CII welcomes the attempt of commercial and social objectives in Rail Budget

CII welcomes the attempt of commercial and social objectives in Rail Budget

Lucknow (LKO): Confederation of Indian Industries (CII) has welcomed the rail budget of the new government stating that the rail budget presents a broad vision on what needs to be done in this critical sector in order to upgrade infrastructure and improve operational efficiency. It said it is a positive attitude to have an ambition to be the largest freight carrier in the world, as presented in the Railway Budget. “The minister has been realistic and candid in acknowledging the problems faced in implementation of projects and improving revenue realization,” said Ajay.S.Shriram, president of CII.

Director General of CII, Chandrajit Banerjee said that the railway budget has attempted to deftly strike a fine balance between commercial and welfare objectives to present a credible budget while eschewing populism. “A pragmatic budget, the thrust on increased passenger amenities, cleanliness and efficient station management, greater safely measures and seeking the involvement of corporates to take this forward shows that the budget is anchored in reality,” he added.

CII emphasized that the accent on resource mobilization through the public private partnership (PPP) and FDI and through surplus generated through PSUs is commendable. Similarly, restructuring of rail board is a bold initiative which would help improve efficiency in the system and pave the way for flexible decision-making and restructuring of railways on commercial lines, stated CII.

Zubin Irani, chairman, CII NR stated that the proposal of close monitoring of the execution of dedicated freight corridors is a welcome initiative. CII said it believes that timely implementation of the DFCs are critical for landlocked northern states. Plans to set up a ‘Diamond Quadrilateral Network’ of high speed rail connecting major metros and growth centers of the country is another positive decision, said Irani. This will further enhance connectivity of the Northern Region with the rest of country, said Irani.

Sachin Agarwal, chairman, CII UP State Council praised the railway minister for proposing to increase the speed of trains to 160-200 km per hour in areas including Delhi – Chandigarh, Delhi-Agra, and Delhi-Kanpur. “Introduction of the new premium train, Mumbai Central – New Delhi Premium AC Express is a major move as it connects the national capital with the financial hub of the country. This will cater to an overall industrial development and growth in the northern region which has till now been adversely impacted by its landlocked nature”, stated Agarwal. He added that facilitating connectivity to new and upcoming ports through public private partnership (PPP) will also aid the process.

Source: RailNews