FIEO welcomes Railway budget provisions

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Mumbai, Feb 26 (UNI) The Federation of Indian Export Organisations (FIEO) President G K Gupta, welcoming the railway budget, said it is investment-oriented.

The increased profit margins and operating ratio, as well as exceeding of freight target of 485 milion tonnes, spoke about the efficiency of the Indian Railways. He also complimented the Railway Minister for investing Rs 75,000 crore in seven years for expansion and modernisation of freight routes as well as linking of railway network to major ports for augmenting supply chain efficiency.

Construction of East-West Corridor with finalisation of Ludhiana-Kolkata and Delhi-JNPT Corridors are expected to avoid congestion and increase efficiency of delivery. The decision to import wagons to bridge the gap between supply and demand is most pragmatic in view of domestic production not meeting the increasing demand, said Mr Gupta, who urged the minister to allow private freight operators to transport all commodities instead of few listed which is hampering the growth of private operators and their investment.

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