As you all might know, the new government declared the Railway Budget today. Mr. Vikram Kirloskar, President, SIAM has welcomed the Railway Budget presented by the Rail Minister Mr. D.V. Sadananda Gowda. He termed it as a forward looking and progressive one.
Although the fine print is yet to be seen, the speech of the Railway Minister incorporates many of the recommendations SIAM had been making to the Railway Board for the last 3-4 years, Mr. Kirloskar said.
Mr. Kirloskar added that the auto industry is happy that many of SIAM’s recommendations have found a mention in the Budget speech. Enhanced port connectivity, automatic rebate for return load and setting up of private freight terminals and Logistics parks under PPP mode were specific recommendations made by the auto industry which have been accepted by the Railway Minister. These measures along with the facility of online bookings of wagons will help the automobile industry in enhancing its utilization of railways for transporting its products more efficiently, thereby reducing cost of operations.
Forward looking initiatives like introduction of Bullet Trains and FDI in Railways would also enable the country to modernize its rail transport system to match the best in the world, he added.