The Railway Budget presented by the Union Minister of Railways, Mr. Suresh Prabhu is far-sighted and aims towards long-term futurist reforms necessary to remodel the Indian Railways. The budget announcements focuses on the development of railway tracks, increase in freight capacity and plans to allocate Rs. 8.5 Lakh crore over the next 5 years is very ambitious and if implemented will increase its economic viability giving the railways a major thrust said Mr. Vijay Kalantri, President, All India Association of Industries (AIAI).
Also the Central Government promises not to raise passenger fare and freight charges, increase in freight capacity by Rs. 1.5 bn., track capacity to be increased by 10 per cent to 1,38 lakh km. and proposes to outlay 41 per cent (Rs.45,100 crore) for 2015-16. This will lead to better productivity and movement of cargo, which will give a thrust to industries making them more competitive added Mr. Kalantri
The Government also assures to review the Public Private Partnerships (PPP) model and make it more result oriented by deregulating and de-centralizing the system by bringing in more transparency. Besides the development of 9 new railway corridors, 10 satellite railway stations, logistics and freight terminals and putting the Delhi Freight corridors (DFC) on a fast track mode are the vision and thrust of the Railway Budget.
The announcement to raise funds through pension funds, insurances, multi-lateral banks and other sources will help to augment resources will give a boost to the railways besides generating employment.
In addition it promises to improve passenger amenities such as cleanliness, potable water and toilets and increase in facilities to assist Senior citizens is much appreciated added Mr. Kalantri.