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Our Bureau

New Delhi, Feb. 26

The Finance Minister, Mr P Chidambaram, said on Monday that the Railway Minister's move to reduce passenger fares across the board and moderate freight charges would have a beneficial impact on price stability in the economy.

Reacting to the Railway Budget, Mr Chidambaram said that the budget was a "growth oriented budget" and a convincing demonstration of the UPA Government's basic philosophy that growth benefits all, especially the poor. "I particularly compliment the Railway Minister for the resource mobilisation. Against an annual plan outlay of Rs 31,000 crore for 2007-08, internal resource alone would finance up to Rs 17,323 crore or 56 per cent. This is a sharp increase from the previous year," Mr Chidambaram said in a statement issued here on Monday.

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