FKCCI, BCIC term rail budget as progressive

By Staff
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Google Oneindia News

Bangalore, Feb 26 (UNI) The Federation of Karnataka Chambers of Commerce and Industry (FKCCI) and the Bangalore Chamber of Industry and Commerce (BCIC) today welcomed the Rail Budget, presented by Railway Minister Lalu Prasad.

''We welcome various amenities announced for passengers and reduction of passenger fares. But, reduction of freight on petrol, diesel should have been more and the Minister could have extended the cuts on food grains as these are the main factors that contribute to increase in inflation,'' FKCCI President R C Purohit said in a statement here.

He said plan for increase in investment on container traffic and manufacture of more wagons would help the exporters. Announcement of exploring Public-Private participation and action initiated to modernise metro and mini metro stations were also welcome, while focus on railway security and safety measures was timely.

However, it was disappointing that there was no plan for electrification and doubling of railway lines in Karnataka, he added.

The BCIC termed the Rail budget as appealing enough and said the Railway Minister had taken progressive steps in railway development.

On target by achieving a surplus of Rs 20,000 crore for the year, with increase in freight earnings and passenger traffic, long term profitability of the railways seemed stable, BCIC President Venkat Kedilaya said in a statement here.

The area of concern had been the slow pace of modernisation and upgradation of Indian Railways, which had not kept pace with international norms, he added.

UNI

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