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Blog Entry# 2179318
Posted: Feb 26 2017 (20:41)

2 Responses
Last Response: Feb 27 2017 (14:47)
Rail News
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Feb 26 2017 (19:49)   Dissecting Railway accounts

Ravichandra Madagala~   82 news posts
Entry# 2179318   News Entry# 294824         Tags   Past Edits
Accounting Reforms will help the railways make investment and pricing-related assessments fair and objective
The...

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Feb 26 2017 (20:41)
TheDarkLord~
TheDarkLord~   10265 blog posts
Re# 2179318-1              
Good initiative.
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Feb 27 2017 (14:47)
A2Z~
A2Z~   17505 blog posts
Re# 2179318-2              
Accounting reforms being aggressively pursued by our professionally qualified RM (CA) is one of his best gifts to IR which has potential to give immense benefits to the organisation in future.
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Accounting reforms when implemented shall enable IR with:
(1) Clear information about financial status (like earnings/expenses/profit etc) of different entities related to IR operation like an individual freight train, pax train,
...
more...
Express trains, stations, a stoppage of a train given to station, etc.
(2) IR shall thus be qeuipped with concrete info with financial implication of each activity, and can know where exactly and how much profit/loss it is making. Based on this info, best policies can be formulated so as to make costing of various services provided by IR as low as possible. This will make possible for IR to give better services at minimum possible cost.
(3) However, actual benefits can be derived if political interference is eliminated/ minimised and IR honestly implements the best policies formulated based on the data analysis.
(4) How much of data is actually opened to public is to be seen, lack of transparency give rise to more corruption and political interference.
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It would be very interesting to know how much the ACIII actually cost as compared to SL class. The charges of ACIII class ticket is about 2.75 times the charges of SL class ticket between same destinations on the same train. Where as the actual costing to IR may be any where around 1.5 times only. Ironically IR print the message that "IR recovers only 57% from passengers on an avg" on ACIII tickets.

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