Home > Business > Budget 2004-05 > Report
Budget pro-poor, pro-rich: Lalu
July 06, 2004 15:29 IST
Describing it as pro-people, Railway Minister Lalu Prasad on Tuesday said his maiden Budget was aimed at making Railways self-sufficient without imposing any additional burden on the common man.
"The Railway Budget is pro-poor, pro-middle class, pro-rich and pro-business class without imposing any tax," he told reporters in New Delhi.
Accusing the previous Bharatiya Janata Party-led coalition government of neglecting Railways, he said several measures had been taken in this budget to generate additional resources to modernise Railways and to increase the safety and security of passengers.
Prasad said the government had laid more emphasis on increasing freight traffic to generate revenue.
Past experience had shown that this traffic went to roadways because of increase in rail rates, he said.
Asked how he was going to finance new projects, he said paucity of funds should not hamper modernisation and the ministry was ready to borrow from the market.
He said the government had decided to directly fill 8,000 vacancies in RPF replacing the old system of recruitment through Commission to meet the immediate need of providing security to passengers.