Railways to step up freight business

New Delhi, July 3 (Inditop.com) Railways Minister Mamata Banerjee Friday proposed several steps, including launch of a premium service for container movement with assured transit time, to improve the freight movement on railways.

Presenting her ministry’s budget for 2009-10 in the Lok Sabha, Banerjee said besides improving the freight movement of its regular cargo like coal, iron ore, cement, fertilisers and food grain, the railways will take measures to increase the share of new items like automobiles and fly ash.

The railways will bring together state governments and major logistics players to set up logistics parks through participative funding, the minister said.

It is also planning to set up mega logistic hubs alongside the proposed eastern and western dedicated freight corridors, she said.

Banerjee has proposed an outlay of Rs.40,745 crore for the railways for 2009-10, up by Rs.2,840 crore from the allocation made in the interim budget.

Of this amount, Rs.15,675 crore will be internally generated and Rs.9,170 crore will be raised through market borrowings and issue of tax-free bonds, she said.