The industry has hailed the budget because of its focus on bringing in investments through foreign direct investment (FDI) and public-private-partnership (PPP) projects.

“Revamping of the railway tariff, allowing FDI in railways and encouraging joint ventures and PPPs must be explored to access funds. This will infuse the necessary momentum to rail infrastructure upgradation,” said Chandrajit Banerjee, Director-General, Confederation of Indian Industry.

Speedy execution

CII said there is a need to expedite implementation key railway projects, such as the dedicated freight corridor, high-speed rail corridors, procurement of rolling stock and other capacity enhancement works.

“While this is an interim budget, Ministry of Railways should focus on speedy project implementation and address structured measures in the next regular budget. The message in the interim budget on enhancing rail network to include unconnected regions is welcome as it will enhance rail revenue share,” said Tilakraj Seth, Executive Vice-President (Infrastructure and cities, sector cluster lead, South Asia), Siemens Ltd.

Meanwhile, the Federation of Indian Chambers of Commerce and Industry (FICCI) also welcomed the setting up of an independent Rail Tariff Authority and the thrust on safety in the budget.

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