Budget 2018: Exemption on interest income for senior citizens hiked to Rs50,000

by Frankie Norman February 2, 2018, 13:47
Budget 2018: Exemption on interest income for senior citizens hiked to Rs50,000

The minister said 36,000 km of rail track renewal has been targeted in the coming year while 4,267 unmanned railway crossings on broad gauge routes are to be eliminated in the next two years.

Jaitley in his Budget speech also said that it has been decided that by 2022, every block with more than 50% Schedule Tribe (ST) population and at least 20,000 tribal persons will have an Ekalavya Model Residential School.

To the thumping of desks from partymen, Finance MinisterArun Jaitley rose in the lower house of parliament to deliver what is likely to be the last full year budget ahead of an election that must be held by May 2019. "The Airports Authority of India has 124 airports".

The minister also said that 12,000 wagons, 5160 coaches and 700 locomotives are being brought in to the network. This amount is almost five times the allocation of Rs 200.11 crore as per the revised estimates of 2017-18.

Escalators are to come up at all railway stations with footfalls exceeding 25,000, while all trains are to be progressively provided with WiFi, CCTV and other state-of-the-art amenities.

Jaitley also announced redevelopment of 600 major railway stations by Indian Railway Station Development Co.

In addition, a new institute is to come up at Vadodara to train manpower for high-speed rail networks. He said regional connectivity scheme of UDAN (Ude Desh ka Aam Nagrik), which would ensure that even those wearing "chappals" will be able to fly, has also been initiated to connect 56 unserved airports and 31 unserved helipads, and operations had already started at 16 airports.

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