The Federation of Indian Chambers of Commerce and Industry (FICCI) and Confederation of Indian Industry (CII) have welcomed the announcement of single window public-private participation (PPP) approval for the 85 proposals received in the Railway Budget 2011, presented by the Railway Minister, Ms Mamata Banerjee.

“This opens huge opportunities for the private sector to participate effectively in realising the vision that has been outlined in the Mission 2020 by the Ministry,” said Mr Hari S. Bhartia, President, CII.

The pro-people, pro-industry and pro-economy budget will create a win-win situation for all including the Railways, the wagon manufacturers, heavy industries and the common man, said Mr Bhartia.

FICCI pointed out to the fact that for the first time the focus of the Budget had been towards development of Jammu and Kashmir and the North-East region.

“This will go a long way towards regeneration of these areas that have been among the most excluded regions of the nation hitherto,” FICCI said in a statement. Mr R.P. Swami, Secretary-General, Indian Chamber of Commerce and Industry (ICCI), also congratulated Ms Banerjee for the same.

There should have been more follow up actions on the commitments made last year including high speed rail, pointed out Mr Abhaya Agarwal, Executive Director and PPP Leader, Ernst & Young.

Healthy rly finances

“The high operating ratio of 95 per cent shows perilous health of railway finances which requires immediate attention.  By not changing passenger tariffs, it will be difficult for the Railways to generate targeted Rs 14 lakh crore investments by 2020,” said Mr Abhaya.

“No direct increase in freight is good news for the steel industry, because for every tonne of steel, around four tonnes of material is transported, including raw materials and finished goods,” said Mr C.S. Verma, Chairman, Steel Authority of India Ltd.

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