The Union Budget 2012-13 has been a disappointment to Cochin Port Trust and other public sector undertakings in the State.
The Port Trust, currently under difficult financial conditions, had earlier sought nearly Rs.400 crore as assistance towards meeting the expenses for dredging over a three-year period. However, the request had been turned down.
Industry sources said that the Port Trust had made a further request for about Rs.100 crore in Budget allocation to tide over the current problems. According to the Budget document, the Port Trust has been reimbursed the Rs.25 crore, which was spent on the rail connectivity project for the International Container Transshipment Project.
Other public sector undertakings in the State too have nothing in the Budget for them. Units like Fertilizers and Chemicals Travancore, which have drawn up expansion plans, find no mention in the Budget speech.
The provision in the Budget for investment-linked deduction in capital expenditure incurred in building container freight stations and inland container depots, however, is expected to benefit port-related infrastructure.
Kochi is witnessing a boom in infrastructure building for the International Container Transshipment Terminal. Three new container freight stations are in the making and work on at least one more is expected to begin soon.
The Budget speech referred to India's efforts to reduce its dependence on import of urea. The Finance Minister said that the government had taken steps to finalise a policy for pricing and investment in the sector. With the finalisation and implementation of these steps the country would be self-sufficient in urea production.
This holds out some hope for FACT, which has drawn up plans for setting up a urea complex in partnership with willing private companies.
Though there is a broad reference to disinvestment in public sector undertakings, no mention has been made of the undertakings that will be considered for disinvestment.
