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Mixed reaction to Railway budget

NEW DELHI: The Railway Budget for 2009-10 has evoked a mixed reaction among corporate bodies mostly because Railway Minister Lalu Prasad had not sought to reduce freight charges.

The Confederation of Indian Industry (CII) and the Associated Chambers of Commerce and Industry of India (Assocham) have termed it as user-friendly saying that the budget focussed on capacity building for the future.

CII Director-General Chandrajit Banerjee said the increase in wagon and locomotive production would benefit manufacturers and heavy industries, while Sajjan Jindal, President, Assocham, said the proposed borrowing would benefit the railways.

The newly elected President of the Federation of Indian Chambers of Commerce and Industry, Harsh Pati Singhania, said that it was a mixed bag and maintained that Mr. Prasad should have reduced freight charges keeping the slowdown in mind.

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Mixed reaction to Railway budget

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