FICCI applauds Railway Budget 2015-16

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Published: February 26, 2015 6:00:31 PM

Other notable measures include those meant for improving speed of nine railway corridors and enhancing average speed of freight trains; improved cleanliness

Welcoming the Railway Budget 2015-16, FICCI secretary general Dr A Didar Singh said “It is a forward-looking, pragmatic and strategy-oriented budget with an innovative approach. We are confident, the proposed measures and initiatives, if executed and implemented effectively, will go a long way to restore the prime place for railways in our national economy.”

“Hon’ble minister has correctly focused on building partnerships, leveraging additional resources, revamping management practices, systems and processes, and setting standards for much-needed governance and transparency. In particular, very clear and lucid articulation of four goals, five drivers and 11 thrust areas of action plan reflect a smart thought process”, Dr Singh observed.

It is encouraging to see that the rail budget has envisaged an investment of INR8.5 lakh crore in next five years that would be mobilised from sources such as multilateral development banks and pension funds. Also commendable is the strategy for leveraging partnership with States, PSUs, private sector and other stakeholders towards gaining access to long-term financing and technology, improving last mile connectivity, expanding fleet of rolling stock and building railway infrastructure and modernising station development.

“Besides putting thrust on better passenger amenities and safety, the budget has targeted operating ratio at 88.5 per cent for 2015-16 as compared with 91.8 per cent in 2014-15, and the best in last nine years. Lower operating ratio would help in generating higher internal resources for meeting various requirements” said Singh.

Other notable measures include those meant for improving speed of nine railway corridors and enhancing average speed of freight trains; improved cleanliness; greater connectivity to North-Eastern region and coastal areas; 1330 per cent increase in railway electrification; setting up of transport logistics corporation of India towards expanding freight handling capacity and provide end-to-end logistic solutions; green initiatives including setting up of 1000 MW solar plants on railway/ private land.

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