New Delhi, Feb 24 (UNI) Railway Minister Lalu Prasad should be complimented for evolving pragmatic strategies for increasing the profitability of the Railways and reducing dependency on Budgetary support, Indo-American Chamber of Commerce (IACC) President P Prabhakar said today.
While welcoming the Union Railway Budget 2006, Mr Prabhakar, said in a statement, ''the conscious effort by the Railways to experiment with the ''increase volumes-reduce unit costs strategy' with the passenger traffic, which worked well in the case of freight traffic, is a thoughtful step and will go a long way in reducing the cross-subsidisation in Railways between freight and passenger traffic.'' He added that it was also important in view of the efforts being made by the airlines to divert a sizeable chunk of long-distance Rail passenger traffic.
''The efforts of the Railways to lay a separate backbone for speedier movement of goods and passenger traffic can enhance both freight and passenger load, while keeping the fares at lower levels,'' he said.
Mr Prabhakar said the need of the hour is modernising the Railway network in the country by inducting state-of-the-art facilities and amenities to the passengers and freight movers, which calls for augmentation of rolling stocks in a speedier pace than what is being done now.
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