Money on the markets
A maturing market amid the mayhem
Railways Minister Mamata Banerjee unveiled a populist budget on Friday that froze both passenger and freight fares, disappointing hopes for major reform in a lagging sector key to the country’s infrastructure growth.
Reuters spoke to people at the New Delhi railway station to get their reaction to the railway budget.
A railway budget separate from the general budget started in 1924 because the railways then formed more than a third of the budget.
A dedicated budget for railways was called for.
However the pattern of government’s finances has changed and the railways despite the impressive statistics - 63,327-kilometre network, 18 million passengers, two million tons of freight – is less important.
The rally in the benchmark, which closed at 14,913, was led by HDFC (up 7.7 percent). Gains in Tata Steel, M&M and Reliance Infrastructure also helped.