April 24, 2024 06:13 (IST)
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Industry bodies laud Modi's Rail Budget
New Delhi, July 8 (IBNS): Apex industry body ASSOCHAM on Tuesday called the Rail Budget presented by Narendra Modi government very businesslike and smart.
It said the Rail Budget focuses on "delivery not populism."
"Clearly spelling out the economic model of the Narendra Modi government, the Railway Budget is banking heavily on involvement of the private investment- both domestic and overseas on modernization and a smart functioning of the country’s largest transport operator," ASSOCHAM President Rana Kapoor said.
"The emphasis is clearly on improving efficiencies, passenger amenities with promise to take them to global standards and the much-needed safety of passengers," he said.
"The Railway Budget opens up vast opportunities for the public-private-partnership in a whole gamut of areas including cleanliness, upkeep of major stations like the airports, IT infrastructure. The smart strategy lies in trying to get the new businesses out of the sheer necessities and ordinary looking but important services such as catering."
"Besides, a clear strategy has been spelt out to retrieve the Railways’ share in the freight movement. Though the freight movement gives over two-third revenue to the organisation, it had been neglected in the past. IT-driven parcel management and special trains for parcel movement for capitalizing on the growing e-commerce business is an intelligent move," he said.
"We are sure, that unlike in the past, the PPP models will attract a lot of private and overseas investment as the new government enjoys a great amount of credibility to deliver. For the first time perhaps, the Railways Minister’s Budget speech read like speech of a Rs. 1,47,000 crore corporate which is wanting to go about servicing its customers," Kapoor said.
Rohit Gadia, Founder and CEO, CapitalVia Global Research Limited said the budget announced sounded more realistic.
He said industries like Kalindee and Titagarh wagons appear strong as the budget announced is having plans for new trains , railway infrastructure development and completion of ongoing projects. This will directly benefit these stocks.
Promising course correction and pledging to move away from populism, Railway Minister Sadananda Gowda on Tuesday presented the Narendra Modi government's maiden Railway Budget focussing on a public-private partnership in infrastructure development, infusion of FDI, announcing introduction of a diamond quadrilateral of high speed trains, an inaugural bullet train service besides harping on e-ticketing augmentation, safety of passengers and cleanliness.
While the Lok Sabha was adjourned after budget speech of Sadananda Gowda amid din by disgruntled MPs of Opposition from largely TMC, Gowda promised on infrastructure and modernization besides taking forward wi-fi system.
"I have an open mind to correct," said Gowda, who emphasised on logistic parks and private freight terminals on PPP model.
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