Rail Budget to enhance auto industry usage of railways: SIAM

Written by Agencies | New Delhi | Updated: Jul 9 2014, 17:35pm hrs
Several measures announced in the Rail budget such as enhanced port connectivity and setting up of private freight terminals will enhance auto industry's utilisation of railways for vehicle transportation and reduce cost of operations, industry body SIAM today said.

Welcoming the announcements made by Railway Minister Sadananda Gowda in Parliament, Society of Indian Automobile Manufacturers (SIAM) said various suggestions from the auto industry have been accepted in the Rail Budget.

"Enhanced port connectivity, automatic rebate for return load and setting up of private freight terminals and logistics parks under PPP mode were specific recommendations made by the auto industry which have been accepted by the Railway Minister," SIAM President Vikram Kirloskar said.

Terming the Rail budget as forward looking and progressive, he said these measures along with the facility of online bookings of wagons will help the automobile industry in enhancing its utilisation of railways for transporting its products more efficiently, thereby reducing cost of operations.

The Rail budget incorporates many of the recommendations SIAM had been making to the Railway Board for the last 3-4 years, he added.

"Forward looking initiatives like introduction of Bullet Trains and FDI in Railways would also enable the country to modernise its rail transport system to match the best in the world," Kirloskar said.