If Bibek Debroy has his way, private companies will soon be running trains in India
Advertisement
Advertisement
The ailing condition of Indian Railways may soon be a matter of the past. If the government approves the recommendations of the Besides running passenger trains, the private companies will also be able to run freight trains, produce coaches, wagons and locomotives and switch over to commercial accounting of railway functions. Termed liberalisation and not privatisation, this reform suggests that the rail ministry should only determine policy and not indulge in day-to-day operations of the railways. The ministry should set policy for open access and the framework for the
The ET report says, the committee has advised to setup an Indian Railway Manufacturing Company to replace all existing production units and another holding company for railway stations. It also suggested setting up a regulator - with statutory backing and independent of the railway ministry as well as the railway board - for fixing tariff, determining cost of service, managing track access, setting technical standards among other things, after private players were allowed to run freight and passenger trains. The panel said it could be called the
While the metro railway in Kolkata is in a mess still figuring out the execution of its expansion plan, Debroy favoured detaching
Debroy has envisioned the railway board as a corporate entity. The chairman should be like a
Advertisement
An individual should be appointed as chairman or member only if he/she possesses at least three years of service left. This clause should also apply to appointment as general manager, Debroy recommended.
The ET news report further clarified that the committee did not recommend privatization of railways, except in very specific non-core segments.
(Image: Reuters)
Advertisement
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- 2 states where home prices are falling because there are too many houses and not enough buyers
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- 9 health benefits of drinking sugarcane juice in summer
- 10 benefits of incorporating almond oil into your daily diet
- From heart health to detoxification: 10 reasons to eat beetroot
- Why did a NASA spacecraft suddenly start talking gibberish after more than 45 years of operation? What fixed it?
- ICICI Bank shares climb nearly 5% after Q4 earnings; mcap soars by ₹36,555.4 crore