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Blog Entry# 2376592
Posted: Aug 10 2017 (22:55)

4 Responses
Last Response: Aug 12 2017 (09:52)
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Aug 10 2017 (21:03)   Parliamentary panel moots rethink on defining Railways as ‘commercial undertaking’

Jayashree ❖ Amita*^   38932 news posts
Entry# 2376592   News Entry# 311331         Tags   Past Edits
The Centre should not consider the Indian Railways as a commercial undertaking and should find ways to fund ‘socially desirable projects’ that yield a return of less than 12 per cent, a parliamentary panel has said.
The Standing Committee on Railways noted in its report that of the 432 new-line, gauge-conversion and doubling projects, two-thirds (292) have a rate of return of less than 12 per cent, adding that 222 of them have a negative rate of return.
The panel now wants the government to assess the quantum of social service obligations, and
has asked the Railway Ministry to take a re-look at defining the Railways as a ‘commercial undertaking’. The Committee has contended that much like defence and roadways, the Railways also makes an indirect contribution to overall GDP, besides also fetching direct earnings.
“...the concept (of the Railways being a commercial undertaking) was alright as long as it was under the British regime. Whatever penny the Britishers invested, they wanted returns out of it,” the report said.
The Committee has also asked the government to come up with viable plans to fund ‘socially desirable projects’ in a phased manner so as to address issues in perspective, remove hindrances and work as a pro-active facilitator of connectivity.
The Railways, the report said, could only fund these projects through gross budgetary support (GBS) and through outside credit whereby the Railways have to pay market rate, because the return from these lines would not be substantial enough to reimburse the cost of borrowing.
The Committee was apprised that, while the Railways had not yet received a response from the Finance Ministry, steps had been initiated in this regard by merging the Rail Budget with the General Budget. According to the Railways, the total net social service obligation on coaching and freight services was at Rs 34,000 crore in FY16.
However, the Railways have prioritised some projects as national projects which is on its ‘top priority’ list. This list includes some in Jammu and Kashmir and the North-East.
As on date, the Railways have 495 ongoing, pending projects worth Rs 4.36-lakh crore, which can never be completed if the public sector behemoth were to proceed with the present mode of funding, the panel report noted.

Aug 10 2017 (22:55)
srinivasvasanthi~   4365 blog posts   15 correct pred (54% accurate)
Re# 2376592-1            Tags   Past Edits
Indian Railway s are built-up over the common man Indians properties during the British era.
Now we can imagine the lands controlled by our IR in all the Metros / cities / Towns and Rural areas and its present market values.
The present Railway Board members have to be gone back to the British era .How the British acquired the lands from the common &poor man and evacuated them .
So our IR has social obligations for the Indian poor and common peoples.
They have to be served enough ordinary passenger trains and sub urban services .
Nowadays land acquisition for Railway projects are very much tedious.Railway projects are delayed for the decades .
.Example.Chennai MRTS last stretch of Velacherry to St .Thomas Mount lands acquaintance are delayed by 3 decades and still pending .
So many Railway projects are not at all surveyed through the public lands.

Aug 11 2017 (15:00)
a2z~   2635 blog posts
Re# 2376592-2            Tags   Past Edits
* Tragedy for IRlys since independence is, most of the new lines constructed were "socially desirable projects" rather than to genuinely required projects. Result is deterioration of Rly finances.
* Any such project forced on the IR, should be accompanied with compensation clause to save IR from the cost of construction, as well as future operational losses incurred when the socially desirable project is commissioned.
* New rail line is often sanctioned to connect home towns/ inlaws-town/ political constituency of big shots, a case of connecting home town with in laws town
of big politicians etc. Mostly the political interests are served in the name of so called "socially desirable projects". Most of the "socially desirable projects" had been implemented in some states only, with an intention to serve the RM's or party's political interests rather than to serve the society at large.

Aug 11 2017 (18:59)
srinivasvasanthi~   4365 blog posts   15 correct pred (54% accurate)
Re# 2376592-3            Tags   Past Edits
RM s daughters Medical college Town stoppages etc.Any how other people also benefitted

Aug 12 2017 (09:52)
a2z~   2635 blog posts
Re# 2376592-4            Tags   Past Edits
But what abt the injustice to the residents of many other towns which are more deserving ones for such stoppages

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