Industry hails rail budget

Chennai:  

Confederation of Indian Industry and Federation of Indian Chambers of Commerce and Industry (FICCI) in the state has hailed the railway budget stating that it is bold and pragmatic and meets the long term needs of the nation.

FICCI  Tamil Nadu State Council welcomed the Railway Budget for raising passenger fares that had not been touched since a decade while CII said the rail budget is a good balancing act, given the fund constraints.

Chandrajit Banerjee, Director General, CII, said the five-point agenda outlined in the budget along with focus on bringing down operating ratio through greater efficiency would go a long way in infusing the necessary momentum to rail infrastructure upgradation.

FICCI advisor to president P Murari said the much needed investment in infrastructure will result in safety, decongestion, capacity augmentation and modernization of system, creating a more vibrant railways. Separate railway tracks for freight movement will help in traffic congestion and at the same time accidents can be reduced, he added.

CII said that that an independent body mooted by the railway minister, for examining the freight and passenger fares balance so that dependence on freight is reduced, would bring comfort to industry for goods movement which subsidises passenger routes.

FICCI lauded the efforts to bring down the operating ratio from 95 per cent to 74 per cent in the terminal year of 12th Five Year Plan and said the railway budget is an attempt to put the railways finances back on track through revenue mobilisation efforts.