There are the top 5 business stories of the day:
- Railway Budget 2016: Earnings likely to fall short of target by over Rs 15,700 crore this fiscal
Railways’ revenue from passenger fares, as well as freight rates, is expected to fall short of the Budget target by Rs 15,744 crore in the current fiscal. Read more.
- Railway Budget 2016: Hope to generate Rs 1,84,820 crore; up 10% of revised target: Suresh Prabhu
Railway Minister Suresh Prabhu presenting the second Railway Budget 2016 in the Parliament on Thursday said that India Railways have a saving of Rs 8,720 crore from previous budget estimates.
He said, “We hope to generate revenues to the order of Rs 1,84,820 crores.” Read more.
- Budget 2016: Indian farmers deep in debt, seek subsidies, help with insurance
Indian government action to increase spending on irrigation and crop insurance is not enough to end a cycle of indebtedness that has led to thousands of farmer suicides, and a complete overhaul of credit and subsidies to farmers is needed, activists said. Read more.
- Railway Budget 2016: Fails to cheer market, Sensex down 82 points
The market was not too much enthused by a 21% hike in capital outlay announced in the Rail Budget 2016 as the benchmark Sensex slipped below the key 23,000-mark briefly before shaping up. Read more.
- China stocks tumble over 6%, post biggest day loss in month
China stocks tumbled more than 6% on Thursday, posting their biggest one-day loss in a month, as investors booked profits after the market’s recent rebound. Read more.