"Change in course from a populist budget to an ambitious and focused budget will help in reviving the sector," Indian Chamber of Commerce said in a statement.
"However, with the massive expansion, consolidation and modernisation plans on chart, resource mobilisation may be a challenge," the chamber noted.
The pro-active measures and plans announced in the budget would help the Railways to be on a path of sustainable growth through concrete implementation of short and medium-term projects of strategic importance, the ICC said.
Bharat Chamber of Commerce president Sajjan Bhajanka congratulated the Railway minister and said the introduction of high speed bullet trains and the sanction of the Sagarmala projects aiming to provide railway connection to important ports of the country was highly appreciated.
"Priority on development of air-conditioned transportation of milk, fruits and vegetables is a step in the right direction," Bhajanka added.
