Rail Budget 2012

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  Suresh Prabhu's Rail Budget Gets Thumbs up from India Inc

  Corporate leaders termed the Rail Budget as "innovative"

• Rail passengers to pay more in AC1, AC2 classes from Sunday

  Passengers travelling in AC1 and AC2 classes in trains will have to shell out more from Sunday when the upward revision in higher class fares will come into effect.

• Range-bound Nifty trade seen on rollback worries

  Traders expect the Nifty to be range bound between 5,170 and 5,340 for the next few sessions

• No service tax on Metro, taxi, second-class rail travel

  Access to amusement facilities, travel by radio taxis and auto rickshaws will also be exempt.

• Railway stocks extend losses on profit-booking

  Stocks of companies in the railways business continued to decline and fell by up to 6 per cent

• Mamata wins, Dinesh Trivedi to resign, rollback fare hike: Sources

  Mamata Banerjee has proved that in its current state, the Congress cannot refuse any demand she presents. The Prime Minster will agree, say sources, that her own party colleague, Dinesh Trivedi, will be fired as Railways Minister. Sources also say Mr Trivedi is expected to resign shortly.

• Mamata wins, Dinesh Trivedi resigns, rollback of fare hike soon: Sources

  Mamata Banerjee has proved that in its current state, the Congress cannot refuse any demand she presents. The Prime Minster will agree, say sources, that her own party colleague, Dinesh Trivedi, will be fired as Railways Minister. Sources also say Mr Trivedi has sent in his resignation to the PM. Ms Banerjee is punishing Mr Trivedi for announcing a...

• Railway Budget 2012 highlights

  Here are the Major highlights of the Rail Budget.

• Railways to miss revenue target of Rs 1.06 lakh crore this fiscal

  As per official data, Railways is projected to see gross traffic receipts to the tune of Rs 1.04 lakh crore for the year ending March 31 compared to budget estimate of Rs 1.06 lakh crore.

• Rail Budget: AC travel between metros to get costlier by at least Rs 140

  Fares between Delhi and Mumbai trains will increase by a minimum Rs 140 by AC 3-tier.

• Mamata Banerjee has her way, PM to sack Dinesh Trivedi: Sources

  The senior-most leaders of the Congress were forced into an emergency meet at the Prime Minister's house late tonight to discuss Mamata Banerjee's request to sack her party colleague, Dinesh Trivedi, as Railways Minister. Sources say the PM will accept Ms Banerjee's request; and her nominee Mukul Roy will replace Mr Trivedi in the Union cabinet.

• Full transcript: Dinesh Trivedi speaks to NDTV

  The railway minister today proposed the first hike in passenger fares in nine years and the highest ever annual plan outlay for the railways at Rs 60,100 crore, of which Rs 15,000 crore he said, would be from market borrowing.

• Full text of Dinesh Trivedi speech on Railway Budget 2012

  Dinesh Trivedi, presenting his first rail budget, had his task cut out. His focus, he said, was three-pronged: "Safety, safety, safety." Following very closely behind were consolidation, decongestion and modernisation.

• Trivedi justifies fare hike; says it's in interest of railways

  "No comments," he said when asked whether he would quit as Railway Minister as his party, Trinamool Congress, was demanding a rollback of the fare hike.

• Rail Budget 2012: Government bucks populist trend to raise fares

  The refusal by successive ministers to raise fares has strained the railway's finances, which in turn has sapped the amount of money available to lay new track and modernise services.