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FEB 26, 2013 - Yahoo! News

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India's railway budget sets tone for austerity year

NEW DELHI (Reuters) - India reined in spending on its vast but decrepit rail network on Tuesday, setting the tone for what is expected to be the most austere federal budget in years in two days' time as the government struggles to tame its fiscal deficit. Gross budgetary support for the railways will rise nearly 8 percent to 260 billion Indian rupees ($4.82 billion) in the coming fiscal year, less than half the 20 percent increase that was allocated in last year's rail budget. ...

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