Mamata gave the right direction: CII

New Delhi / Kolkata July 4 : Welcoming the Railway Budget 2009-10 presented in the Lok Sabha by Railway Minister Mamta Banerjee, President of CII Venu Srinivasan, said this is in the right direction with an inclusive agenda.

“As anticipated, Minister of Railways has laid out a very pro-people and development oriented budget. Focus has been equally strong for passenger and goods services and this is a welcome step towards the overall approach of the Ministry,” said Srinivasan.

In the 2009 budget, Banerjee has taken a very forward looking approach and laid emphasis on PPP initiative to various innovative and constructive projects such as augmentation of wagon fleet, introduction of modern wagons, modern coaches, locomotives, modernisation of railway stations, he said.

“ The approaches such as laying of optic fibre cables, utilization of air space over railway platforms, introduction of super fast Parcel Express are very timely and were discussed between CII and Railway Ministry from time to time – particularly during the last stint of Banerjee as Railway Minister.”

With both passenger and freight earnings growing at double digit rates, the Railways were able to earn a cash surplus of Rs 17, 400 Crores in 2008-09, even as it’s operating ratio is 92.4% due to the sudden load on account of increase in wage bill as a result of implementation of Sixth Pay Commission.

CII welcomed the partnership with the private sector, opening up yet another avenue for industry to participate in the spectacular growth of Indian Railways.

“The pro-people, pro-industry and pro-economy Railway Budget will create a win-win situation for all – the railways, the wagon manufacturers, heavy industries and the common man. With the past experience of the Railways clearly demonstrating that pragmatic policies and aggressive planning can give substantial benefits to the Railways, its consumers and the national economy, the industry expects a sustained proactive and still more ambitious approach from the Railways towards growth,” Srinivasan added.