a senior railway official said, “Spanning the challenging terrain of the Pir Panjal ranges, the USBRL project aims at establishing an all-weather, comfortable, and economically feasible transportation network, connecting the remote Himalayan areas with the rest of the country”, PTI reported.

The senior official associated with the project stated that it has 16 bridges, including 11 major, 4 minor, and a road overbridge. While over 90% of the total stretch is in tunnels, with a total of 11 covering 43.37 kilometres, it includes the country’s longest transportation tunnel, T-50, as well.

Given the conditions, there have been three escape tunnels for safety and rescue purposes. In addition to that, several advanced features such as canted turnouts, and CCTV monitoring units to enhance passengers’ safety and comfort have been incorporated.

 

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Success of Vande Bharat has led to 40,000 coaches being upgraded to Vande Bharat standards: Ashwini Vaishnaw

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Addressing the media during a press conference following the budget announcement, Railway Minister Ashwini Vaishnaw detailed the transformative impact of the Vande Bharat success on the broader railway network.

Finance Minister Nirmala Sitharaman, in her interim budget speech in Lok Sabha on Thursday unveiled an allocation of 2.55 lakh crore for the railways, setting the stage for an upgrade of approximately 40,000 coaches to Vande Bharat standards.

Addressing the media during a press conference following the budget announcement, Railway Minister Ashwini Vaishnaw detailed the transformative impact of the Vande Bharat success on the broader railway network.

Underlining the government’s focus on infrastructure development, Vaishnaw emphasised the achievements of the last decade. “The past ten years have been dedicated to creating capacity, adopting new technologies, and ensuring safety. We have added an impressive 26,000 kilometres of tracks during this period,” he stated.

The Finance Minister, in the morning’s budget speech, outlined the key priorities for the railways, with a focus on three corridors — Energy, Mineral and Cement corridor, Port Connectivity Corridor and a High Traffic Density Corridor.

According to Vaishnaw, the Minerals and Coal corridor is expected to reduce congestion on roads, providing a vital boost to the transportation of goods.

“Despite facing challenges, the railway sector has demonstrated remarkable resilience, achieving 82% of the allocated capital expenditure by the end of January 2024,” Vaishnaw added.

It is noteworthy that the budgetary rail allocation for the fiscal year 2024, announced by the Finance Minister in the morning, amounted to 2.4 lakh crore.

Also Read: Budget 2024: Here’s why railway stocks like IRFC, RVNL are trading lower post the FM’s speech

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Interim Budget 2024: Will Senior Citizen Railway Concession be restored ahead of elections

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

As Finance Minister Nirmala Sitharaman prepares to unveil the Interim Budget, speculation surrounds the potential revival of the Senior Citizen Railway Concession, suspended since March 2020 due to COVID-19. The hiatus resulted in a revenue loss of ₹2,242 crore, prompting calls for restoration despite concerns over the financial burden on the government.

As Finance Minister Nirmala Sitharaman prepares to present Budget 2024, anticipation surrounds the potential restoration of the Senior Citizen Railway Concession by the government before the upcoming general elections later this year.

What is the senior citizen railway concession?

The Senior Citizen Railway Concession previously granted concessions to senior citizens across all classes of Mail, Express, Duranto, Shatabdi, Jan Shatabdi, and Rajdhani trains, offering a 40% concession for men and a 50% concession for women with minimum age criteria of 60 and 58 years, respectively.

LIVE | Watch the Interim Budget 2024 non-stop live coverage on CNBC-TV18

Initially suspended on March 20, 2020, due to the COVID-19 pandemic, the concession has yet to be reinstated by the Union Railway Ministry. During the period of suspension, the railways generated a total revenue of ₹5,062 crore from eight crore senior citizens, with ₹2,242 crore attributed to the absence of concessions. Among the senior citizens, 4.6 crore were male, 3.3 crore were female, and around 18,000 were transgender.

Also Read: CNBC-TV18 Budget Ballot | Senior Citizens yearn for cheaper medical insurance, healthcare, lower taxes

The Covid-19 impact

Between 2020 and 2022, the Railways accumulated ₹3,464 crore from senior citizens, and it is estimated that an additional ₹1,500 crore would have been earned had the concessions been in place. The impact of the COVID-19 pandemic, leading to the suspension of train operations for most of 2020 and parts of 2021, also resulted in the temporary halt of concessions for senior citizens by the Railway Ministry.

Click here for live updates on the Interim Budget 2024

In December 2023, Railway Minister Ashwini Vaishnaw highlighted that the Railways provided a substantial subsidy of ₹59,837 crore on passenger tickets in 2019-20 to cater to all segments of society, amounting to an average concession of 53% for every railway traveller. Vaishnaw emphasized that this subsidy continues for all passengers, with additional concessions granted for various categories, including four categories of persons with disabilities (Divyangjans), 11 categories of patients, and eight categories of students.

While there have been persistent calls to reinstate senior citizen railway concessions, Vaishnaw, in 2022, informed Parliament that such reinstatement would impose a financial burden on the government.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Mumbai’s Sion overbridge to be shut from January 20; Check alternate routes you can take

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Sion overbridge is a crucial link to Dharavi, LBS Marg and Eastern Express Highway. It will be reconstructed by January 2026.

The Central Railway will start demolishing the Sion Road overbridge on Saturday. The British-era overbridge is a crucial link to Dharavi, LBS Marg, and the Eastern Express Highway. It will be reconstructed in the next two years to allow more space for the laying of the fifth and sixth lines between CSMT and Kurla stations, The Times of India reported.

The reconstruction work is expected to be completed by January 2026.

Swapnil Nila, Central Railway’s chief public relations officer, said that approval has been received from the Mumbai Traffic Police, adding that the demolition will start on Saturday (January 20).

By segregating Mail/Express and suburban train traffic, the fifth and sixth Central Railway lines will facilitate the operation of additional suburban services along the current fast corridors. They will be extended up to CSMT in two stages; at present, they are located between LTT in Kurla and Kalyan.

At Sion station, the lines are to be laid to the west of the current tracks, the TOI report stated.

The pillars of the bridge occupy the area of the proposed tracks. These pillars will be shifted to make room for the tracks.

While the Central Railway will undertake work on the portion above the tracks, the BMC might take up work on the approach stretches for rebuilding the overbridge.

Because of the demolition of the Sion overbridge by the Central Railway Authority, the Mumbai Traffic Police has made changes in the traffic arrangement that will remain in place from January 20 till May 1, temporarily.


Traffic diversion due to the closure of the Sion overbridge:

  1. Vehicular traffic from Dr. BA Road southbound, Sion Junction, will take a right turn from Sion Circle-Sion Hospital junction and shall proceed through Sulochana Shetty Road-Kumbharwada Junction to their desired destination to –
  2. A) Towards Kurla and Dharavi – Take a right turn from Kumbharwada Junction through KK Krishnan Menan Marg (90 ft.) road to Ashok Mill Naka and shall take a right turn to go through St. Rohidas Marg to Paliwan Naresh Mane Chauk and shall take a left turn to their desire location.
  3. B) Western Express and towards Bandra – From Kumbharwada Junction to Kemkar Chauk through KK Krishnan Menan Marg (90 ft.) road, shall take a right turn on Kemkar Chauk to go T-Junction through Sion-Mahim Link Road. Shall take a left turn on T-Junction towards Kalanagar Junction to their desired destination.
  4. C) Towards Mahim – 1. Shall take a left turn on Kumbharwada Junction to Matunga Labour Camp – T.H Kataria Marg and shall proceed through to their desired destination. 2. Kumbharwada Junction – KK Krishnan Menan Marg (90 ft.) road Kemkar Chauk shall take a left turn -SL Raheja Marg to their desired destination.
  5. Vehicular traffic from Dr B.A. Road Northbound, Sion junction shall take a left turn from Sion Hospital junction and shall proceed through Sulochana Shetty Road Kumbharwada Junction to their desired destination –
  6. A) Towards Kurla and Dharavi – Shall take a right turn on Kumbharwada Junction and shall proceed through KK Krishnan Menan Marg (90 ft.) road to Ashok Mill Naka and shall take a right turn and shall proceed through St. Rohidas Marg to Pailwan Naresh Mane Chauk, shall take a left turn to their desire destination.
  7. B) Western Express and towards Bandra – On Kumbharwada Junction shall proceed through St. Kabir Marg (60 ft) road to Kemkar Chauk and shall take a right turn proceed through Sion Mahim Link Road and shall take a left turn on T-Junction towards Kalanagar Junction to their desire destination.
  8. Vehicular traffic i.e. light vehicles (LMV) from Kurla through LBS Road and Saint Rohidas Road through Sion overbridge Eastbound shall take a right turn at Pehalwan Naresh Mane Chowk and shall proceed through Saint Rohidas Road – Ashok Mill Naka – left turn – KK Krishnan Menan Marg (90 ft.) Road – Kumbharwada Junction – left turn – Sulochana Shetty Road – Sion Hospital Bridge (Kumbharwada Bridge) towards their desired destination.
  9. Vehicular traffic i.e. heavy vehicles (HMV) from Kurla through LBS Road and Saint Rohidas Road through Sion overbridge Eastbound shall take a right turn just before Pehalwan Naresh Mane Chowk, Dharavi Kacharpatti Junction signal and shall proceed through Dharavi Depot Road-Sion Bandra Link Road – T junction – Mahim Sion Link Road – Left turn at Kemkar Chowk – St. Kabir Marg (60 ft) Road – Sulochany Shetty Road – Dharavi Railway Bridge Road towards their desired destination.
  10. Vehicular traffic from Western Express and Kalnar Junction proceed through Sion Bandra Link Road – Vehicular traffic shall take a right turn from Dharavi T Junction and shall take a left turn on Kemkar Chauk and shall proceed through St. Kabir Marg (60 ft) Road Kumbharwada Junction and shall proceed through Sion Hospital Bridge (Kumbharwada Bridge) to their desire destination.

 

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
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Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

Railways announces most preferred tourist circuits of 2023: Guess which are the top 5?

The Indian Railways announced the most-preferred tourist circuits of 2023 on January 17. While maximum circuits hold historical and religious importance, there is one circuit that boasts natural beauty. The circuivts are covered under the Railways’ Bharat Gaurav trains. A total of 172 ‘Bharat Gaurav’ train trips were operated in 2023, the railways said. (Image: News18)
During the 172 trips of ‘Bharat Gaurav’ trains, a total of 96,491 tourists explored various destinations across 24 states and Union territories, enjoying comprehensive tour packages that included off-board travel, excursions by buses, accommodation in hotels, guided tours, meals, travel insurance, and a comfortable train journey with onboard services, as highlighted in the statement. Let’s delve into what these five circuits offer. (Image: Indian Railways)
No 1. Shri Ram-Janaki Yatra |  This spiritually enriching circuit guides pilgrims through sacred sites associated with Lord Ram and Goddess Sita, fostering a profound connection with the epic Ramayana. Visiting revered places like Ayodhya, Panchavati, and Janakpur, pilgrims experience deep-rooted mythology and cultural significance. (Image: Reuters)
No 2. Shri Jagannath Yatra | A vibrant and colorful journey, this circuit encompasses the sacred pilgrimage to Puri, Odisha, where devotees witness the grand Rath Yatra of Lord Jagannath, Balabhadra, and Subhadra. Festivities and processions create an immersive cultural experience, attracting millions of devotees and tourists alike. (Image: Reuters)
No 3. ‘Garvi Gujarat’ Tour | Offering a diverse exploration of Gujarat’s rich heritage, this tour includes architectural marvels, historical sites, and vibrant cultural landscapes. From the magnificent Rann of Kutch to intricately carved temples of Somnath and the bustling city of Ahmedabad, tourists embark on a captivating journey through the pride and glory of Gujarat. (Image: BJP)
No 4. Ambedkar Circuit | Inviting tourists to retrace the footsteps of Dr. B.R. Ambedkar, the chief architect of the Indian Constitution, this circuit visits significant landmarks associated with his life and work. It educates visitors about the social reformer’s legacy, taking them to places like Mumbai, Nagpur, and Delhi.
No 5. North-East Tour | Unfolding the mesmerizing landscapes and cultural diversity of India’s northeastern states, this tour captivates travelers with lush greenery, picturesque hills, and vibrant indigenous traditions. Encompassing destinations like Assam, Meghalaya, and Arunachal Pradesh, it provides a unique blend of natural beauty and cultural richness, appealing to tourists seeking offbeat and immersive experiences.(Image: Shutterstock)