Railway budget highlights

New Delhi, July 8 (IANS) Highlights of the railway budget presented by Railway Minister D.V. Sadananda Gowda in the Lok Sabha Tuesday:

* Would require Rs.5 lakh crores in 10 years for modernisation

* Receipts in 2013-14 were Rs.139,550 crore; expenditure was Rs.130,321 crore

* Spend 94 paisa of every rupee earned, leaving a surplus of only 6 paisa

* With 12,500 trains, railways move 23 million passengers every day; equivalent to moving Australia's population

* Target to become largest freight carrier in the world