The Hindu : Karnataka / Bangalore News : Industry happy with Lalu’s Railway Budget

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Wednesday, Feb 27, 2008
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Karnataka

Karnataka - Bangalore

Industry happy with Lalu’s Railway Budget

Special Correspondent

BCIC terms it ‘appealing and progressive’

Bangalore: Industry associations in the State have welcomed the Railway Budget for 2008-09. Bangalore Chamber of Industry and Commerce (BCIC) president John M. Panikar called the Budget “appealing and progressive” in which the “prospects for the railways seem very good” because it has achieved the highest operating ratio in four decades.

The record surplus, which is projected to touch Rs. 25,000 crore this financial year, was a good sign, according to Mr. Panikar.

The Federation of Karnataka Chambers of Commerce and Industry (FKCCI) welcomed the Railway Budget, terming it an “Aam Aadmi Budget”.

Federation vice-president J. Crasta said the Railways’ healthy fund balance “would lead to huge investments in the near future.”

The FKCCI welcomed the reduction in freight rates for petrol and diesel and the reduction in freight rates for destinations in the North East. It said the proposal for leasing wagons from private sources “will benefit in raising revenues for the Railways.”

The BCIC “congratulated” the Railway Minister Lalu Prasad “for a number of initiatives such as launching of public-private partnership schemes for attracting investments, leveraging telecom boom for modernisation, multi-departmental innovation promotion group at apex level, and coming out with Vision 2025 document to chart the roadmap for the future.” It welcomed the environmental friendly measures, and the introduction of 10 new garib raths, apart from 53 new trains.

Greater connectivity

The early completion of the east-west corridor, it said, “would ensure greater connectivity across the country.”

The BCIC praised the Railway Budget for its “modernisation measures”, which it said “will help the Indian Railways keep pace with international norms.”

The FKCCI said the extension of trains starting from destinations in Karnataka “will help the economy of the State.”

Both associations welcomed the measures to improve amenities, and the fare concessions offered to women, senior citizens, students and other sections.

‘Balanced’

Karnataka Small Scale Industries Association (KASSIA), Bangalore, termed as “balanced” the Union Railway budget tabled in Parliament on Tuesday.

KASSIA welcomed steps taken for modernisation of railway administration and reduction in passenger fare. However, there was no major proposal in the budget to enhance the rail connectivity in the State.

Mr. Lalu Prasad’s budget was “well balanced in terms of passenger and freight movement,” KASSIA president M.C.R. Shetty said in a pressnote.

Siemens welcomes it

V. Parulekar, Director, Siemens Ltd, termed the Budget “very satisfactory and favourable to industry.”

The proposals aimed at increasing safety, enhancing capacities and passenger amenities were welcome, he said.

The investments in the dedicated freight corridors, new locomotives, and newly designed wagons would provide additional opportunities for the industry. He said the public-private partnership projects would benefit from the operational efficiencies of the private sector and the “domain expertise” of the Railways.

“Overall, the Railway Budget is beneficial for the industry and our business,” he said.

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