Rail Budget 2013: Railways play important role in the growth of the nation, says Bansal

NEW DELHI: Railway Minister Pawan Kumar Bansal on Tuesday said that the Indian railways are an important driver of growth for the economy. "The growth of the railways is inextricably linked with the growth of the overall country," Bansal said in his maiden budget speech.

There has been a reduction in the number of train accidents, even though passenger and freight volumes have increased, Bansal said. Indian Railways face mounting scarcity of resources, he added.

Bansal said that while losses on passenger trains continue to mount, railways need to be financially sustainable.

Pawan Kumar Bansal started his speech with the usual homage to Congress leaders. He is the first Congress Railway Minister in nearly 17 years and expectations are high from his Rail Budget speech. "Howsoever high a flight may be, we must remain connected to the ground," he said.

Bansal had in January hiked railway fares across the board for the first time in a decade. The decision had met with widespread political criticism.