Union Budget 2017-18: Outlay for Railways raised at Rs 1,31,000 Crore; Rail-linked Stocks mixed

NEW DELHI: Shares of Railway­ linked stocks turned mixed in Wednesday’s trade after Finance Minister Arun Jaitley proposed 8.3 per cent higher budgetary allocation for the sector at Rs 1,31,000 crore, which included a Budget support of Rs 55,000 crore.

In Budget 2016­-17, allocation to Railways was increased to Rs 1.21 lakh crore, which included Rs 45,000 crore as gross budgetary support and safety fund.

Shares of Titagarh Wagons fell 2.80 per cent to Rs 112.80 on BSE.

Kalindi Rail Nirman fell 1.54 per cent to Rs 112.20.

Stone India shot up 6.78 per cent to Rs 74 .

Kernex Microsystems advanced 1.13 per cent to Rs 40.35 on BSE.

The Finance Minister said that Rail Sanraksha Fund will be created with corpus of Rs 1 lakh crore for rail safety.

BEML rose 1.74 per cent to Rs 1,224.50.

SCHNEIDER ELECTRIC was down 0.38 per cent at Rs 142.60.

The Budget targeted 3,500 km rail lines in FY18 against 2,800 km in FY17.

The Budget targeted Bio toilets in all coaches by 2019.

The FM said that 500 railway stations will get lifts and escalators.

The service charge on booking of railway tickets through IRCTC to be withdrawn, the FM said.

This was the first time in 92 years that the Rail Budget was merged with the Union Budget and was announced on the Budget Day, breaking from the colonial tradition of presenting it two days ahead of the Union Budget.

The FM said that while the Rail Budget is merged, the autonomy of the Railways will stay intact.

The Railway Budget for FY17 had largely focused on a large capital expenditure plan.

A major chunk of the incremental budgetary spend was made towards the dedicated freight corridor (DFC), construction of new lines, doubling of lines and towards increasing rolling stock, including wagons, coaches and engines.