The Hindu Business Line : India Inc has little to complain

Mr H.M. Bangur, President of the Cement Manufacturers Association and Managing Director of Shree Cement, said though there was nothing much for the gallery, the Budget was more practical with no revision in freight and passenger fares. The target of achieving five per cent growth in freight traffic was achievable given the fact that the Railways will add 18,000 wagons.

“The additional wagons will also help push up revenue using the same infrastructure. New opportunities will emerge once the public-private partnership becomes a reality,” he added.

The cement industry expected the change in classification of cement will be reverted to earlier levels. Earlier, the Railways had hiked freight rates for cement, coal and coke from seven to eight per cent a tonne by reclassifying them from Class 140 to 150 for trainload movement.

“As freight rates have not been revised for the last five years, we do not mind a minor raise but it should be done in a transparent manner and not through reclassification of goods. The classification (of goods) should be finalised once and for all,” said Mr Bangur.

Mr Sumit Banerjee, Managing Director, ACC, said though the Budget had some new thoughts and direction, it was neutral as far as the cement industry was concerned.

Mr Sajjan Jindal, Vice-Chairman and Managing Director, JSW Steel, said no special attention had been paid to the steel industry though it is one of the largest revenue providers for the Railways.

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