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Railway Budget—higher freight cost for commodities. A 30% rise in freight rates
for coal and cement as highlighted in the Railway Budget would increase landed price
by Rs150-180/ton for the commodities. While the power sector may be less impacted
by the increase due to the cost-plus nature of their sales arrangements, the cost burden
will likely be borne by cement manufacturers both in terms of input cost for coal and
outward freight for cement. We evaluate other data points from the budget, including
investment in new infrastructure that could improve evacuation infrastructure for coal.
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