Kolkata-based Indian Chamber of Commerce (ICC) on Tuesday welcomed the Railway Budget especially the proposals to opt for funding future projects through the public-private partnership route. 

It has also welcomed the proposal of having a dedicated diamond quadrilateral project for high speed trains. 

According to the Chamber, the Railway Minister has laid down concrete plans to boost revenues, harness alternative fuel sources, upgrade stations, restructure and modernize the cash-strapped public transport. This will have a positive impact upon India’s GDP.  

“The Budget will develop infrastructure by focusing on Freight Corridors, and will facilitate smoother flow of goods and services, and hence also enhance business & industrial prospects,” it said in a release.  

Challenges

 

However, with the massive expansion, consolidation and modernization plans on chart, resource mobilization may be a challenge, the Chamber said.   

The use of IT & ITeS along with application of a modern internet-driven platform requires proper channelisation of funds. 

For the Common Man 

Meanwhile, another city-based Chamber, the Oriental Chamber of Commerce, said that the Budget appears to be “healthy for the common man and the economy at large for future”. 

According to the Chamber President, Shoib Ahmed Faisal, dedicated freight corridor on the eastern and western route, introduction of new lines, production of diesel locomotives are welcome moves.

 

However, the Chamber felt that the State has been “largely ignored” in terms of new trains, introduction of new lines along with ongoing Metro projects.

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