The Hindu Business Line : Industry welcomes rail budget

Kochi, Feb 13 The trade and industry has welcomed the Railway Budget saying that the Railway Minister, Mr Lalu Prasad, needs to be complimented for turning the country’s largest public sector undertaking with a past record of recurring losses to be one with a remarkable profit of Rs 90,000 crore over a period of five years without burdening the common man.

Mr Satish Murti, President of the Cochin Chamber of Commerce and Industry, said that the move to introduce 43 new trains in 2010 and the increase by 37 per cent of budgetary support to the railway plan is a significant step. Likewise, the decision to increase the capacity of passenger trains by 22 per cent will benefit travellers as well as increase the revenue.

He also welcomed the reduction in fares so also the decision to keep unchanged the freight rates. At a time when the economic recession is looming large, the chamber felt that this is a prudent decision, he said.

The fact that the freight capacity is up 78 per cent and that the Railways managed eight per cent growth in freight loading is also commendable. It also hailed the decision regarding the additional investments planned over the next five years.

Mr Anilkumar N. Prabhu, President of the Indian Chamber of Commerce and Industry, said the Railways should have earmarked sufficient funds for improving facilities and amenities commensurate with the traffic increase. The general two per cent reduction of passenger fares is beneficial to all categories. However, the freight hike announced just before the Budget could have been avoided.

The inclusion of Ernakulam for the purpose of pre-feasibility studies for starting Bullet Trains can be taken only as a passing reference, especially because even the completion of already sanctioned projects in Kerala is getting unduly delayed due to inadequate allocation of funds by the Railways, he said.

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