Rail budget: Bold and pragmatic, say Industry

CHENNAI: Industry bodies on Wednesday welcomed the Railway Budget. The Confederation of Indian Industry and Federation of Indian Chambers of Commerce and Industry (FICCI) in the state have hailed the rail budget stating that it is  bold and pragmatic.Chandrajit Banerjee, Director General, CII, said the five-point agenda outlined in the budget along with focus on bringing down operating ratio through greater efficiency would go a long way in infusing necessary momentum to rail infrastructure upgradation.FICCI advisor to president P Murari said that separate railway tracks for freight movement would help in traffic congestion and accidents would also be reduced.CII said that that an independent body mooted by the railway minister, for examining freight and passenger fares balance so that dependence on freight is reduced, would bring comfort to industry for goods movement, which subsidises passenger routes.FICCI lauded the efforts to bring down the operating ratio from 95 per cent to 74 per cent and said the railway budget is an attempt to put the railways finances back on track.