Meanwhile, the BSE Sensex traded nearly 500 points higher to 60,050 levels and held early gains led by capital goods and metals stocks. Similarly, the 50-stock NSE Nifty was at 17,800, up 138 points, or 0.78%. Among the individual stocks ICICI Bank, Tata Steel, Larsen & Toubro, HDFC Bank and Housing Development Finance Corporation Ltd. (HDFC).
Referring to the rail budget, a CRISIL spokesman said: “Investments of ₹75,000 crore focused on freight will help Indian Railways increase its modal share. This is in line with the National Rail Plan’s goal of increasing the modal share from the current 25% to 50%.”
The 2022-23 Economic Survey, released on Tuesday, also says road and rail development has seen “unprecedented expansion” over the past eight years. According to the survey, investment in railways grew 29% year-on-year to ₹2.5 lakh crore.
“This has helped the country move from unimodal to multimodal transport and provided an opportunity for the private sector to invest and reinvest in these assets, something that has already been facilitated by asset monetization policies. The expansion of infrastructure facilities is only part of the story; Modernization is the other important principle that has been attempted with vigour, and achieved with commendable speed,” the survey reads.
