The Hindu Business Line : Nitish gets thumbs-up from industry captains

The President of the Confederation of Indian Industry (CII), Mr Sanjiv Goenka, stated that the move towards rationalisation of passenger and freight tariff was long overdue and was a positive development.

However, the proposed increase in freight charges on coal, iron ore and raw materials would adversely affect the power and steel plants, he said, adding that the cost of power was bound to move northwards.

On the various measures announced to enhance safety, Mr Goenka said that the setting up of the Rs 17,000-crore Special Railway Safety Fund was a step in the right direction. The CII President hoped that safety would encompass not merely renewal of tracks, but the entire gamut of issues, including safety of men and material.

The President of the Associated Chambers of Commerce and Industry (Assocham), Mr K.K. Nohria, described the Railway Budget as "balanced one and better" than earlier budgets.

However, he felt that the Minister would have done well to press ahead with expenditure control, especially after having saved Rs 1,000 crore in the 2001-02 Budget.

Mr Nohria welcomed the tariff balancing measures introduced by the Railway Minister, which were in conformity with the recommendations of the Rakesh Mohan Committee. The announcement on allocation of funds to railway projects in States was a welcome measure but this, he said, should be done on the basis of a transparent formula for efficient use of resources.

The President of the PHD Chamber of Commerce and Industry, (PHDCCI), Mr Arun Kapur, felt that the Railway Budget had not done much to rise above the short-term focus in its investment initiatives.

However, in view of the importance of horticulture and agri-business to the economy, the chamber welcomed the introduction of high-speed refrigerated wagons and the proposal to upgrade the Golden Quadrilateral.

The Vice-President, Federation of Indian Export Organisation (FIEO), Mr S.K. Saraf, felt that the redeeming features for the export sector were restoration of rail links between Petrapole and Benapole on the eastern sector to facilitate exports to Bangladesh. Further, the proposal of the Railway Ministry to provide port connectivity on cost-sharing basis could facilitate exports, he felt.

Send this article to Friends by E-Mail

Stories in this Section
Cargo hubs must to raise throughput, says report

Gangavaram project: 7 cos shortlisted

Push for goods, shove for passengers

Thrust on capacity expansion, security

Rlys focus shifting from bulk transporter to logistics aide

Good, yet far from re-inventing itself

Back on the right track?

Sleeper travellers to be squeezed most

Bold, businesslike and balanced

Nitish back on old borrowing track

Season ticket fares rationalised