New Delhi, July 03: India Inc on Friday hailed the
Railway Budget 2009-10, which proposed no hike in freight
rates or passenger fares, and termed it as "industry friendly
and progressive."
The announcements like linking industrial clusters to
markets, introduction of projects under PPP mode and setting
up of land banks for commercial and industrial use of railway
land would lead to economic development, the industry said.
"This budget is unique in the way inclusivity and overall
development has been the focus without losing focus on safety,
technology adoption and commercialisation...," CII President
Chandrajit Banerjee said in a statement.
It has provided opportunities for industry though its
capacity expansion programme and setting up infrastructure
through PPP mode, he said.
"The railway budget 2009-10 is clearly a progressive and
a forward looking budget", FICCI President Harsh Pati
Singhania said.
Railways Minister Mamta Banerjee has mooted a number of
projects that would carry railways to the next technology
level, he said.
The industry said Banerjee has presented a people and
industry friendly budget since no increase in passenger fare
and freight tariff has been proposed.
"The industry is pleased that the minister has not
increased freight tariff...," FICCI said.
"In totality the budget proposals will provide for
inclusive growth and at the same time ensure expansion of
railways," Assocham President Sajjan Jindal said.
Assocham, however said elaborate steps and proposals
are "somehow missing" for modernisation of railways to take it
on par with the modern management.
PHDCCI also said no concrete steps have been outlined in
the budget to address capacity constraints on the high density
corridors, improvement of terminal and logistic management.
"Growth of railway traffic faces a major constraint due
to saturation of track capacity and much more needs to be done
in terms of immediate measures for enhancing track capacity
for carrying more freight," was the reaction of PHDCCI
President Satish Bagrodia.
Meanwhile, Gaurav Dua, Head (research) at brokerage firm
Sharekhan said the budget is more reformist than populist.
Bureau Report