Indian auto makers welcome 'Railway Budget 2014'

Thursday 10 July 2014, 10:24 AM by

Auto makers in India have welcomed the Railway Budget 2014 announced by Railway Minister Mr. D.V Sadananada Gowda. President of Society of Indian Automobile Manufacturers (SIAM), Mr. Vikram Kirloskar has referred to it as a liberal and successive railway budget.

SIAM is yet to go though the final print of the Railway budget, but it seems that most of the recommendations given by SIAM have been included in the budget speech. Among the recommendations accepted by Railway Minister, the auto industry has been favored with increased port connectivity, automatic rebate for return load and establishment of a private freight terminals and Logistics parks under PPP mode.

Facility of booking vehicles online will also work in favour of the automobile industry and will also reinforce utilization of railways for transporting its products in a more proficient and cost effective manner. This will further reduce the 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", Mr. Kirloskar added.