No sops or Tax Concessions on Freight Movement in FY18: Sources

NEW DELHI: There are unlikely to be any sops or tax concessions this year as far as railway freight movement is concerned, sources told.

Instead, Indian Railways has planned to increase freight targets. Sources told the RailNews correspondent, that the ministry has already started meeting with major cement, steel and iron ore companies to help push up their targets.

The sources also said that these companies have assured the railway ministry that they would look to provide increased demand for freight going forward. The steel companies to have done this include JSW Steel and SAIL.

The ministry has also reportedly asked companies to increase their targets. Steel companies have been asked to push their targets to 300 million tonnes from the current 255 million tonnes.

Railway Minister Piyush Goyal, who is also the Coal Minister, has asked Coal India to increase their freight loading targets.