Business
What’s likely to be unveiled by the Railway Budget
The Rail Budget this year will focus on making long-distance travel comfortable, densening the railway network in the poll-bound states and enhancing the connectivity in metro cities as well as the Northeast region.
Union Finance Minister Nirmala Sitharaman will present her fourth Budget on Tuesday (February 1).
This will be the sixth joint Budget after the merger of the Rail Budget with the Union Budget in 2017.
As per information, it is expected that the Centre will increase the Rail budget by 15 to 20 per cent this year.
With the Assembly elections in five states round the corner, the Centre can announce new railway facilities for the common passengers.
Although the Railways incurred a loss of Rs 26,338 crore in the last one year, this time the Rail Budget is expected to be enhanced to around Rs 2.5 lakh crore.
Last year, the Centre allocated a record budget of Rs 1,10,055 crore for the Railways.
The Centre can also propose the electrification of a record 7,000 km of railway track this time as part of its efforts to achieve complete electrification of broad-gauge railway lines by the end of 2023.
The lower and the middle class pay special attention to the Rail Budget as they share a deep connection with the railways, which is considered as the lifeline of the country. There is also a possibility of the announcement of high-speed trains in the Budget.
Plans are being made to strengthen the rail connectivity in the poll-bound states and metro cities. For this, the government can involve some private partners.
A bullet train between New Delhi and Varanasi can also be announced in the Budget. Significantly, the work of the first bullet train between Ahmedabad and Mumbai is already underway.
Similarly, announcement of a bullet train on the Delhi-Howrah route is also expected in the Budget.
Announcements regarding semi-high speed trains on the Golden Quadrilateral route, expansion of Vande Bharat Express and new dedicated freight corridors are also expected.
As per the sources, the special focus in the Rail Budget will be on the Golden Quadrilateral Routes, on which the government can announce to run semi-high speed trains having a speed of 180 to 200 kmph. These trains will be like the Vande Bharat Express.
The replacement of the old ICF coaches in all trains and installation of new LHB coaches, is another major announcement to be expected in the Budget.
About ten new light trains (aluminium ones), which are energy efficient, can be announced for long distance journeys. Similarly, a proposal to make 6,500 aluminium coaches, 1,240 locomotives and about 35,000 wagons can be proposed in the Budget.
Railways is also manufacturing several special trains replacing the traditional IPS coaches with the LHB coaches made of German technology. Also the coaches for a new ‘Deccan Queen’ are being manufactured at the Integral Coach Factory in Chennai.
For this new ‘Deccan Queen’, two specially designed coaches for guards, five AC chair car coaches, 12 non-AC chair car coaches and one pantry cum dining coach have been made. This train will have 20 coaches and each one will have its own specialty. On the same lines, other trains are also expected to be announced in the Budget.
In the Rail Budget, the Centre will also be focusing on the expansion of the rail network in the Northeast region.
In the last Budget also, the Finance Minister had announced plans to build new DFC corridors for routes like East Coast, East-West and North-South. Just before the Manipur elections, for the first time since Independence, a goods train reached Rani Gaidinliu railway station in Tamenglong district of Manipur.
Railway Minister Ashwini Vaishnaw has recently taken stock of the Jiribam-Imphal new line project in Manipur through an aerial survey. The project includes the longest tunnel in the country, which will connect Guwahati and Imphal. Vaishnaw had said that Rs 7,000 crore has been allocated this year for various rail projects in the Northeast.
Business
Centre sends notice to Ola, Uber over different pricing for iPhone, Android commuters
New Delhi, Jan 23: Leading taxi aggregators Ola and Uber have been served notices by the Department of Consumer Affairs over differential pricing for the Android and iPhone commuters, seeking responses from the online cab-hailing platforms, Union Minister of Consumer Affairs, Pralhad Joshi, said on Thursday.
Minister Joshi said in a post on X social media platform that the Department, through the Central Consumer Protection Authority (CCPA) has issued notices to these cab aggregators.
“As a follow-up to the earlier observation of apparent differential pricing based on different models of mobiles – iPhone/Android – being used, Department of Consumer Affairs, through the CCPA, has issued notices to major cab aggregators Ola and Uber, seeking their responses,” the minister noted.
Uber and Ola have been directed to respond to the notices issued by the Department. In another post, the minister said that after receiving complaints on the National Consumer Helpline (NCH) regarding performance issues in iPhones following the iOS 18+ software update, “the Department, after examining these grievances, has issued a notice to Apple through the CCPA, seeking a response on the matter”.
Last month, Minister Joshi requested the CCPA to carry out a comprehensive inquiry and had warned the affected companies that there would be “zero tolerance for consumer exploitation.” If differential pricing was used, he claimed it was a “blatant disregard” for the rights of customers.
“This, prima facie, looks like unfair trade practice where the cab-aggregators are alleged to be using differential pricing based on the factors mentioned in the article below. If so, this is blatant disregard for consumers’ rights to know,” he posted on X.
The Union Minister also ordered investigations into other industries, like online ticketing apps and food delivery, to determine whether any comparable problems were reported.
Social media was abuzz last month over cab aggregators charging different prices for users, with the prices being higher for people using iPhones to book their services.
Business
Jharkhand to honour Ratan Tata’s legacy with Republic Day tableau
New Delhi, Jan 23: Jharkhand is set to pay tribute to the late iconic industrialist Ratan Tata through its tableau for the Republic Day celebrations, showcasing his enduring contribution to the state and the nation.
The highlight will be Jamshedpur, the city the business leader helped build, famously known as the first ‘steel city’ of India.
Jamshedpur, located in southeastern Jharkhand at the confluence of the Subarnarekha and Kharkai rivers, stands as a symbol of India’s industrial prowess.
Named after Jamsetji Tata, who established a steel plant there in 1911, Jamshedpur has grown to become the state’s largest urban hub and an important industrial and transportation centre.
This year’s tableau, praised for its creative design, emphasises Ratan Tata’s significant role in Jharkhand’s development as it was his visionary initiatives in the 1960s that laid the foundation for the state’s formal establishment in 2000.
The display will present a panoramic view of the industrial units of Jamshedpur, also known as Tata Nagar, and will highlight Jharkhand’s progress while celebrating its cultural richness.
Alongside industrial achievements, the tableau will showcase Jharkhand’s traditional dance forms, handicrafts, and art. Sohrai and Khobar paintings, created by tribal artists, will take centre stage.
Shalini Verma, Deputy Director of the Information & Public Relations Department of Jharkhand, told Media, “This time we have decided to honour Ratan Tata, as he started the industrialisation in Jamshedpur. Along with this, we have shown women empowerment by showcasing how they generate employment by working.”
“We have also focussed on education. Because industrialisation and education, both reflect Viksit Bharat and Viksit Jharkhand,” she added.
These murals, deeply rooted in the state’s tribal heritage, celebrate themes of harvest, fertility, and spirituality, underscoring Jharkhand’s strong connection to nature.
The middle section of the tableau will feature rural women engaged in crafting traditional handicrafts, symbolising the integration of heritage and development.
This element reflects how Jharkhand’s traditions and resources are contributing to the nation’s progress, embodying the theme of “Virasat and Vikas.”
Adding to the tableau’s vibrancy, the UNESCO-recognised Chhau Dance of Saraikela will be performed as part of the ground element. This traditional dance, rooted in mythological themes, will showcase the dynamic cultural heritage of the state.
Having previously highlighted themes like ‘tassar silk’ and the Baba Baidyanath Temple, Jharkhand’s participation in this year’s celebrations will stand out as one of 15 states and Union Territories presenting tableaus in the national Capital.
The tableau is expected to reflect Jharkhand’s unique blend of tradition and progress, making it a captivating centrepiece of the Republic Day celebrations.
It is a fitting tribute to Ratan Tata and the late industrialist-cum-philanthropist’s transformative vision that helped shape the state’s identity and future.
Business
Torres Jewellery Ponzi Scam: Bombay HC Orders Transfer Of All FIRs To EOW, Directs Formation Of SIT
Mumbai: The Bombay High Court on Wednesday directed the transfer of all FIRs related to the Rs 1,000 crore Torres scam to the Economic Offences Wing (EOW) of the Mumbai Police. Four FIRs have been registered across Mumbai and MMR, alleging that the jewellery chain defrauded over 1.25 lakh investors.
A bench of Justices Revati Mohite-Dere and Neela Gokhale instructed EOW Deputy Commissioner of Police Sangramsinh Nishandar, who attended the hearing virtually, to constitute a Special Investigation Team (SIT) for the probe. The SIT will include officers from police stations where the FIRs were originally lodged.
Apart from EOW Mumbai, FIRs were registered by the Thane, Navghar, Mira Bhayandar, and Navi Mumbai police. The Navi Mumbai FIR was earlier transferred to its local EOW branch.
The court was hearing a petition filed by Mumbai-based chartered accountant Abhishek Gupta, 31, who claims to have exposed the scam. Gupta sought police protection, citing threats to his life. The court directed Mumbai Police Commissioner Vivek Phansalkar to provide protection to Gupta until the next hearing, scheduled after eight weeks.
During the hearing, the court criticized the police for their delayed action despite being alerted to irregularities in June 2024. The bench observed, “The police need to be alive to what is happening and act promptly to ensure the common man does not lose their hard-earned money.”
The scam involved cheating investors through a combination of Ponzi and multi-level marketing (MLM) schemes. The EOW has so far arrested three individuals, including two foreign nationals. Public Prosecutor Hiten Venegaonkar informed the court that of the 12 accused, eight — seven Ukrainians and one Indian — fled the country before December 30, 2024. He assured the court that their locations are now known and action will be taken.
Venegaonkar also revealed that the Navi Mumbai EOW had been secretly investigating the case since October 2024, after realizing the scale of the fraud. “They quietly collected information and summoned individuals linked to Torres’ showrooms. The hue and cry started after the payments stopped in the last week of December. That’s when the Ukranians fled the country,” he said.
The court, however, emphasised the lack of urgency shown by the police. “Somewhere there has been dereliction of duty. Nobody has acted with alacrity,” the bench remarked. It also urged the police to develop mechanisms to prevent similar scams in the future, stating, “Now you know their modus operandi. Police need to be alive to what is happening and take prompt action so that people do not lose their money. Or there can be some mechanism in the future,” it added.
Responding to a court query, Nishandar requested eight weeks to show progress in the case.
Gupta, who audited the accounts of Platinum Hern Pvt Ltd, Torres’ parent company, claimed to be a vulnerable witness at risk of being targeted by the scam’s perpetrators. He alleged that the company’s directors—Sarvesh Surve and Taufiq Riaz (alias John Carter)—and an employee, Laxmi Yadav, had warned the police about the scam as early as June 2024. However, the authorities only took cognizance on January 2, 2025.
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