Steel industry welcomes the 2007-08 proposed Railway budget

New Delhi, Feb 26 (UNI) The steel industry has welcomed the new initiative of cutting freight tariff on iron ore announced by the Railway Minister Lalu Prasad in his Railway budget for 2007-08.

The industry feels that this initiative is in the right direction and hoped that it would be applicable to all steel plants.

The industry said that the Railway Minister's shift to expanding new railway capacities is a welcome development after his earlier focus on utilising existing assets during past two or three budgets.

The Railway Minister's promise for new railway lines to new steel and power projects is also a positive initiative.

UNI