The Indian Electrical and Electronics Manufacturers Association (IEEMA) welcomes the announcements made by the Hon’ble Union Railway Minister Shri Suresh Prabhu in the Railway Budget 2016-2017.
“The rail budget reinforces the government’s commitment to the electrical equipment sector with increased outlay for railway electrification by almost 50% and proposal to electrify 2,000 kms.” said Mr. Babu Babel, President IEEMA. The government proposes to achieve the target in next few years, which would in normal approach would take about 10 to 15 years.
“This is a good news for the Electrical Equipment sector and would give the much needed boost to the industry. The Rail Budget highlights the innovative financing model and project management approaches including partnering with Ministry of Power. The government’s efforts to minimize the strain on the exchequer by financing the capital expenditure through savings from electrification is laudable” said Mr. Babel.