Railway budget growth-oriented: Verma
27 Feb 2013 7:37 AM IST
C S Verma, Chairman of Steel Authority of India (SAIL) and NMDC welcomed the Railway Budget while terming it Growth oriented.
'The Railway Budget 2013 has come at a time when the Indian economy is faced with difficult choices. We welcome the Rail Budget 2013, which is growth-oriented, while aiming for financial sustainability. The Rail Budget has a 20% higher plan outlay of Rs 63,360 crores in FY14, over this year estimated, which augurs well in enhancing the railway infrastructure, which is need of the hour', C S Verma said. Lauding the budget, he added that the last mile connectivity planned for some ports and mines will facilitate the competitiveness of for the steel and mining industry and the investment planned by them in the 12th Five Year Plan of Rs one lakh crore , through the PPP mode is eagerly awaited by the steel industry. The thrust of the rail budget on new projects like DFCC, new coach manufacturing plants, up-gradation of stations, doubling of lines/ gauge conversion will definitely boost steel consumption as Railways are one of the largest consumers of steel in the country. The increased investment by Indian Railways will spur steel consumption at a time, when large capacities for steel are being installed by SAIL, which shall be beneficial to us.He however expressed discontent over the fuel adjusted component of linking freight tariffs with fuel prices as it is expected to increase tariff by 5% with effect from 1 April 2013. 'For SAIL, this is estimated to have a negative implication of Rs 200 crore per annum on inward traffic and around Rs 100 crores per annum, on outbound finished goods traffic', he said.
'The Railway Budget 2013 has come at a time when the Indian economy is faced with difficult choices. We welcome the Rail Budget 2013, which is growth-oriented, while aiming for financial sustainability. The Rail Budget has a 20% higher plan outlay of Rs 63,360 crores in FY14, over this year estimated, which augurs well in enhancing the railway infrastructure, which is need of the hour', C S Verma said. Lauding the budget, he added that the last mile connectivity planned for some ports and mines will facilitate the competitiveness of for the steel and mining industry and the investment planned by them in the 12th Five Year Plan of Rs one lakh crore , through the PPP mode is eagerly awaited by the steel industry. The thrust of the rail budget on new projects like DFCC, new coach manufacturing plants, up-gradation of stations, doubling of lines/ gauge conversion will definitely boost steel consumption as Railways are one of the largest consumers of steel in the country. The increased investment by Indian Railways will spur steel consumption at a time, when large capacities for steel are being installed by SAIL, which shall be beneficial to us.He however expressed discontent over the fuel adjusted component of linking freight tariffs with fuel prices as it is expected to increase tariff by 5% with effect from 1 April 2013. 'For SAIL, this is estimated to have a negative implication of Rs 200 crore per annum on inward traffic and around Rs 100 crores per annum, on outbound finished goods traffic', he said.
Next Story
