Industry hails Rail Budget, term it 'Progressive'

Kolkata, Feb 26: Describing the 2007-08 Railway Budget as "Progressive and pro-poor," a cross section of the Indian industry today heartily welcomed the budget proposals and hoped it would be instrumental in increasing the revenue and help improve rail's safety and security.

Commenting on the Budget proposals, presented by Rail minister Lalu Prasad in Parliament today, Indian Chamber of Commerce(ICC) welcomed the minister's announcement that freight charges on diesel and petrol had been reduced by five per cent and that of iron ore by a record six per cent.

"ICC is pleased to note that Indian Railways is poised to earn a profit of Rs 20,000 crores by March end as against Rs 14,700 crores earned during last fiscal," ICC Secretary General Rajeev Singh commented and pointed out that such growth track proved that Indian Railways was on the right track and following pro-active strategies to achieve that.

Echoing similar optimism, members of the Bengal Chamber of Commerce and Industry(BCCI) also felt that the Railway ministry should be complimented for generating a huge interest surplus of Rs 10,227 crores besides registering substantial increase in the freight earnings by 17 per cent and over 14 per cent growth in passenger traffic.

Increase in the cement freight traffic by 30 per cent between April and December last year, which is five per cent higher than the previous year, also indicated that Railways had started achieving economies of scale, BCCI Secretary General Khokan Mukherjee told sources while reacting to today's Railway Budget.

Referring to the Railway minister's announcement to start operating three-storied freight containers and introduction of 30 pairs of new trains and eight Grarib Raths this year,both the Chambers felt that all these steps were likely to go a long way in achieving a double digit and sustainable growth in the national economy.

Bharat Chamber of Commerce(BCC), yet another premier chamber in the city, termed the Railway budget as a 'People friendly budget with a human face' and felt that it deserved kudos for recording all round growth.

The infrastructure sector too has much to rejoice as huge investmet had been earmarked for increasing the number of coaches, wagons and containers with increased load capacity,the BCC sources said.

Among others Bengal National Chamber of Commerce and Industry(BNCCI) President Shanta Ghosh also complimented the Railway minister for placing a very healthy budget proposals,aiming to improve efficieny, competency and security of Indian Railways.

She also welcomed the decision to reduce passenger fare in both upper and general classes and increase the number of several long distance trains to connect the far flung areas.

UNI