Impact Of Railway Budget
The economy of a country is a complex phenomenon which is interdependent on factors like socio-political structure, environment, demography, per capita income etc. and determines the living conditions of its citizens. Due to this we all anxiously wait for the budget every year both general and Railway Budget as it has a direct impact on us.
How will the Railway Budget impact the common man?
Indian Railway is the lifeline of its economy and provides the thrust required for development. It is crucial for the government to ponder before allocation of funds for the Railway budget as it generates revenue for the government which is utilized for developmental works like construction of roads, infrastructure etc.
It is not just a mode of transportation used by people to travel but also to carry goods from one state to another in a time frame. The goods transported through railways, we use in our daily life for sustenance and there is a charge attached to it called freight charges. So the price of a commodity is directly linked with freight charges apart from other taxes levied by the government from time to time. It impacts the wholesale as well as the retail market price which in turn affect the common man for survival in today’s inflationary volatile market conditions.
That is the reason when there is an increase in charges like passenger fares, freight and cargo charges, other cost and levies we see public unrest for all sectors and from different industry bodies and corporate. Though it’s a tough task and challenge for the government as their survival depends on budget – railway or general. Otherwise, they will not get the second term if they do not appease the common man. On the other hand, the fiscal deficit amounting to losses make it difficult to run the railway. If enough revenue is not generated then it’s practically difficult to provide better world class services to the people.
With the increase in fuel charges, labor cost, maintenance charges, wages etc. have a ripple Impact of Railway Budget and the government at times bound to increase charges to meet the operating cost demands. The cost of introduction of new trains, coaches and automation need huge investment and the prime target is the common man from whom the revenue can be generated. And the public has to bear the burden rather than share it with the government. The general public has to shell out their hard earned money and savings for the future.
As we know that railway caters to all the sections of the society so it is at everyone’s reach though they struggle a lot to manage at the end it is not possible for all to afford to travel by air. Because of this, we have seen the common man is least concerned or bother about airfares but are very anxious and eager to know About Railway Budget. However, the railway is beneficial for government employees or those who have the facility to avail LTC. It is the responsibility of the government to work out the budget in a manner that will not hurt the common man and a hindrance to Generate revenue for the railway. If both the end will meet then the nation will progress.