Railway Budget 2016: Steel industry awaits early review of rail tariff policy

"Rail Budget is a forward looking and development oriented one."

The steel industry would look forward to an early review of the policy to make movement of bulk commodities competitive, Tata Steel managing director (India and Southeast Asia) T V Narendran said in his reaction to Railway budget.

He said, "Rail Budget is a forward looking and development oriented one. The efforts to rationalise tariff structure by review of the tariff policy for creating a competitive structure is the need of the hour. Steel Industry would look forward to an early review of the policy to make movement of bulk commodities competitive," he said.

Permitting multi-point loading/unloading and application of differentiated tariffs would help in increasing the utilization of railways and decongest the roads. The customer commitment charter would also help in improving the customer service levels, he hopes.

Adding further, Narendran said that given India's goal to achieve double-digit growth, it was hoped that Union budget will make further announcements in public infrastructure.

"We are confident that the timely execution of the initiatives announced in this budget will have a positive impact on all the sectors that are dependent on railways including Steel," he said.