Rail Minister Gives the Right Direction: CII President

CII WELCOMES RAILWAY BUDGET

Welcoming the Railway Budget 2009-10 presented in the Lok Sabha by Ms Mamta Banerjee, Minister for Railways, Mr Venu Srinivasan, President, CII said that this is in the right direction with an inclusive agenda. 

As anticipated, Minister of Railways has laid out a very pro-people and development oriented budget. Focus has been equally strong for passenger and goods services and this is a welcome step towards the overall approach of the Ministry.

In the 2009 budget, the Hon’ble Minister has taken a very forward looking approach and laid emphasis on PPP initiative to various innovative and constructive projects such as augmentation of wagon fleet, introduction of modern wagons, modern coaches, locomotives, modernisation of railway stations. The approaches such as laying of optic fibre cables, utilization of air space over railway platforms, introduction of super fast Parcel Express are very timely and were discussed between CII and Railway Ministry from time to time – particularly during the last stint of Ms. Banerjee as Railway Minister.

With both passenger and freight earnings growing at double digit rates, the Railways were able to earn a cash surplus of Rs  17, 400 Crores in 2008-09, even as it’s operating ratio  is 92.4% due to the sudden load on account of increase in wage bill as a result of implementation of Sixth Pay Commission.

CII welcomed the partnership with the private sector, opening up yet another avenue for industry to participate in the spectacular growth of Indian Railways.

The pro-people, pro-industry and pro-economy Railway Budget, 2009 presented by the Railway Minister will 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.