Indian industry today gave a thumbs up to the no-hike Railway Budget saying it has not put any burden on common man and business, while paving way for more private participation in railway projects.
"The decision not to hike railway freight and passenger fares is an anti-inflationary measure that is welcome," Ficci President Harsh Pati Singhania said.
Singhania said the decision to invite private expertise and resources for deployment in areas like development of new lines, port and mine connectivity and multi-layer parking facilities, would go a long way in modernising the railway system.
Railways Minister Mamata Banerjee has not hiked freight and passenger fairs instead railway freight rates for foodgrains and kerosene were reduced.
Expressing similar views on private participation, CII said this would give the right signal to investors in India and abroad to look at Indian Railways in a new light.
Assocham described it as "people and industry friendly" since there is no increase in passenger and freight rates but said the budget lacked clarity on utilisation of Railways' land for public private partnership initiatives.
PHD Chamber, however, said Banerjee had missed an opportunity to reduce freight rates across the board to further stimulate the economy.
Presenting the Railway Budget for 2010-11, Banerjee asked business houses to build partnerships with the Railways that employs about 14 lakh people.
