The party said the budget did not evoke "any sense of well-being" in the Indian Railways and that it was "natural" the government did not announce hikes after "having increased passenger and freight charges several times in the run up to budget presentation".
"People were hoping the budget will address the issue of expanding railway connectivity and take substantive measures for improving passenger amenities. On both these counts, the budget was very disappointing," the party said in a statement.
The party termed as "most worrisome aspect" of the budget the financial health of railways. It claimed that both freight and passenger earnings of the railways dropped "significantly" last year.
"The gap between budgetary and revised estimates of railway revenue is around Rs 17,000 crore," it said.
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The party said the government's plan to raise Rs 32,000 crore to fulfil obligations of the 7th Pay Commission through public-private partnership model and by "selling" assets held by railways make "neither economic nor common" sense.
"Consequently, the grandiose projects announced by Railway Minister (Suresh Prabhu), will, in all probability, remain on paper like most of the earlier announcements made during the recent years," the CPI(M) said.
"The consequent increased burdens on the people, the privatisation of its assets and abdication of responsibility towards its workforce together mounts a further attack on Indian people, who are crying for relief," the CPI(M) said.