Talking to reporters, Chandy said Kerala was one of the first states to sign an MoU with the Indian Railways to set up a Joint Venture Company to implement rail projects on cost sharing basis.
Three key projects were mooted by the state and one of them was the suburban service from Thiruvananthapuram to Chenganoor. The other two are Sabari Rail project and Nilambur-Sulthanbattery-Najenkode Rail line, he added.
He said that electrification and doubling of rail projects in the state was progressing fast.
"Many factors have to be taken into account before effecting change in office timing," he added.
State BJP President Kummanam Rajasekharan termed the budget as "historic and satisfactory".
"The budget has considered the aspirations of all sections in the society without hiking ticket fares," he said.
State Home Minister Ramesh Chennithala said it was sad that no new trains had been sanctioned for the state.
Kerala Pradesh Congress Committee President V M Sudheeran said the budget had dashed Kerala's hope for rail development.
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