Auto Industry Welcomes Railway Budget 2014

The Indian Auto Industry has welcomed the Railway Budget presented by the Railway Minister Mr. D.V. Sadananda Gowda. Mr. Vikram Kirloskar, President, SIAM (Society of Indian Automobile Manufacturers) termed it as a forward looking and progressive Railway budget.

Though the fine print is yet to be seen, SIAM believes that the Railway Minister has incorporated many of its recommendations in the budget speech. The Auto Industry has been recommended enhanced port connectivity, automatic rebate for return load and setting up of private freight terminals and Logistics parks under PPP mode which have been accepted by the Railway Minister.

Moreover, the facility of online bookings of vehicle will help the automobile industry in enhancing its utilization of railways for transporting its products more efficiently, which will reduce 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.