Bengal Inc bullish on Railways Budget

For 2015-16, Railways had decided to procure 15,000 wagons and the process is already under progress. This is a four-fold increase in procurement compared to last few years.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney IThe Winning Leap SME Special
Moneycontrol

Home » News » Economy

Feb 26, 2016, 09.32 AM | Source: PTI

Bengal Inc bullish on Railways Budget

For 2015-16, Railways had decided to procure 15,000 wagons and the process is already under progress. This is a four-fold increase in procurement compared to last few years.

Like this story, share it with millions of investors on M3

Bengal Inc bullish on Railways Budget

For 2015-16, Railways had decided to procure 15,000 wagons and the process is already under progress. This is a four-fold increase in procurement compared to last few years.

Post Your Comments

Share Cancel

Bengal Inc bullish on Railways Budget
Bengal industries hailed the Railways Budget for 2016-17, saying focus on freight and logistics cost, project monitoring and emphasis on technologies will help the business houses in the state.

CII president Sumit Mazumder in his reaction to the Railways Budget said, it is growth oriented and transformative.

He said there is nothing on wagon procurement in the Budget but mention of port linkage and direct connectivity from Kharagpur to Mumbai and Vijaywada will help Bengal.

"The focus on freight transport, project monitoring, action of logistics cost, reliance on technology, safety are worth appreciation," Mazumder said after the Budget.

He said as fares are not revised, emphasis should be on efficiency.

"The tie up for funds with LIC for 1.5 lakh crore in five years and multilateral funding options will help in raising low cost resources to execute the projects," Mazumder added.

Titagarh Wagons Ltd vice-chairman & managing director Umesh Chowdhury said the Budget was visionary despite no mention of wagon procurement.

"Globally, government does not buy wagons but creates enabling environment for private sector to procure them. This budget is moving in that direction - which is more important than actual direct procurement," he said.

For 2015-16, Railways had decided to procure 15,000 wagons and the process is already under progress. This is a four-fold increase in procurement compared to last few years.

Chowdury said even if Railways maintains current level of procurement, it will be a welcome step. But enabling environment is more important for private sector to invest in freight infrastructure.

Buy, Hold, Sell ? Hear it first on M3
Bengal Inc bullish on Railways Budget

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login