Dinesh Trivedi waves as he arrives at Parliament flanked by minister of state for railway Muniyappa ((L) as they are surrounded by media representatives in ...
The Rail Budget 2012 plans to set up a railroad grade separation corporation to eliminate level-crossings. HT Photo/Arijit Sen
Dinesh Trivedi waves as he leaves the Railway Ministry building for Parliament in New Delhi. Indian Railways Minister Dinesh Trivedi presents the railway budget for ...
Railway minister Dinesh Trivedi in his Rail Budget 2012 announced 75 new express trains, 21 new passenger services and Extension of 39 trains.
Railway minister Dinesh Trivedi unveiled the multi billion dollar annual budget for the railway network with a the first fare increase for eight-years, but he ...
Former railways minister Dinesh Trivedi seems all set to join the BJP. (Reuters file photo)
Fare hike will not bail out Indian Railways: Lalu Prasad Yadav (former railway minister). HT Photo/Sonu Mehta
A TV grab of Dinesh Trivedi while he presents the Rail Budget.
Dinesh Trivedi arrives to present the annual budget for the country's railway system, at the parliament in New Delhi. The government will unveil the budget ...
Mukul Roy, the general secretary of Trinamol Congress, is tipped to replace Dinesh Trivedi as the railway minister. (AFP Photo)
Corporates on Wednesday gave thumbs up to the rail budget terming it as 'balanced' while maintaining that hiking passenger fares will help rationalise revenue stream of the Railways.
Describing it as a bold and pragmatic Budget, industry chambers appreciated setting up of authorities including railway safety, tariff and station development.
The chambers have called for greater private sector participation in the rail sector.
"It is a good balancing act. The announcement of a new member, Railway Board, for public private partnership (PPP) is welcome as it would help bring in guidelines to attract private investments," CII said.
It said that the announcement of a Station Development Corporation would leverage the PPP route for establishing and modernising stations.
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 the necessary momentum to rail infrastructure upgradation, it added.
On the hike in rail fares, it said that after several years the increase is prudent and would help rationalise the revenue stream of the railways.
It also said that the move to enhance border rail infrastructure would help in increasing economic cooperation with neighboring countries.
However, Assocham said that the goal of Vision 2020 document could be a reality if PPP is seriously taken up for monetising huge chunks of land and properties in metros.
The business community and wagon industry in West Bengal also welcomed the rail budget for 2012-13.