India Inc lauds Lalu's Budget

New Delhi, Feb 26 (UNI) Industry and business today lauded the Railway Budget 2007-08 describing it as exciting and the one which has spared the freight and passengers from rate hikes, and will promote partnerships with the private sector.

The chambers said the railways are today operating like a private enterprise registering a cash surplus of Rs 20,000 crore, despite lowering of passenger fares on all categories of trains and not announcing an across-the-board hike in fares.

The public-private-partnership (PPP) model and the volume game of Railway Minister Lalu Prasad in particular came in for praise.

The Indian industry heaved a sigh of relief at the reduction in freight charges of petrol and diesel, as not doing so would have added to inflationary pressures and general psychology of high prices.

Industry chamber CII welcomed the Railway Budget calling it ''high-tech'', while other business bodies Assocham and FICCI lauded Lalu's effort of not hiking freight charges and renewed focus on PPP in the sector.

CII President R Seshasayee said the Budget presented by Railway Minister Lalu Prasad heralds a modern approach to managing the largest public service through use of technology and innovation.

''The announcement of the policy allowing wagon manufacturers to roll out wagons with their own designs within the parameters of the RSDO will encourage R&D in the field of railways,'' he said.

Complimenting Mr Prasad for presenting ''excellent'' Budget proposals for 2007-08, Assocham President Venugopal N Dhoot said the minister has done the best to enhance the operational efficiency of Indian Railways without introducing any increase in freight and fare charges.

''The Railway Minister has proposed such budget proposals as would give enough encouragement for huge capacity building of steel, cement and coal sector.'' MORE UNI