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Saturday, May 30, 1998

Industry hails rail budget

ENS ECONOMIC BUREAU  
MUMBAI, May 29: Leading chambers of commerce and industry today welcomed the railway budget terming it industry-friendly. The railway budget has spared the industry from paying additional freight rates, which would have otherwise been the proverbial last straw considering the recessionary trends in the economy, Indian Merchant's Chamber president Trivedi said.

Reacting to adjustments in tariff, Mohan Gurnani, president of the Federation of Associations of Maharashtra (FAM), was of the view that in the present conditions of a depressed market "it would have been better if the tariff structure had not been modified."

While the AIAI president Vijay Kalantari welcomed the negligible increase in freight charges, he said "it should have been more favorable to the common man." The IMC president, however, differed on this saying, "the marginal increase in passenger fares would not hurt the common man." There is no mention as to what concrete steps the ministry would take for commercial exploitation of landavailable with it, Trivedi said.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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