Skip to Content

Asian Tribune is published by World Institute For Asian Studies|Powered by WIAS Vol. 12 No. 2676

Indian Rly Budget investor friendly, Gets thumbs up from Jaya Amma

By Malladi Rama Rao
New Delhi, 09 July (Asiantribune.com)

Proving market watches right, the Modi government today presented railway budget that opened doors for investors from home and abroad saying that there is no other mantra to put the cash strapped network on track once again.

The Railway Minister Sadananda Gowda was very candid.

Saying that he needed more than Rs nine lakh crore to completing the Golden Quadrilateral Network and another Rs 60,000 crore for introducing one bullet train alone, he asked Parliament: “Can I depend only on hiking fare and freight rates and burden the public to realise these funds? This is unrealistic. I need to explore the alternate means of resource mobilization.”

He did not tweak the fares having hiked them steeply by 14.2 per cent only last week, but declared that henceforth fare and freight rates would be linked to fuel prices.

Promising to work closely with the state governments on several safety-related initiatives, including speedy conversion of unmanned level crossings Sadananda Gowda, who is a chief minister once in the past, said he would involve the States in the monitoring of on-going projects.

The Tamil Nadu Chief Minister Jayalalithaa has given thumbs up for the Gowda budget. But the West Bengal Chief Minister Mamata Bannerjee as also the Sonia Congress have criticised that the railway budget has nothing for the common traveller.

Jayalalithaa said both Prime Minister Narendra Modi and Railway Minister Sadananda Gowda have practiced transparency in placing before the country the true status of the Indian Railways.

“Their approach is fiscally responsible and very bold. We look forward to the new initiatives to raise finances and the proposed improvements in project and operational management bearing fruit and thereby delivering on the hopes and aspirations that have been created”, she said in her reaction and welcomed the new emphasis on involving the States in railway initiatives for safety in particular.

“The holistic approach proposed to achieve greater urban transport integration with Railways, responds to a long standing request that my Government has placed to integrate urban transportation in Chennai", the TN Chief Minister said, hoping that the MRTS network in Chennai would be handed over to the Chennai Metro Rail Limited as requested by her.

Taking the opposite line, West Bengal Chief Minister Mamata Bannerjee opposed the welcome to FDI saying FDI in important sectors like railways and defence would endanger the country's security. She came down heavily on the Modi government holding the view that her state has been completely overlooked in the new proposals.

The India Inc has, however, termed the Rail Budget as growth-oriented. “We welcome the proposal for financing bulk of future projects through PPP route that will help overcome the constraint of low investment, enhance connectivity and accelerate the process of modernization”, said, Sidharth Birla, FICCI President.

Some highlights of the Railway Budget

• A bullet train between Mumbai and Ahmedabad
• Speed of select trains will be increased to 160 to 200 kms per hour on nine select sectors.
• 58 new trains will be introduced, five of them will be premium trains
• .Line surveys will be undertaken for rail connectivity to 'Char Dhams’ in the Himalayas and Shimoga-Sringeri-Mangalore linkage.
• 4000 women to be added to railway police to escort ladies coaches.
• Railway reservation system to be revamped further to allow 1,20,000 simultaneous users and to issue 7200 tickets per minutes
• Paperless offices Rly offices in five years
• Wi-Fi services in A-1 and A category stations and in select trains
• Office-on-Wheels: Internet & Workstation facilities on select trains
• Battery operated cars for differently -abled and senior citizens at major stations
• Highest ever plan outlay of Rs 65,455 crore for 2014-15\
• Expenditure in 2014-15 pegged at Rs 149,176 crore.

- Asian Tribune -

Indian Rly Budget investor friendly, Gets thumbs up from Jaya Amma
diconary view
Share this


.