Bit­ing Bud­get Bul­let

Cargo Talk - - Itnews -

The Rail­way Bud­get has put for­ward a blue print for fo­cus on in­vest­ment and sus­tain­abil­ity. It has also brought the spot­light on the need to open doors to the pri­vate sec­tor for fur­ther in­vest­ment. The Rail­way Bud­get laid stress on set­ting up Trans­port Lo­gis­tics Cor­po­ra­tion of In­dia to fa­cil­i­tate cargo ser­vices. The ap­point­ment of a tar­iff reg­u­la­tor by 2016 to mon­i­tor price mech­a­nism is also on the anvil. Upgra­da­tion of goods sheds and con­struc­tion of lo­gis­tics parks on sur­plus land apart from ex­ten­sive use of tech­nol­ogy along with the de­ci­sion re­gard­ing in­creas­ing the speed in the nine rail­way cor­ri­dors will bring about a re­duc­tion in lo­gis­tics time. How­ever, the Bud­get failed to ad­dress the is­sue of in­creas­ing freight charges that will ham­per the share of traf­fic car­ried by the Rail­ways and con­se­quently af­fect the ‘Make in In­dia’ ini­tia­tive in the long run. The Union Bud­get pro­posed set­ting up a Na­tional In­vest­ment and In­fra­struc­ture Fund to en­sure an­nual flow of ad­e­quate cap­i­tal to pro­mote in­vest­ment in the lo­gis­tics in­fra­struc­ture. Along­side, the de­ci­sion to im­ple­ment GST by April 2016 to bring about a uni­form tax­a­tion sys­tem will pro­vide the much-needed im­pe­tus to the coun­try’s econ­omy. Pro­pos­als to bring about reg­u­la­tions for re­form in in­fra­struc­ture and pro­vi­sion of sin­gle win­dow clear­ances will in­vite over­seas in­vest­ment in the cargo sec­tor. The de­ci­sion to cor­po­ra­tise ma­jor ports will in­crease ef­fi­ciency in the sys­tem and speed up the progress rate that has, till date, been suf­fer­ing from bot­tle­necks ow­ing to rigid con­form­ity to for­mal rules and the re­dun­dant way of func­tion­ing of the bu­reau­cracy.

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