Mixed reaction from FTAPCCI

February 27, 2015 12:00 am | Updated 05:49 am IST - Hyderabad:

The Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry (FTAPCCI) welcomed Thursday’s Railway Budget on various counts but voiced concern at the cascading impact of the hike in freight rates on certain commodities.

“The increase in the freight for cement, coal, iron and steel besides urea will lead to high cost of raw material and affect industries,” Federation president Shiv Kumar Rungta said. He thanked the Railway Minister for sparing passengers a fare hike and proposing to invest Rs.8 lakh crore over the next five years towards passenger amenities. FTAPPCI hailed the Railways’ intention to partner with the private sector to improve rolling stock fleet.

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