CENTRAL BUDGET AND RAILWAY BUDGET 2012-13 HIGHLIGHTS

Full Highlights of UNION BUDGET 2012-13, Complete Information on Budget 2012-2013

• Budget identifies five objectives relating to growth recovery, private investment, supply bottlenecks, malnutrition and governance matters

• GDP growth to be 7.6 per cent (+ 0.25 percent) during 2012-13

• Amendment to the FRBM Act proposed as part of Finance Bill. New concepts of “Effective Revenue Deficit” and “Medium Term Expenditure Framework” introduced

• Central subsidies to be kept under 2 per cent of GDP; to be further brought down to 1.75 per cent of GDP over the next 3 years.

• Proposed: Mobile based fertilizer management system; LPG transparency portal; scaling up and rolling out of Aadhar enabled payment for government schemes in at least 50 districts

• Rs. 30,000 crore to be raised through disinvestment

• Efforts to reach broadbased consensus on FDI in multi-brand retail

• Rajiv Gandhi Equity Saving Scheme: to allow income tax deduction to retail investors on investing in equities

• Rs. 15,888 crore to be provided for capitalization of public sector banks and financial institutions

• A central “Know Your Customer” depository to be developed
• Swabhimaan: remaining habitations to be covered; to be extended to more habitations; ultra small branches to be set up in Swabhimaan habitations

• Investment in 12th Plan in infrastructure to go uptoRs. 50,00,000 crore; half of this is expected from private sector

• Tax Free Bonds of Rs. 60,000 crore to be allowed for financial infrastructure projects

• Allocation of Road Transport and Highways Ministry enhanced by 14 per cent to Rs. 25,360 crore

• Financial package of Rs. 3,884 crore for waiver of loans to handloom weavers and their cooperative societies; mega handloom clusters in Andhra, Jharkhand; weaver service centres in Mizoram, Nagaland and Jharkhand ; powerloom mega cluster in Maharashtra; Rs. 500 crore pilot schemes for geo-textiles in North-Eastern region

• Rs. 5,000 crore India Opportunities Venture Fund to help small enterprises

• Allocation to agriculture enhanced; RKVY gets Rs. 9,217 crore; BGREI gets Rs. 1,000 crore; Rs.2242 crore project to improve dairy productivity; Rs. 500 crore for coastal aquaculture

• Various other agricultural activities merged into 5 missions

• Target for agricultural credit raised to Rs. 5,75,000 crore

• Interest subvention for short-term crop loans to farmers at 7 per cent interest continues; additional 3 per cent for prompt paying farmers

• Rs. 200 crore for awards to incentivise agricultural research

• Provisions under rural housing fund increased to Rs. 4,000 crore from Rs. 3,000 crore

• Interest subvention of 1 percent on housing loans uptoRs. 15 lakh extended for one more year

• AIBP allocation raised by 13 per cent to Rs. 14,242 crore

• National Mission on Food Processing to be started in cooperation with State Governments

• Scheduled Caste Sub Plan allocation increases by 18 per cent to Rs. 37,113 crore; Tribal Sub Plan by 17.6 per cent to Rs. 21,710 crore

• Multi-sectoralprogramme to address maternal and child malnutrition in 200 high burden districts

• 58 per cent rise in allocation to ICDS, at Rs. 15,850 crore

• Rural drinking water and sanitation gets 27 per cent rise in allocation to Rs. 14,000 crore; PMGSY gets 20 per cent rise to Rs. 24,000 crore

• Projects covering length of 8800 km to be awarded under NHDP against 7,300 km during 2011-12

• RTE-SSA gets Rs. 25,555 crore allocation, showing an increase of 21 per cent; 6000 schools to be set up at block level as model schools in the 12th Plan; Credit Guarantee Fund to be set up for better flow of credit to students · National Urban Health Mission is being launched

• 34 per cent increase in allocation to National Rural Livelihood Mission, to Rs. 3915 crore

• Rs. 1000 crore allocated for National Skill Development Fund

• Bharat Livelihood Foundation to be established to support livelihood interventions particularly in tribal areas

• Widow pension and disability pension raised from Rs. 200 to Rs. 300 per month

• Grant on death of primary breadwinner of a BPL family in the age group 18-64 years doubled to Rs. 20,000

• Defence services get Rs. 193407 crore; any further requirement to be met

• 4000 residential quarters to be constructed for Central Armed Police Forces

• UID-Aadhar to get adequate funds for enrolment of 40 crore persons, in addition to the 20 crore persons already enrolled

• White Paper on Black Money to be laid in the current session of Parliament

• Tax proposals mark progress in the direction of movement towards DTC and GST

• Income tax exemption limit raised from Rs.1,80,000 to Rs.2,00,000; upper limit of 20 per cent tax slab raised from Rs.8 lakh to Rs.10 lakh

• Interest from savings bank accounts deductible upto Rs.10,000; deduction of upto Rs.5,000 for preventive health check-up

• Senior citizens without business income exempt from advance tax

• Investment linked deduction of capital expenditure enhanced for certain businesses; new sectors eligible for investment linked deduction

• Turnover limit for compulsory tax audit for SMEs raised from Rs.60 lakh to Rs.1 crore

• STT on cash delivery reduced by 25 per cent to 0.1%

• General Anti Avoidance Rule being introduced to counter aggressive tax avoidance

• A number of measures proposed to deter generation and use of unaccounted money

• All services to attract service tax except those in the negative list

• Central Excise and Service Tax being harmonized

• Standard rate of excise duty raised from 10 per cent to 12 per cent; service tax rates raised from 10 per cent to 12 per cent; no change in peak customs duty of 10 per cent on non-agricultural goods

• Relief in indirect taxes to sectors under stress; agriculture, infrastructure, mining, railways, roads, civil aviation, manufacturing, health and nutrition, and environment get duty relief

• Certain cigarettes and bidis attract higher excise duty; large cars attract higher customs duty

• Excise imposed on unbranded jewellery also; measures to minimize impact on small artisans and goldsmiths; branded silver jewellery exempted from excise duty

• Net gain of Rs.41,440 crore due to taxation proposals

• Total expenditure budgeted at Rs. 14,90,925 crore; plan expenditure at Rs. 5,21,025 crore – 18 per cent higher than 2011-12 budget; non plan expenditure at Rs. 9,69,900 crore

• Fiscal deficit targeted at 5.1 per cent of GDP, as against 5.9 per cent in revised estimates for 2011-12

• Central Government debt at 45.5 per cent of GDP as compared to Thirteenth Finance Commission target of 50.5 per cent

• Medium-term Expenditure Framework Statement to be introduced; will set forth 3-year rolling target for expenditure indicators

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Live Updates of UNION BUDGET 2012-2013 presenting by Pranab in Parliament

The Union Finance Minister Pranab Mukherjee is presenting his Union Budget 2012-13 in Parliament. Here are the brief Highlights of UNION BUDGET 2012-2013.

• Focus to tackle malnutrition in 200 high risk districts with coordinated efforts on delivery systemsHeadline inflation remained high.

• Only in December 2011 it has moderated Expect headline inflation to moderate in a few months

• India has achieved diversification of import and export market

• Agriculture supply constraints partly fuelling inflation

• GDP is likely to be 3.6 per cent

• We have to accelerate pace of reforms and improve supply-side management of the economy: FM

• Development in external trade encouraging – exports grew by 23%, imports grew by 29% Domestic demand driven growth to be the focus: Pranab

• 7.6 per cent India GDP growth in 2012-13 is expected

• Economy is now turning around, manufacturing appears to be on revival, says FM

• Agriculture and serivces continued to perform well; economy is now turning around; recovery in core sectors Direct fertiliser subsidy to benefit 9 crore farmers

• From 2012-13 subsidy for food security will be fully provided for

• Better tracking on utilisation of Central funds needed

• Use of PAN for payment of direct and indirect tax have been accepted

• Restrict expenditure on subsidies to 2 per cent to improve quality of public spending

• Pilot projects for direct transfers of subsidy are on and Aadhar-enabled payments in 50 selected districts within 6 months

• Better, leakage-proof delivery of subsidies to be implemented

• Expect average inflation to be lower next year; expect current account deficit to be lower next yea: FM

• Ahead of the Budget presentation, Prime Minister Manmohan Singh and senior Cabinet colleagues had cleared the proposals in a short meeting inside Parliament House.

• Pilot project for direct transfer of subsidiary for kerosene has been initiated in Alwar, Rajasthan

• New IT relief for retail investors upto investment of Rs. 50,000

• Retail investors should invest directly in equity

• Opening the bond market for direct foreign investors

• Government to raise Rs 30,000 crore in 2012-13 from disinvestment of stake in PSUs

• Direct Tax Code (DTC) Bill to be enacted at the earliest, says FM.

• Comment From vamshikrishna Tax exception under Section 80G should be increase at least 1 lac more. around 2lac is reasonable for middle income people

• Microfinance Bill 2012 and many other Bill are proposed to be introduced during the Budget session

• Efforts to arrive at broadbased consensus with state governments on allowing FDI in multibrand retail up to 51 per cent

• India Micro Finance regulation Bill in Budget Session

• Current account deficit 3.6% in 2011-12; this put pressure on exchange rate

• Bottlenecks in infrastructure, Simplifying policies for IPO and Address problem in black money: Pranab

• IPO equity offer above Rs 10 crore will have to be made electronically in capital market reforms

• Rs 15,888 cr to be provided for capitalisation of public sector and regional rural banks and NABARD

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Brief Highlights & Summary of Economic Survey 2011-12

Indian economy is estimated to grow by 6.9% in 2011-12 mainly due to weakening industrial growth. This indicates a slowdown compared not just to the previous two years, when the economy grew by 8.4%, but also from 2003 to 2011, except 2008-9 economic downturn, when the growth rate was 6.7 percent. The Economic Survey 2011-12, presented by the Finance Minister, Sh Pranab Mukherjee in the Lok Sabha, however predicts 7.6% GDP growth in 2012-13 and 8.6% in 2013-14. With agriculture and services continuing to perform well, the slowdown can be attributed almost entirely to weakening industrial growth.

The services sector continues to be a star performer as its share in GDP has climbed from 58% in 2010-11 to 59% in 2011-12 with a growth rate of 9.4%. Similarly, agriculture and allied sectors are estimated to achieve a growth rate of 2.5% in 2011-12 with foodgrains production likely to cross 250.42 million tonnes owing to increase in the production of rice in some States.

The industrial sector has performed poorly, retreating to a 27% share of the GDP. Overall growth during April-December 2011 reached 3.6% compared to 8.3% in the corresponding period of the previous year.

Here are the highlights of Economic Survey 2011-12 :

• Rate of growth estimated to be 6.9%. Outlook for growth and stability is promising with real GDP growth expected to pick up to 7.6% in 2012-13 and 8.6% in 2013-14.

• Agriculture and Services sectors continue to perform well. 2.5 % growth in Agro sector forecast. Services sector grows by 9.4 %, its share in GDP goes up to 59%.

• Industrial growth pegged at 4-5 percent, expected to improve as economic recovery resumes.

• Inflation on WPI was high but showed clear slow down by the year-end; this is likely to spur investment activities leading to positive impact on growth.

• WPI food inflation dropped from 20.2% in February 2010 to 1.6% in January 2012; calibrated steps initiated to rein-in inflation on top priority.

• India remains among the fastest growing economies of the world. Country’s sovereign credit rating rose by a substantial 2.98 percent in 2007-12.

• Fiscal consolidation on track - savings & capital formation expected to rise.

• Exports grew @ 40.5% in the first half of this fiscal and imports grew by 30.4%. Foreign trade performance to remain a key driver of growth. Forex reserves enhanced - covering nearly the entire external debt stock. Central spending on social services goes up to 18.5% this fiscal from 13.4% in 2006-07.

• MNREGA coverage increases to 5.49 crore households in 2010-11.

• Sustainable development and climate change concerns on high priority.

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Highlights of Mid-Quarter Monetary Policy Review, March 2012

The Reserve Bank reduced the CRR by 75 basis points from 5.5 per cent to 4.75 per cent effective March 10, 2012. This measure was necessitated ahead of this scheduled Mid-Quarter Review to address the persistent structural liquidity deficit beyond the Reserve Bank’s comfort level, which would have further worsened during the week of March 12-16 due to advance tax outflows.

Monetary and Liquidity Measures

On the basis of the current macroeconomic assessment, it has been decided to:

1.               keep the cash reserve ratio (CRR) of scheduled banks unchanged at 4.75 per cent of their net demand and time liabilities;

2.               and keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 8.5 per cent.

Consequently, the reverse repo rate under the LAF will remain unchanged at 7.5 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 9.5 per cent.

Global Economy

Since the Reserve Bank’s Third Quarter Review (TQR) of January 24, 2012, there has been modest improvement in the global macroeconomic situation. The recent macroeconomic data for the US economy show some positive signs. In particular, labour market conditions have improved. However, the US Fed expects that economic conditions warrant exceptionally low levels for the federal funds rate at least through late 2014.

The immediate financial market pressures in the euro area have been alleviated to some extent by the European Central Bank (ECB) injecting liquidity of more than one trillion euro through the two long-term refinancing operations. Growth in the euro area, however, turned negative in Q4. The emerging and developing economies (EDEs) are showing signs of growth slowdown. As a result, the global growth for 2012 and 2013 is expected to be lower than earlier anticipated.

Inflation pressures in both advanced economies and EDEs moderated towards the end of 2011 on account of subdued domestic demand and correction in non-fuel commodity prices. Global crude prices, however, have spiked suddenly reflecting both geo-political concerns and abundant global liquidity, accentuating the risks to growth and inflation.

GDP Growth:

GDP growth [year-on-year (y-o-y)] decelerated to 6.1 per cent in Q3 of 2011-12 from 6.9 per cent in Q2 mainly reflecting a slowdown in industrial activity. On the expenditure side, the growth moderation was mainly due to a deceleration in investment activity and weak external demand. The Central Statistics Office (CSO) has estimated the full year growth for 2011-12 at 6.9 per cent, which is in line with the Reserve Bank’s projection.

Growth in industrial production, as reflected in the index of industrial production (IIP), moderated to 4.0 per cent during 2011-12 (April-January) from 8.3 per cent in the corresponding period a year ago. While growth in the capital goods and intermediate goods sectors was negative, growth in the basic goods and consumer goods sectors decelerated marginally. Given the significant volatility in IIP numbers, the Reserve Bank also uses several other indicators to assess the overall industrial activity. The Manufacturing PMI for February suggested that industrial activity remained in an expansionary mode. While corporate sales growth in Q3 of 2011-12 was robust, margins moderated, reflecting increasing difficulty in passing on rising input prices.

Inflation

After remaining above 9 per cent during April-November 2011, y-o-y headline wholesale price index (WPI) inflation rate moderated to 7.7 per cent in December and further to 6.6 per cent in January 2012, before rising to 7.0 per cent in February. While moderation in WPI inflation stemmed mainly from primary food articles, fuel and manufactured products groups also contributed.

Primary food articles inflation, which was modest at 0.8 per cent in December, turned negative (-0.5 per cent) in January 2012, before rising to 6.1 per cent in February. Despite the sharp increase in global crude oil prices, fuel group inflation moderated from 15.0 per cent in December to 12.8 per cent in February, reflecting the absence of commensurate pass-through to domestic consumers.

Non-food manufactured products inflation moderated from 7.9 per cent in December to 5.8 per cent in February 2012, reflecting both a slowdown in domestic demand following the monetary tightening and moderation in global non-oil commodity prices. The momentum indicator of non-food manufactured products inflation (seasonally adjusted 3-month moving average inflation rate) also showed a moderating trend.

Notably, Consumer Price Index (CPI) inflation (as measured by the new series, base year 2010) for the month of January 2012 was 7.7 per cent suggesting that price pressures persist at the retail level.

Fiscal Situation:

The Centre’s fiscal conditions deteriorated during 2011-12 (April-January) with key deficit indicators already crossing the budget estimates for the full year. Apart from sluggishness in tax revenues, Government’s non-plan expenditure, particularly subsidies, increased sharply. As indicated in the TQR, the slippage in the fiscal deficit has been adding to inflationary pressures. Credible fiscal consolidation, therefore, will be an important factor in shaping the inflation outlook.

Money, Credit and Liquidity Conditions:

The y-o-y money supply (M3) growth and non-food credit growth moderated, reflecting the slowdown in the economy. Liquidity conditions have remained significantly in deficit mode. In order to mitigate the liquidity tightness, the Reserve Bank undertook steps to inject primary liquidity of a more durable nature through open market operations (OMOs) aggregating `1,247 billion during November 2011- March 9, 2012 and reduced the CRR by 125 basis points (50 basis points effective January 28 and 75 basis points effective March 10), injecting primary liquidity of about `800 billion. The liquidity situation has since improved and it is expected to ease further in the weeks ahead.

External sector:

While merchandise exports growth decelerated, moderation in imports growth was less pronounced leading to a widening of the trade deficit. After the TQR, the rupee has moved in a range of `48.69 to `50.58 per USD. With sluggish demand conditions in the advanced economies impeding exports growth and crude oil prices rising sharply, the current account deficit (CAD) is likely to remain high. The financing of the CAD will continue to pose a challenge so long as the global situation remains uncertain.

Outlook:

While the recovery in the US has been progressing, economic activity in the euro area has contracted. Although abundant liquidity injection by the ECB has mitigated the immediate pressures in financial markets, a credible solution to the sovereign debt problem is yet to emerge. Sluggish global economic activity, uncertainty in the euro area and rising crude oil prices will hamper growth prospects of EDEs.

On the domestic front, while most indicators suggest that the economy is slowing down, the performance in Q4 of 2011-12 is expected to be better than that in Q3. Inflation has broadly evolved along the projected trajectory so far. However, upside risks to inflation have increased from the recent surge in crude oil prices, fiscal slippage and rupee depreciation. Besides, there continues to be significant suppressed inflation in fuel, fertilizer and power as administered prices do not fully reflect the costs of production.

Guidance:

Recent growth-inflation dynamics have prompted the Reserve Bank to indicate that no further tightening is required and that future actions will be towards lowering the rates. However, notwithstanding the deceleration in growth, inflation risks remain, which will influence both the timing and magnitude of future rate actions.

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Detailed Highlights of Indian Railway Budget 2012-2013

The Union Minister of Railways Shri Dinesh Trivedi in Parliament presented Railway Budget 2012-13, on 14th March 2012, which seeks to raise investment in modernization and upgradation of rail infrastructure. The budget gives very high priority to rail safety and security while passenger fares have been increased marginally. Mr. Trivedi proposed a Budget with highest ever plan outlay of Rs. 60,100 crore which provides Rs. 6,872 crore for new railway lines and significant funds for passengers safety, security and amenities.

Important Highlights of Railway Budget 2012-13:

• 75 New Express Trains, 21 New Passenger Services, 9 DEMU and 8 MEMU services

• 137 Services New Sub-Urban Services to Come up in Mumbai, Chennai & Kolkata

• 725 km New Lines to be Introduced

• A Green Train and 200 Green Energy Stations Proposed

• Special Coaches for Differently- Abled Persons

• Emphasis on Infrastructure Development – 5 Focus Areas Identified

• 19000 km Rail Tracks to BE Modernized

• Mission-mode approach for rail modernisation

• Minor increase in passanger fares

• A slew of passenger amenities being introduced.

In this Budget, the Railway Minister has focused on five important fields, which are:

1.               Safety;

2.               Consolidation;

3.               Decongestion & Capacity Augmentation;

4.               Modernization; and

5.               to bring down the Operating Ratio from 95% to 84.9% in 2012-13.

Full Highlights of Railway Budget 2012-13

TRAIN FARES:

A marginal increase in passenger fares is as follows: By 2 paise per km for suburban and ordinary second class; 3 paise per km for mail/express second class; 5 paise per km for sleeper class; 10 paise per km for AC Chair Car, AC 3 tier and First Class; 15 paise per km for AC 2 tier and 30 paise per km for AC I. The fares will be rounded off to the next nearest five rupees and the minimum fares and platform tickets will cost Rs. 5.

TRAIN SERVICES:

In the Railway Budget, the Minister has proposed 75 new Express trains, 21 new passenger services, 9 DEMU services and 8 MEMU services. Shri Trivedi also announced the extension of the 39 trains; increase in the frequency of 23 trains; 75 additional services to run in Mumbai suburban; 44 new suburban services to be introduced in Kolkata area; 50 new services to be introduced in Kolkata Metro; and 18 additional services to be run in Chennai area.

CONCESSIONS:

The Railway Budget for 2012-13 also provides for 50% concession in fare in AC-2, AC-3, Chair Car & Sleeper classes to patients suffering from ‘Aplastic Anaemia’ and ‘Sickle Cell Anaemia’. It also provides for extending the facility of travel by Rajdhani and Shatabdi trains to Arjuna Awardees.

SCHEMES & BUDGET SUPPORT:

The travel distance under ‘Izzat Scheme’ has also been increasd from 100 kms to 150 kms. Proposing highest ever plan outlay for the Railway Budget, the Railway Minister said that it will be financed through Gross Budgetary Support (GBS) of Rs 24,000 crore; Railway Safety Fund of Rs 2,000 crore; internal resources of Rs 18,050 crore; and Extra Budgetary Resources of Rs 16,050 crore, which includes market borrowing of Rs 15,000 crore through IRFC.

INFRASTRUCTURE & DEVELOPMENT:

• The Railway Budget provides for 725 km new lines; 700 km doubling; 800 km gauge conversion and 1,100 km electrification. Rs 6,872 crore have been provided for new lines; Rs 3,393 crore for doubling; Rs 1,950 crore for gauge conversation and Rs 828 crore have been provided for electrification. The Railway Budget 2012-13 lays emphasis on safety and security of the passengers.

• Shri Dinesh Trivedi said that drawing from the recommendations of the Anil Kakodkar and Sam Pitroda Committees, he has chosen five focus areas. These are: Track; Bridges; Signalling & Telecommunication; Rolling Stock; and Stations & Freight Terminals. Under this a Railway Safety Authority has been proposed as statutory regulatory body; Missions will be created to implement the modernization programme; and setting up of a Railway Tariff Regulatory Authority is to be considered. Two new Board Members (Safety/Research and PPP/Marketing) are to be inducted. Shri Trivedi also announced the setting up of a Rail-Road Grade Separation Corporation to eliminate level crossings. Three ‘Safety Villages’ will also be set up at Bengaluru, Kharagpur and Lucknow for skill development for disaster management. The Railway Minister also announced that an Indian Railway Station Development Corporation will be set up to redevelop stations through PPP mode. He also announced that a Logistics Corporation will be set up for development & management of existing railway goods sheds and multi-modal logistics parks. A National High Speed Rail Authority is also to be set-up.

• Highlighting the efforts being made to improve the amenities and to provide better experience to the passengers at stations the Railway Minister said that 929 stations will be upgraded as Adarsh Stations including 84 stations proposed in 2012-13.

• Specially designed coaches for differently-abled persons will be provided in each Mail/Express trains.

SERVICES TO PASSENGERS:

• RPF helpline will be integrated with the All India Passenger Helpline.

• SMS on passenger mobile phone in case of e-ticket will be accepted as proof of valid reservation. Satellite based real time train information system (SIMRAN) will be introduced to provide train running information to passengers through SMS, internet, etc.

• On board passenger displays indicating next halt station and expected arrival time will be introduced.

• 321 escalators will be installed at important stations of which 50 will be commissioned in 2012-13.

• Regional cuisine will be introduced at affordable rates. The Railway Minister also announced launching of Book-a-meal scheme to provide multiple choice of meals through SMS or email.

• Coin/currency operated ticket vending machines will be introduced during 2012-13.

• Rail Bandhu on-board magazines will be distributed on Rajdhanis, Shatabdis and Duronto trains.

• The Railway Budget 2012-13 also proposes setting up of AC Executive lounges at important stations. The Railway Minister announced that pre-feasibility studies on six high speed corridors have already been completed and study on Delhi-Jaipur-Ajmer-Jodhpur will be taken up in 2012-13.

BENEFITS TO EMPLOYEES:

Announcing the measures for the welfare of railway employees, the Minister proposed a wellness programme for railway staff at their work places; ensuring proper rest for skilled and technical staff including the running crew; and institution of ‘Rail Khel Ratna’ Award for 10 rail sports-persons every year.

ENVIRONMENTAL INITIATIVES:

Caring for the environment, the Railway Minister announced the introduction of a ‘Green Train’ to run through the pristine forests of North Bengal; 200 remote railway stations will be set up as ‘green energy stations’ powered entirely by solar energy; solar lighting system will be provided at 1,000 manned level crossing gates; 2,500 coaches will be equipped with bio toilets. Shri Dinesh Trivedi also announced setting up of 72 MW capacity windmill plants in Andhra Pradesh, Karnataka, Kerala, Tamil Nadu and West Bengal.

EMPLOYMENT OPPORTUNITIES :

The Minister said that during 2011-12 the railways recruited over 80,000 persons to fill up various vacancies; now he proposes to recruit over one lakh persons during 2012-13 so that backlog of SC/ST/OBC and other categories will be wiped off. The Minister announced that freight loading during 2012-13 is expected to be 1,025 MT which will be 55 MT more than 2011-12. The passenger growth during the year is pegged at 5.4%.