Rail Budget 2012-13: An ambitious agenda, says Emkay

The railway ambitious targets for the FY13 budget (revenue) and a five-year plan for capital expenditure of 12 percent will be set at 4x Rs7350bn. Sharp improvement in operating ratio to achieve the Goals

FY13E highlight (1) Gross Rs1.3tn (+28%) (2) 84.9% in the operating ratio (+1010 bps), and (3) The capital cost of Rs 601bn (up 21%) of the traffic receipts
74% from the FY17 v / s FY12 operating ratio of 95% in the specification. This is significantly higher than the average time. Of 93% (FY09-FY12). Budget 1963-64 is known to be proportional to the benchmarking.

Sharp toll freight rates (on 6 March) on the railways for the transport sector will be negative. The combined budget for railway stock
Railway Budget allocations announced today are difficult, the operating ratio (at 95% to 85% in FY12), the expected improvement in the rate of increase in freight (cargo freight hiked last week to rent the following passengers) GOI of the modest growth in fiscal aided by a combination of Railway Budget (Rs 240bn), and low-market loan (Rs 165bn) to support.

Non-Populist - a reflection of tight financial situation: Railway Budget will be considered non-populist and intensely tight fiscal situation facing the general government and the railway is a reflection of declining profits. The toll charge for the passengers (10% to 12%) after an 8-year-long vacancy has occurred is reflected.

FY13E to 27.6% in gross traffic receipts of Rs 1.3tn expected: Rail Traffic gross income increased sharply by 28% from Rs1 254 bn, FY13E in, Rs360.7 bn (1) 25.2% increase in passenger earnings driven by I - 10-12% increase in fares and passenger traffic growth of between 5.4% and (2) increased from 30,2% Rs893.4 bn in value-added income for rent. Sharp growth in freight earnings (1) 5.6% 1025-MT increase in freight loading, and (2) freight rates (6 Mar'12 to be affected) will be driven by the growth of 20-32%. We believe that the gross traffic earnings targets, and the frustration I felt.

Rail freight is expected to grow from 5.6% by 1025-MT, is optimistic: the transport and movement of traffic by 5.6% from the 1025-MT FY12P of 970 MT (current estimate) is expected to be. Rail freight is expected to (1) an increase in domestic coal production can be driven by strong growth - the annual traffic of about 50% (CIL's production is expected to expand by 6.4%), and (2) healthy growth across product categories consist of

A moderate 10-12% by passenger fares hiked: 8-year hiatus, the railroad across the board by 10-12% increase in passenger charges. We believe that the increase in passenger fares lower operating costs (in the last 10 years in the oil price up 50%) and significant cross-subsidization from freight carried in a sharp increase in prevalence has been moderate.




http://www.wireless-warrior.org/user_detail.php?u=owen35
http://www.bloopers.com/uprofile.php?UID=2151
http://www.czarsolutions.com/topics/html/user.php?op=userinfo&uname=mrvm38
http://equityhomeloan.co.uk/user.php?op=userinfo&uname=arieia40
http://www.gymnasttube.com/uprofile.php?UID=2209
http://www.fto.ro/user_detail.php?u=aggie36
http://www.vacation-rentals.tv/user_detail.php?u=owen35
http://totalblacktv.com/myview/uprofile.php?UID=8661
http://xnaessentials.net/members/namer33.aspx
http://www.rodir.ro/user_detail.php?u=annike34
http://dcs.vein.hu/moodle/user/view.php?id=5722&course=1
http://businessesdallas.com/user_detail.php?u=agnes37
http://www.1stcyprus.com/user_detail.php?u=owen35
http://www.gymnasttube.com/uprofile.php?UID=2201
http://qiyepu.cn/uprofile.php?UID=1874
http://www.e-balonmano.com/moodle/user/view.php?id=3518&course=1
http://testcs.timestrib.com/members/bunny41.aspx
http://www.landsurveyorcompany.com/user_detail.php?u=owen35
http://ael.uarcis.cl/16/user/view.php?id=5846&course=1
http://cutesoft.net/members/namer33.aspx
http://neonlounge.com/member/userinfo.php?uid=182914
http://mylibertopia.com/members/arieia40.aspx
http://www.bladimix.com/userinfo.php?uid=15830
http://www.1stcyprus.com/user_detail.php?u=mrvm38
http://www.italiaeventiclub.it/user.php?op=userinfo&uname=lhly39
http://www.wireless-warrior.org/user_detail.php?u=aggie36
http://mylibertopia.com/members/aggie36.aspx
http://www.fto.ro/user_detail.php?u=arieia40
http://testcs.timestrib.com/members/mrvm38.aspx
http://www.terreurs.com/userinfo.php?uid=879
http://cutesoft.net/members/arieia40.aspx
http://www.irel-open.ie/user/view.php?id=22735&course=1
http://www.czarsolutions.com/topics/html/user.php?op=userinfo&uname=owen35
http://www.e-balonmano.com/moodle/user/view.php?id=3524&course=1
http://businessesdallas.com/user_detail.php?u=owen35
http://ael.uarcis.cl/16/user/view.php?id=5849&course=1
http://www.legiodraconis.com/user.php?op=userinfo&uname=aggie36
http://www.e-balonmano.com/moodle/user/view.php?id=3517&course=1
http://www.rodir.ro/user_detail.php?u=aggie36
http://www.directoryantiques.com/user_detail.php?u=bernei32
http://www.indochinacio.com/members/namer33.aspx
http://www.bobriwka.org/html/userinfo.php?uid=3174
http://www.80snostalgia.com/user.php?op=userinfo&uname=aggie36
http://www.therapyguide.co.uk/user_detail.php?u=namer33
http://www.fto.ro/user_detail.php?u=mrvm38
http://www.foderick.com/members/arieia40.aspx
http://www.nodo50.org/stes/user/view.php?id=1687&course=1
http://www.wireless-warrior.org/user_detail.php?u=lhly39
http://www.nodo50.org/stes/user/view.php?id=1689&course=1
http://neonlounge.com/member/userinfo.php?uid=182885
http://equityhomeloan.co.uk/user.php?op=userinfo&uname=namer33
http://www.gymnasttube.com/uprofile.php?UID=2210
http://www.irel-open.ie/user/view.php?id=22738&course=1
http://www.rodir.ro/user_detail.php?u=bunny41
http://www.touristguidealaska.com/user_detail.php?u=owen35
http://www.foderick.com/members/bunny41.aspx
http://www.e-balonmano.com/moodle/user/view.php?id=3523&course=1
http://testcs.timestrib.com/members/lhly39.aspx
http://www.irel-open.ie/user/view.php?id=22736&course=1
http://www.terreurs.com/userinfo.php?uid=875
http://www.irel-open.ie/user/view.php?id=22730&course=1
http://www.les4800.com/user_detail.php?u=namer33
http://testcs.timestrib.com/members/annike34.aspx
http://www.bladimix.com/userinfo.php?uid=15827
http://www.rodir.ro/user_detail.php?u=agnes37
http://www.irel-open.ie/user/view.php?id=22733&course=1
http://neonlounge.com/member/userinfo.php?uid=182922
http://www.foderick.com/members/annike34.aspx
http://cutesoft.net/members/annike34.aspx
http://www.bobriwka.org/html/userinfo.php?uid=3182
http://businessesdallas.com/user_detail.php?u=annike34
http://www.czarsolutions.com/topics/html/user.php?op=userinfo&uname=bernei32
http://www.kendouk.net/user.php?op=userinfo&uname=mrvm38
http://www.legiodraconis.com/user.php?op=userinfo&uname=mrvm38
http://www.czarsolutions.com/topics/html/user.php?op=userinfo&uname=agnes37
http://www.sgblog.com/user_detail.php?u=arieia40
http://www.touristguidealaska.com/user_detail.php?u=lhly39
http://www.kendouk.net/user.php?op=userinfo&uname=agnes37
http://www.eoq2007.com/user_detail.php?u=arieia40
http://www.eoq2007.com/user_detail.php?u=owen35
http://mylibertopia.com/members/bunny41.aspx
http://www.kendouk.net/user.php?op=userinfo&uname=lhly39
http://qiyepu.cn/uprofile.php?UID=1873
http://www.kendouk.net/user.php?op=userinfo&uname=aggie36
http://www.nodo50.org/stes/user/view.php?id=1697&course=1
http://www.ldraw.org/user.php?op=userinfo&uname=owen35
http://www.80snostalgia.com/user.php?op=userinfo&uname=namer33
http://www.landsurveyorcompany.com/user_detail.php?u=lhly39
http://www.culturasdearchivo.org/user.php?op=userinfo&uname=agnes37
http://www.czarsolutions.com/topics/html/user.php?op=userinfo&uname=aggie36
http://www.realestatesagents.ca/user_detail.php?u=namer33
http://www.fto.ro/user_detail.php?u=agnes37
http://elrancho.ca/userinfo.php?uid=5302
http://www.wireless-warrior.org/user_detail.php?u=namer33
http://www.foderick.com/members/mrvm38.aspx
http://www.culturasdearchivo.org/user.php?op=userinfo&uname=owen35
http://www.clothingstoreguide.com/user_detail.php?u=lhly39
http://www.bobriwka.org/html/userinfo.php?uid=3179
http://businessesdallas.com/user_detail.php?u=mrvm38
http://elrancho.ca/userinfo.php?uid=5292
http://qiyepu.cn/uprofile.php?UID=1869
http://testcs.timestrib.com/members/bernei32.aspx
http://www.directoryantiques.com/user_detail.php?u=lhly39
http://www.eoq2007.com/user_detail.php?u=mrvm38
http://www.vacation-rentals.tv/user_detail.php?u=agnes37
http://www.ldraw.org/user.php?op=userinfo&uname=aggie36
http://www.rodir.ro/user_detail.php?u=lhly39
http://www.legiodraconis.com/user.php?op=userinfo&uname=owen35
http://www.touristguidealaska.com/user_detail.php?u=annike34
http://equityhomeloan.co.uk/user.php?op=userinfo&uname=annike34
http://www.80snostalgia.com/user.php?op=userinfo&uname=arieia40
http://totalblacktv.com/myview/uprofile.php?UID=8667
http://ael.uarcis.cl/16/user/view.php?id=5847&course=1
http://www.wireless-warrior.org/user_detail.php?u=mrvm38
http://www.bobriwka.org/html/userinfo.php?uid=3175
http://www.fto.ro/user_detail.php?u=bunny41
http://www.bobriwka.org/html/userinfo.php?uid=3176
http://www.realestatesagents.ca/user_detail.php?u=arieia40
http://xnaessentials.net/members/lhly39.aspx
http://www.election-day.info/userinfo.php?uid=18334
http://www.foderick.com/members/aggie36.aspx
http://xnaessentials.net/members/aggie36.aspx
http://www.irel-open.ie/user/view.php?id=22732&course=1
http://www.wireless-warrior.org/user_detail.php?u=arieia40
http://qiyepu.cn/uprofile.php?UID=1870
http://www.les4800.com/user_detail.php?u=lhly39
http://www.election-day.info/userinfo.php?uid=18336
http://www.sgblog.com/user_detail.php?u=aggie36
http://www.business-fromhome.com/user.php?op=userinfo&uname=bunny41
http://www.touristguidealaska.com/user_detail.php?u=bunny41
http://www.culturasdearchivo.org/user.php?op=userinfo&uname=lhly39
http://neonlounge.com/member/userinfo.php?uid=182901
http://www.vacation-rentals.tv/user_detail.php?u=bernei32
http://www.gymnasttube.com/uprofile.php?UID=2207
http://dcs.vein.hu/moodle/user/view.php?id=5724&course=1
http://www.rodir.ro/user_detail.php?u=bernei32
http://dcs.vein.hu/moodle/user/view.php?id=5728&course=1
http://www.indochinacio.com/members/owen35.aspx
http://www.e-balonmano.com/moodle/user/view.php?id=3522&course=1
http://qiyepu.cn/uprofile.php?UID=1877
http://ael.uarcis.cl/16/user/view.php?id=5843&course=1
http://www.culturasdearchivo.org/user.php?op=userinfo&uname=annike34
http://www.kendouk.net/user.php?op=userinfo&uname=arieia40
http://www.jesusclips.com/uprofile.php?UID=7588
http://www.xoopsland.com/userinfo.php?uid=184629
http://www.realestatesagents.ca/user_detail.php?u=bunny41
http://www.kendouk.net/user.php?op=userinfo&uname=namer33
http://www.nodo50.org/stes/user/view.php?id=1691&course=1
http://www.ldraw.org/user.php?op=userinfo&uname=mrvm38
http://totalblacktv.com/myview/uprofile.php?UID=8666
http://www.bladimix.com/userinfo.php?uid=15834
http://ael.uarcis.cl/16/user/view.php?id=5845&course=1
http://www.legiodraconis.com/user.php?op=userinfo&uname=bunny41
http://xnaessentials.net/members/arieia40.aspx
http://www.gymnasttube.com/uprofile.php?UID=2206
http://www.legiodraconis.com/user.php?op=userinfo&uname=bernei32
http://equityhomeloan.co.uk/user.php?op=userinfo&uname=bunny41
http://mylibertopia.com/members/annike34.aspx
http://totalblacktv.com/myview/uprofile.php?UID=8657
http://dcs.vein.hu/moodle/user/view.php?id=5723&course=1
http://www.foderick.com/members/owen35.aspx
http://www.1stcyprus.com/user_detail.php?u=namer33
http://www.realestatesagents.ca/user_detail.php?u=agnes37
http://www.gymnasttube.com/uprofile.php?UID=2202
http://elrancho.ca/userinfo.php?uid=5296
http://www.culturasdearchivo.org/user.php?op=userinfo&uname=bernei32
http://mylibertopia.com/members/bernei32.aspx
http://www.eoq2007.com/user_detail.php?u=agnes37
http://www.wireless-warrior.org/user_detail.php?u=annike34
http://www.directoryantiques.com/user_detail.php?u=owen35
http://www.vacation-rentals.tv/user_detail.php?u=arieia40
http://www.les4800.com/user_detail.php?u=arieia40
http://elrancho.ca/userinfo.php?uid=5295
http://www.gymnasttube.com/uprofile.php?UID=2203
http://www.election-day.info/userinfo.php?uid=18332
http://www.nodo50.org/stes/user/view.php?id=1695&course=1
http://mylibertopia.com/members/namer33.aspx
http://ael.uarcis.cl/16/user/view.php?id=5851&course=1
http://www.jesusclips.com/uprofile.php?UID=7585
http://mylibertopia.com/members/owen35.aspx
http://www.wireless-warrior.org/user_detail.php?u=bunny41
http://www.bladimix.com/userinfo.php?uid=15829
http://www.therapyguide.co.uk/user_detail.php?u=bernei32
http://www.italiaeventiclub.it/user.php?op=userinfo&uname=bernei32
http://www.80snostalgia.com/user.php?op=userinfo&uname=bunny41
http://www.sgblog.com/user_detail.php?u=owen35
http://www.landsurveyorcompany.com/user_detail.php?u=arieia40
http://www.golfxtz.com/uprofile.php?UID=1075
http://totalblacktv.com/myview/uprofile.php?UID=8659
http://www.kendouk.net/user.php?op=userinfo&uname=annike34
http://www.business-fromhome.com/user.php?op=userinfo&uname=agnes37
http://www.culturasdearchivo.org/user.php?op=userinfo&uname=mrvm38
http://elrancho.ca/userinfo.php?uid=5297
http://www.bobriwka.org/html/userinfo.php?uid=3173
http://totalblacktv.com/myview/uprofile.php?UID=8662
http://www.les4800.com/user_detail.php?u=annike34
http://www.golfxtz.com/uprofile.php?UID=1076
http://www.kendouk.net/user.php?op=userinfo&uname=bernei32
http://www.indochinacio.com/members/aggie36.aspx
http://www.golfxtz.com/uprofile.php?UID=1071
http://www.business-fromhome.com/user.php?op=userinfo&uname=annike34
http://www.bloopers.com/uprofile.php?UID=2144
http://www.ldraw.org/user.php?op=userinfo&uname=lhly39
http://dcs.vein.hu/moodle/user/view.php?id=5729&course=1
http://www.directoryantiques.com/user_detail.php?u=agnes37
http://www.business-fromhome.com/user.php?op=userinfo&uname=owen35
http://www.italiaeventiclub.it/user.php?op=userinfo&uname=annike34
http://www.czarsolutions.com/topics/html/user.php?op=userinfo&uname=annike34
http://www.uk-student.net/userinfo.php?uid=19381
http://dcs.vein.hu/moodle/user/view.php?id=5721&course=1
http://testcs.timestrib.com/members/arieia40.aspx
http://www.therapyguide.co.uk/user_detail.php?u=mrvm38
http://businessesdallas.com/user_detail.php?u=lhly39
http://www.ldraw.org/user.php?op=userinfo&uname=namer33
http://www.bloopers.com/uprofile.php?UID=2146
http://www.sgblog.com/user_detail.php?u=annike34
http://www.italiaeventiclub.it/user.php?op=userinfo&uname=mrvm38
http://www.legiodraconis.com/user.php?op=userinfo&uname=annike34
http://www.80snostalgia.com/user.php?op=userinfo&uname=owen35
http://mylibertopia.com/members/mrvm38.aspx
http://www.foderick.com/members/bernei32.aspx
http://www.e-balonmano.com/moodle/user/view.php?id=3525&course=1
http://testcs.timestrib.com/members/aggie36.aspx
http://www.bobriwka.org/html/userinfo.php?uid=3180
http://www.sgblog.com/user_detail.php?u=namer33
http://www.czarsolutions.com/topics/html/user.php?op=userinfo&uname=namer33
http://elrancho.ca/userinfo.php?uid=5293
http://www.bloopers.com/uprofile.php?UID=2150