New Delhi: Responding to the Railway Budget announced today (26 February), the Confederation of Indian Industry (CII) said the Railway Minister has focused on building capacity for the future by making the required investments in infrastructure.
A press release issued by the Confederation says its president Sunil Mittal is of the view that the projects for port connectivity, freight corridors, container terminals and improved passenger amenities announced in the Budget will go a long way in making India’s railway network more modern and efficient.
CII welcomed the partnership with the private sector, opening up yet another avenue for industry to participate in the growth of Indian Railways. The Minister announced public-private partnership schemes to be launched for attracting an investment of Rs 100,000 crore over the next five years for developing world class stations, rolling stock and other logistics.
The reduction in the freight rate for petrol and diesel by 5% and on fly ash by 14% was also welcomed by CII. This Confederation says reduction will help offset to some extent the impact of the hike in fuel prices.
CII adds, the forward looking Railway Budgetwill create a win-win situation for all – the railways, the wagon manufacturers, heavy industries and the common man. With the past experience of the Railways clearly demonstrating that pragmatic policies and aggressive planning can give substantial benefits to the Railways, its consumers and the national economy, the industry expects a sustained proactive and still more ambitious approach from the Railways towards growth.