Modi Govt's maiden Rail Budget to be discussed in Parliament today

The Narendra Modi government's maiden Rail Budget will be discussed by both Lok Sabha and Rajya Sabha on Monday. 

Having already effected a steep 14.2 percent hike in June, the Railway budget, which was presented on July 08, spared passengers of any fresh revision in fares and freight rates, but pitched for reforms by proposing private and foreign direct investment and public private partnership to meet the resource crunch.

Presenting his maiden budget, Union Railway Minister Sadananda Gowda had said that he plans to leverage railway PSU resources by bringing in their investible funds in infrastructure projects.

Describing the Railway Budget as "futuristic and growth-oriented", Prime Minister Narendra Modi had said it will speed up the country's development and help provide greater security and services to the people.

The PM said the budget is for the common people as it aspires for better service, speed and safety with focus on development of the country.

Industry watchers and analysts welcomed Gowda's maiden budget for not being populist, but raised some reservations on implementation and lack of clarity on funding side.

Indian Railways, the world`s fourth-largest, has suffered from years of low investment and populist policies to subsidise fares. This has turned a once-mighty system into a slow and congested network that crimps economic growth. 

With Agency Inputs

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