Rail Budget 2015: Focus on reducing corruption good move, says Choksey

Deven Choksey of  K R Choksey believes the Railway Budget was fundamentally a directional one with the focus on working to root out corruption. According to him the profound measures announced in the Budget with regards to safety, technology development, revenue creation, investments was unlike any other previous Budget.He also believes it was transformational and has a systematic plan in place. Meanwhile, he is not overly worried about freight hikes in cement and don't see a very material impact of that on cement companies as such.

Below is the transcript of Deven Choksey’s interview with CNBC-TV18's Latha Venkatesh and Reema TendulkarLatha: One market expert chose to call it transformational. I would be a little wary of using that word. The stock markets have not called it anything transformational, not even incremental actually. The market has given away a lot. Your thoughts, if this is a reflection of what is to come on Saturday would it be disappointing?A: In fact I have found that there are so many details which have been provided in this particular Budget and of the direction that this has set it is something which is very fundamental as I would call it. The details are definitely going to demand a good amount of articulation as far as the government is concerned about execution of this initiative. However, some of the very profound and important ones are that they have systematically worked at the grassroots level to weed out the black money system from the railway in taking various initiatives.Various initiatives pertaining to bringing up the efficiency and various initiatives pertaining to bringing up the kind of facilities for the passengers and the cargo movement; they are some of the very profound measures as I would call it which I haven’t heard in last so many years of my listening to the railway Budget. So, certainly I believe that there is lot more in the details out here and I am sure as we progress further most of the companies would start looking at some of the opportunities which are thrown open to them. In fact giving the coaches to the tour operators, giving the stations for planning and development, even details like giving the kind of look to a particular station under the architecture of the local area some of these details are very profound. According to me this could possibly transform the entire system big time.However, as I said this is going to be a directional call, more importantly market will discover over a period of time which companies would grab what opportunities out of this and systematically it would result in business development in the economy and for those companies.

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